Business Hub Consulting a trustworthy name in business consultancy offers company registration services in Islamabad Pakistan. If you are in seeing more about the company registration procedure in Pakistan complete information about company registration is stated below.
The process of Company registration in Pakistan is not much difficult associated to company registration in some of the other parts of the world however in order to positively go through the process of company registration in Pakistan you have to go through some basic stages that are stated below.
Before leaping to the stages of company registration in Pakistan it is pretty vital for you to know that in Pakistan companies are registered with Securities and Exchange Commission of Pakistan (SECP) which is the only body granted the powers of company registration in Pakistan by the Government of Pakistan.
Company Registration Process in Pakistan: Stage # 1 (Name Availability)
The first step in company Registration in Pakistan is to create an application to the registrar of companies for the availability of name. The application can be made both online and in offline method and normally takes a period of 3 days before confirmation of the name applied for new company registration in Pakistan. Before making an application to the Securities and Exchange Commission of Pakistan (SECP) for company registration please do not forget to do Company Name Search on the Securities and Exchange Commission of Pakistan website. Once the name is confirmed you can proceed with the process of company registration in Pakistan.
Company Registration Process in Pakistan: Stage #. 2 (Documentation)
The second step in company registration in Pakistan is to start preparing documents essential for the process of company registration. The following are the set of documents need to be prepared in direction to effectively complete the process of company registration in Pakistan:
Memorandum of Association (MoA)
Memorandum of Association is the basic document where all the objectives of the company registration are specified. The elementary objective of company registration is to engage in the business of manufacturing, general order supplier information technology and trading company or any other business.
All the business the company is planning to undertake must be specified in the memorandum in order to get completed the process of company registration in Pakistan.
Four (4) copies of Memorandum of Association must be prepared (offline) for company registration in Pakistan.
Articles of Association
Articles of Association is the basic document where all the rules of the company to operate are specified. How company accounts manage, how the company run, how directors are going to function, when how Annual General Meetings (AGM) of the company undergoing the process of company registration in Pakistan is to be accompanied.
Four (4) photocopies of Articles of Association (offline) need be ready also.
Form I for company registration is the mainly a declaration of one of the directors of the company about to be registered. In simple words one of the company director declarant for company registration. This is another necessary part of company registration process in Pakistan.
Form 21 is the form whereby the address of company office enduring the process of company registration in Pakistan is informed to the registrar.
Form 29 contains information about the particulars of the directors of the company that is undergoing the process of company registration in Pakistan.
Power of Attorney
Power of Attorney in favor of any person authorized to submit documents and link with the company registration office about different issues during company registration in Pakistan.
Copies of CNIC’s of All Directors
Copies of CNIC are of all Directors and witness who signed the memorandum and articles of Association of the company that is undergoing the process of company registration in Pakistan.
Name Availability Letter of SECP
Name availability Letter receives from the Securities and Exchange Commission of Pakistan confirming the name applied for the company that is undergoing the process of company registration in Pakistan.
Company Registration Process: Step #. 3 Documents Submission
The final step in the process of company registration in Pakistan is to submit all the above stated documentations to the registrar of the companies. Once pleased with the documents of incorporation of certification of the new company registered is issued by Securities and Exchange Commission of Pakistan within 3 working days and the process of company registration in Pakistan finishes with the issuance of this certificate of incorporation (CUI).
At this stage it is value saying the advantages related with company registration as Private Limited Company. Few of the rewards are as under:
Minimization of Business Risk:
Small business owners often obligate one common error that is mixing the money earned through business with their personal wealth. As long as the business is going profitable there is no harm in the aforementioned practice but let’s take the condition if the business goes into loss then as per the requirements of Companies Ordinance, 1984 if you have not registered your company as Private Limited company even the personal property of the proprietor can be taken by the Government to settle the debts of the business.