Company Registration in SECP.
In Pakistan, the Securities and Exchange Commission (SECP) is the governing body responsible for regulating and supervising the capital market, securities, and other related activities. If you’re looking to start a company, you’ll need to register it with the SECP. In this blog, we’ll take a look at the process of company registration in Pakistan.
Step 1: Choosing the Company Name
The first step in the company registration process is to choose a unique name for your company. The SECP has strict guidelines when it comes to company names. The name you choose must not be similar to any other company already registered with the SECP. It must not be offensive or violate any copyright laws.
Step 2: Obtaining Digital Signature and National Tax Number (NTN)
To start the company registration process, you’ll need to obtain a digital signature and National Tax Number (NTN). You can apply for both of these online through the Federal Board of Revenue (FBR) website. The digital signature is necessary for online company registration, and the NTN is required for tax purposes.
Step 3: Drafting the Memorandum and Articles of Association (MOA/AOA)
The Memorandum and Articles of Association (MOA/AOA) outline the company’s purpose and how it will operate. You’ll need to draft these documents and get them attested by a notary public. You can also get these documents drafted by a lawyer.
Step 4: Filing Online Application with SECP
After you’ve completed the previous steps, you can file an online application with the SECP. You’ll need to create an account on the SECP eServices portal and fill out the registration form. The form will ask for details such as the company name, type of company, the share capital, directors’ details, and address.
Step 5: Payment of Fees
Once you’ve submitted the online application, you’ll need to pay the registration fee. The fee will depend on the type of company you’re registering and the amount of authorized share capital. You can pay the fee online through the SECP eServices portal.
Step 6: Certificate of Incorporation
After the SECP has reviewed your application and approved it, they’ll issue a Certificate of Incorporation. This certificate is proof that your company has been registered with the SECP.
Step 7: Registering for Other Required Registrations
After you’ve obtained your Certificate of Incorporation, there are a few other registrations you’ll need to complete, such as registration with the Federal Board of Revenue (FBR), the Employees’ Old Age Benefits Institution (EOBI), and the Provincial Employees’ Social Security Institution (PESSI).
In conclusion, the company registration process in Pakistan involves several steps, including choosing a unique name, obtaining a digital signature and National Tax Number, drafting the MOA/AOA, filing an online application with the SECP, paying the registration fee, obtaining the Certificate of Incorporation, and registering for other required registrations. It’s essential to follow all the guidelines and regulations set by the SECP to avoid any issues in the future.