In Pakistan, a group of companies is registered with the Securities and Exchange Commission of Pakistan (SECP) under the Companies Ordinance, 1984. The process of registering a group of companies in Pakistan involves the following steps:
- Incorporation of each company: Each company in the group must be incorporated and registered with the SECP as a separate legal entity. This involves obtaining a National Tax Number (NTN) and Sales Tax Number (STN) from the Federal Board of Revenue (FBR), preparing the Memorandum of Association (MOA) and Articles of Association, and submitting them to the SECP for review.
- Board Resolution: A Board Resolution passed by the Board of Directors of each company in the group, authorizing the formation of the group of companies and appointing a group CEO.
- Proof of Address: The company’s utility bill or any other document that confirms the company’s physical address, is required.
- Identification of Authorized Signatories: The Original CNIC or Passport of the authorized signatories is required.
- Business Plan: A detailed business plan which includes details of the company’s products, services, target market, etc.
- Group registration: Once all the companies in the group have been incorporated, a group registration form is to be filed with the SECP, which includes details of the group structure, the companies in the group, and the group CEO.
- Group registration certificate: After the SECP approves the group registration, a group registration certificate will be issued.
It is important to note that the process of registering a group of companies in Pakistan can take several months and may be subject to change. Each company in the group must be incorporated and registered with the SECP as a separate legal entity, and the group registration is an additional process. In summary, registering a group of companies in Pakistan involves incorporating each company in the group, passing a board resolution, providing proof of address, identification of authorized signatories, preparing a business plan, filing a group registration form with the SECP, and obtaining a group registration certificate. The process can take several months and may be subject to change