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| Company registration process in Pakistan |
Why to Register Company?
Registering a company with the Securities and Exchange Commission of Pakistan (SECP) is essential for several reasons:
Legal Protection: Registering your company with the SECP gives your business legal protection. It becomes a separate legal entity, which means that the company's assets and liabilities are separate from those of its owners. This can protect the owners' personal assets from any debts or obligations of the company.
Credibility: A registered company has more credibility in the eyes of customers, suppliers, and investors. It shows that the company is serious about its business activities and is committed to complying with legal requirements.
Access to Financing: Registered companies have better access to financing options, including loans, investment, and government grants. This is because registered companies are more likely to be viewed as stable and credible businesses, which are less risky to invest in.
Tax Benefits: Registered companies may be eligible for tax benefits and incentives, such as tax deductions on business expenses, lower tax rates, and exemptions.
Branding and Marketing: Registering your company with the SECP gives you the legal right to use your company name and logo. This is essential for branding and marketing purposes, as it helps to establish your business's identity and reputation.
How to Register Company in Pakistan?
To register a company in Pakistan, you need to follow the following steps:
Name Availability: The first step is to check the availability of your proposed company name. You can check it online through the SECP's eServices portal.
Company Incorporation: Once you have the name approved, you need to file an application with the SECP for company incorporation. You can Apply For this online through the SECP's eServices website.
Memorandum and Articles of Association: You need to draft the Memorandum and Articles of Association (MAA) for your company. The MAA outlines the purpose, goals, and objectives of the company, along with the rights and responsibilities of its members.
Payment of Fee: You need to pay the prescribed fee for company registration through the online payment system available on the SECP's eServices portal.
Submission of Documents: You need to submit the following documents to the SECP for company registration:
- Form 1 (Application for Reservation of Name)
- Form 21 (Notice of Situation of Registered Office of the Company)
- Form 29 (Particulars of Directors, Officers, and Other Key Personnel)
- Memorandum and Articles of Association
- Bank Challan or online payment receipt as proof of payment of fee
- Certificate of Incorporation: Upon successful registration of the company, the SECP will issue a Certificate of Incorporation. This certificate is proof that your company is a legal entity and can begin its business operations.
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