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Registration of a Company in Pakistan
Company Registration in Pakistan - Requirements and Procedure
Registration of a Private Limited Company, Single Member
Company, Public Limited Company in Pakistan
This brief overview explains, in very general terms, the procedure and
requirements for registration of a company in Pakistan. These brief notes
are for general guidance only and should not be taken as a substitute for
thorough and professional legal advice.
Types and Forms of Companies which may be Registered in Pakistan
The following types of companies may be registered in Pakistan:
-
A private limited company,
which may be a single member company
-
A public limited company,
which may be listed or unlisted
-
A foreign company
How to Register a Company in Pakistan?
Companies remain the most favored form of business organizations in Pakistan
especially for medium and large-scale business enterprises. Legal regime for
establishment and regulation of companies in Pakistan is given in the
Companies Ordinance, 1984. Whereas the function of administration of these
companies is vested in the Securities and Exchange Commission of Pakistan
and the Registrar of Companies appointed by the Securities and Exchange
Commission of Pakistan for a Province of Pakistan where such company is to
be registered.
Under the provisions of the Companies Ordinance, 1984 a company is a
corporate body with separate legal entity and a perpetual succession and a
company may be formed by persons associating for any lawful purpose by
subscribing their names to the Memorandum of Association and complying with
other requirements for registration of a company under the provisions of the
Ordinance.
The Companies Ordinance, 1984 provides three different types of companies:
-
A company limited by
shares
-
A company limited by
guarantee
-
An unlimited liability
company
Further, under the Companies Ordinance, 1984 two types of limited liability
companies are provided namely, a) a private limited company and b) a public
limited company (which may be listed or unlisted). Any one or more persons
associated for any lawful purpose by subscribing their name(s) to the
Memorandum of Association and complying with other registration specific
requirements of the Companies Ordinance, 1984 may incorporate a private
limited company. Provided that where a company has only one subscriber to
the Memorandum of Association then such a company is called a Single Member
Company, however, a Single Member Company remains a private limited company
for all intents and purposes of the Ordinance. Whereas any three or more
persons so associated may form a public limited company. A company limited
by shares whether a private company or a public company is the most common
vehicle for carrying out a business enterprise in Pakistan.
Prior approval of the relevant Ministries/Departments is required to be
obtained before incorporation of the following companies:
-
A banking company
-
A non-banking finance
company
-
A security service
providing company
-
A corporate brokerage
house
-
A money exchange company
-
An Association not for
profit u/s42 of the Companies Ordinance, 1984
-
A trade organization u/s
42 of the Companies Ordinance, 1984
Procedure for Registration of a Company in Pakistan
Following are the requirements for registration of a company in Pakistan:
Step No. 1 for Registration of a Company
in Pakistan
Availability of Name
The first step with regard to incorporation of a company is to seek
availability of the proposed name for the company from the Registrar. For
this purpose, an application is to be made and a fee of Rs.200 is required
to be paid for seeking availability certificate.
Step No. 2 for Registration of a Company
in Pakistan
Filing of documents required for registration of a private limited
company in Pakistan
The following documents are required to be filed with the registrar
concerned for registration of a private limited company in Pakistan:
Copy of national identity card or passport, in case of foreigner, of each
subscriber and witness to the memorandum and article of association.
Memorandum and articles of association - Four printed copes of Memorandum
and Articles of Association duly signed by each subscriber in the presence
of one witness.
Form 1 - Declaration of compliance with the pre-requisites for formation of
the company.
Registration/filing fee - A copy of the original paid Challan in the
authorized branches of Habib Bank Limited or a Bank Draft/ Pay Order drawn
in favor of the Securities and Exchange Commission of Pakistan of the
prescribed amount.
Authorization by sponsors - The authorization of sponsors in favor of a
person to make good the deficiencies, if any, in memorandum and articles of
association as may be pointed out by the registrar concerned and to collect
the certificate of incorporation
Documents required for registration of a Single Member Company in
PakistanAny person may form a single member company and would file with
the registrar at the time of incorporation a nomination in prescribed form
indicating at least two individuals to act as nominee director and alternate
nominee director, of the company in the event of his death. All requirements
for incorporation of a private limited company shall mutatis mutandis apply
to a single member company.
Documents required for registration of an association not for profit in
Pakistan
All the documents meant for incorporation of a limited company along with a
license issued by the SEC. In case of a trade body, a license issued by the
Ministry of Commerce would also be submitted to the registrar concerned. The
application for obtaining the requisite license from the Commission should
be accompanied by draft memorandum and Articles of Association, list of
promoters, bio-data of each promoter, declaration, names of companies in
which the promoters of the proposed association hold any office, estimates
of annual income and expenditure and brief statement of work already done or
to be done.
Relevant laws of Pakistan for registration of a
company in Pakistan:
Companies
Ordinance, 1984
Companies (General Provisions and Forms) Rules, 1985
Single Member Companies Rules, 2003
Schedule filing fees
Chambers, Bureaus, Trade Bodies & Associations
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Government of Pakistan
Block-A, Finance &
Trade Centre Shahra-e-Faisal Karachi-75200 Pakistan.
UAN: 111-444-111 PABX: +92-21-9206487-90, Fax: +92-21-9202713
FAX ON DEMAND SERVICE: 111-EPB-PAK, 111372-725,
9202700-03,9202706,9202708-10
REGIONAL OFFICES
I S L A M A B A D
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BUREAU GOVERNMENT OF PAKISTAN
1st Floor, 26-D, West Kashmir Plaza, Blue Area Islamabad
Tel: +92-51-9205996,+92-51-9210414,+92-51-9212174 UAN:
+92-51-111444111
Fax: +92-51-9201736, +92-51-9201596
Email:
epbisb@isb.comsats.net.pk
L A H O R E
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BUREAU GOVERNMENT OF PAKISTAN
62, Garden Block, Garden Town, Lahore.
Tel: +92-42-5834821, +92-42-5867229UAN: +92-42-111444111
Fax: +92-42-5881537,+92-42-5865114
Email:
eiac@epblhr.gov.pk
P E S H A W A R
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BUREAU GOVERNMENT OF PAKISTAN
Plot No. 24, Phase-V, Hayatabad, Peshawar.
Tel: +92-91-9217120-25
Fax: +92-91-9217126
Email:
epb@psh.paknet.com.pk
Q U E T T A
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BUREAU GOVERNMENT OF PAKISTAN
Opp. Session Court Building, Shahra-e-Iqbal, Quetta.Tel:
+92-81-9201109, +92-81-9202562
Fax: +92-81-9202053
Email:
epb_quetta2k@yahoo.com
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