Company Registration in Pakistan

Company Registration in Pakistan, There is a restriction that no association partnership or company, consisting of more than twenty persons shall be formed for the purpose of carrying on any business that has for its object the acquisition of gain by the association, partnership or company, or by the individual members thereof, unless it is registered as a company.
Company Registration In Pakistan

Procedure for Company Registration in Pakistan

Two or more persons associated for any lawful purpose may, by subscribing their names to a memorandum of association for Company registration, form a public company and anyone or more persons so associated may in like manner form a private company as under:-
company limited by guarantee
unlimited company

Memorandum of company limited by shares shall state, the name of the company with the word “limited” as the last, word of the name in the case of a public limited company, and the parenthesis and words “(Private) Limited” as the last words of the name in the case of a private limited company.

These will be mentioned in the memorandum of the company ,the name of the place of registration office, the objects of the company and in case of a trading corporation the territories to which they extend, the liability of the members is limited, the amount of share capital, and the division thereof into shares of a fixed amount.

No subscriber of the memorandum shall take less than two shares and each subscriber of the memorandum shall write opposite to his name the number of shares he takes.

There must be mentioned in the memorandum, whether or not the company has a share capital, the name of the company with the parenthesis and words “(Guarantee) Limited” as the last words of its name, the name of the place of the registration office, the objects of the company and in case of a trading corporation, the territories to which they extend, the liability of the members is limited, each member undertakes to contribute to the assets of the company in the event of its being wound up while he is a member or within one year afterwards, for payment of the debts and liabilities of the company contracted before he ceases to be a member, and of the costs, charges and expenses of winding up, and for adjustment of the rights of the contributors among themselves such amount as may be required, not exceeding a specified amount.

The memorandum shall also state the amount of share capital with which the company proposes to be registered and the division thereof into shares of a fixed amount. No subscriber of the memorandum shall take less than one share and each subscriber shall write opposite to his name the number of shares he takes.

The memorandum shall state, whether or not the company has a share capital, the name of the company, the name of the place of the registration office and the objects of the company, in case of a trading corporation, the territories to which they extend. If the company has a share capital, no subscriber of the memorandum shall take less than one share, each subscriber shall write opposite to his name the number of shares he takes.

Memorandum must be printed, divided into paragraphs numbered consecutively, signed by each subscriber, who shall add his present name in full, his occupation and father’s name or in the case of a married woman or widow, her husband’s or deceased husband’s name in full, his nationality and his usual residential address and such other particulars as may be prescribed, in the presence of a witness who shall attest the signature and shall likewise add his particulars and date will also be mentioned.

Notwithstanding anything contained in this Ordinance or in any other law for the time being in force or the memorandum and articles, the memorandum and articles of a company shall be deemed to include, and always to have included, the power to enter into any arrangement for obtaining loans, advances or credit, as defined in the Banking Companies Ordinance, 1962 (LVII of 1962), and to issue other securities not based on interest for raising resources from a scheduled bank or a financial institution.