Private Company Registration Process in Pakistan
Documents Required for Application for Incorporation
- 3 Names of Company Priority Wise.
- Scan CNICs of Shareholder, Directors, CEO and CNIC of Nomination on behalf of shareholder in Case of Single Member Company.
- Cell Number of Directors/ Shareholders (Must Be registered at their own name)
- Email Address of Directors/ Share Holders
- Office Address
- Share Holding Percentage of Directors.
Time Required for Pvt Ltd Company Registration
- 7-10 Working days
Post Incorporation Documents
- SECP Certificate of Incorporation
- Directors NTN Certificate
- Company NTN Certificate
- Memorandum of Association
- Article of Association
THE INCORPORATION PROCESS
The process of incorporating a company in Pakistan is simple, online (offline application process is also available) and take 2 to 3 working days, depending upon the type of Company, one intends to incorporate in Pakistan and comprise of following steps. For details on each step please read through the SECP User Guides.
Step 1 – Creating User Profile over eservices
Every person, both Pakistani National and Foreign National, who intends to register / incorporate company with SECP in Pakistan, has to create his / her profile over eservices portal. Data required for creation of profile for Pakistani National is Scan Copy of CNIC and for Foreign National is Embassy Attested Scan Copy of Passport & Picture.
Step 2: Company Name Reservation
Check the availability of your proposed name here on SECP’s Company Name Search.
After creation of profile, only process available for you would be Company Name Reservation. At-least three names are required to be proposed and proposed names should represent the principal business activity of the company.
Step 3: Submission of Company Incorporation Application
After reservation of name, application for incorporation may be submitted with SECP, giving details of Registered Office of the Company, Amount of Authorized Capital, Amount of Paid up Capital, Name of Shareholders, and Name of Chief Executive Officer and Directors.
This concludes Company Incorporation Process as upon acceptance of application, certificate of incorporation can be received from Company Registration Office
Requirements for Shareholders and Director with respect to type of Company
- Private Limited Company needs at least two shareholder, two directors and CEO appointment.
- Single Member Company needs one shareholder, one director, CEO Appointment and nomination on behalf of Shareholder.
Filling of SECP After Incorporation:
After the incorporation of Company Some Filling are important to for SECP.
The Detail of Filling Return are as under.
Subscription Money : Companies are required to receive share subscription money from each director in the ratio of share taken or subscribed by him as mentioned and promised in mentioned in the memorandum of association. Such money must be deposited in the bank account of the company, within thirty (30) days of registration of the company.
As per section 17 (3) of Companies Act Certificate of Receipt of Subscription Money issued by a Cost and Management Accountant or Chartered Accountant verifying the fact that subscription money has been deposited in the bank account of the company must be submitted with 45 days of registration of a company
Ultimate Beneficial Owner:
Register of Ultimate Beneficial Owners (UBO)
Every Company shall be required to maintain a register of ultimate beneficial owners shall, within fifteen days from the receipt of declaration received from its members, and thereafter along with its annual return, submit to the registrar concerned a declaration of compliance, as per Form 45. Provided that in case of listed Companies, a copy of the said form shall also be filed with the Commission. Date and Filing of Notice and Documents In some cases, identifying the UBO is not an easy task, mostly in cases where a multi layered ownership structure exists. Therefore, Law has placed obligation both on Company and the receiver of notice by issued the Company. A Company is required to take reasonable measures to identify and obtain the information of its ultimate beneficial owners by issuing a notice to every member. In response, every person to whom the notice has been issued shall submit a declaration to the Company within fourteen days of the notice, indicating the name, address and other particulars as specified therein. Any person becoming a new member subsequently shall also, within a period of fourteen days of his name being entered in the register of members, submit the said declaration to the Company. Where any change occurs in the particulars of ultimate beneficial owner or his ownership of the Company, the person, is required to submit a declaration to the Company stating the nature of change and other particulars as mentioned therein. The time threshold is fourteen days.