How to Register Company in Pakistan

    

Step By Step Process to register company in Pakistan

Here We are Going to Share very detailed and brief knowledge about registration of company in Pakistan . It is very easy to register a company in Pakistan. The registration process is taken care by Securities and Exchange Commission of Pakistan (SECP). SECP is the only body who has the powers of company registration. All of the regulations and registrations are governed by the Companies Ordinance Act 1984. Some basic steps are defined below.  

1.   Name the company and Get it approved

Before selecting the name of our company we should confirm that we are using any illegal terms. SECP will not approve any misleading or incorrect words and the inspection will be taken against the Validity of Our proposed selection of name. So they can confirm that, it is not matching with the existing companies names nor similar to them. For that reason, we must abide by the criteria laid down for naming the company, to get the possible approval by SECP.

2.    Payment for incorporation and Register the company

A certificate is necessary of name accessibility is By SECP and to resolve this we have to file an application. The charges of that we have to pay using any bank challans at elected MCB. After that, we come to a level of registration where the SECP ask us to submit the following documents:

1.     Declaration of compliance

2.     Identification of office’s location

3.     Particulars of directors, secretary, chief accountant, auditors and other

3.    Get the Digital Signature and Make a Company Seal

The signature is approved by NIFT and it can be obtain by E-services of SECP. After the certificate of incorporation is allotted, we have to show/make in presence the company seal, and it depends on which city we’re going to start our business in. On the important point, it wouldn’t be wrong to reference that some states need a company to have a company seal, which is also sometimes denoted as company seal.

4.    Register for Income, Sales and Professional Taxes

To register for Income tax, we have to apply for the NTN at the tax facilitation of RTO of FBR. The necessities for this submission:

1.     NTN form

2.     Proof of registration

3.     Memorandum and Articles of association

4.     Bank account number

5.     Copies of NICs of companies’ Directors

6.     An attestation of business address

We have to submit at the close tax facilitation counter of the RTO in Pakistan.

Sales tax, as like income tax can be registered for, by applying for a STN at the tax facilitation Centre of the RTO of FBR. For the Skilled tax, we must to register with Excise and Taxation (ET) Department of the Region.

 

5.    Register with ESSI and EOBI

It could be determined by on the place of our business, we moreover need to register with

 

1.     Punjab Employees Social Security Institutions (PESSI)

2.     Sindh Employees Social Security Institution (SESSI)

 

Similarly (BESSI) or (KPKESSI) for Balochistan and Khyber Pakhtunkhwa correspondingly.

Employees Old Age Benefits Institution, below that we have to assure that the workers are qualified to a pension, upon leaving, mistakenness in the situation of incapacity, old-age grant and survivor’s pension. Each industry or a commercial institution with five or additional employees has to be registered with the federal Employees Old age Benefits Institution.

6.    Register with the Labor Department of the District

To safety the Labor standard of the workers, each institution other than single man shop have to be recorded with the District Chief Inspector of the Labor sector in each district. For the registration, worker must have to give the application form A attached with the Bank challan.