Technology

How to Register a Company Online in Pakistan? Complete Guide

Want to register your startup? Here is a step wise guide for you

Spread the love

How to Register a Company Online in Pakistan? Complete Guide. SECP has introduced various online services in recent years. Once of these services is “online company registration in Pakistan.” This facility has actually cut fatigue of startups and new businessmen. Now public can easily register their company via online mechanism.

The time period for company registration consists of:

  • Normal Way:3 days
  • Fast Track Registration Services (FRTS): 1 day only

Companies having “Foreign Directors” i.e. Non Pakistani requires the security clearance. In this case, such companies are supposed to submit the “subsequent undertaking.” The subsequent undertaking is usually submitted mainly for the Foreign directors.

For “Online Company Incorporation” under the newly developed “Companies Act 2017”, the entire process is divided into 3 simple steps:

Step 1: Online Account with SECP

The very first step is to create an online account under “new user registration system” of e-Services.

  1. Every Subscriber/Director or Shareholder would be termed as a user here and requires their own registration of account with the E-services portal SECP.
  2. New Users can be registered here at the https://eservices.secp.gov.pk/eServices/
  3. Data fields require some mandatory information such as CNIC, mobile phone number & Email address of the user.

How to Register a Company Online in Pakistan? Complete Guide

Step 2: Reservation of “Company Name”

After the successful development of “User Ids” for every subscriber of the proposed company, the next step towards company incorporation is to look for the availability of name from Registrar concerned in the terms of Section-37 of the “Companies Ordinance, 1984”.

Before applying for the name reservation, make sure that proposed name complies with following conditions:

  1. It is neither identical nor closely resemble with the name of any existing company;
  2. It is not inappropriate and deceptive; and
  3. It doesn’t contain any prohibited word.

Steps required for Online Reservation of Names:

  1. Log on to eServices Portal using username and password.
  2. Select FTRS or submit application before 10:00 a.m. under Swift Incorporation Mode if you want urgent processing.
  3. Enter data in the online form.
  4. Sign the form using PIN.
  5. Submit the form for processing.

Make payment of Rs. 200/- for normal and Rs. 700/- for quick incorporation mode for FTRS through credit card or even online fund transfer (MCB & UBL account holders only).

You may also take print out of the fee challan and deposit it in the selected branch of MCB bank or UBL.

NOTE: SECP will Email confirmation of Name within 1 business day if it doesn’t contain any prohibited word.

Step 3: Incorporation of Company

After Name Reservation, user is required to log on to eServices Portal once again. Total documents (Forms) to be uploaded/submitted online are as follows:

  1. Name Reservation Confirmation Email from SECP.
  2. Form 1 which contains Objectives of the company along with subscriber information and prerequisites of company formation.
  3. Form 21 contains notice of situation of registered office or any change therein.
  4. Form 29 contains information about the directors/officers of the company.
  5. Memorandum and Articles of Association as per the objectives of the company. Memorandum and Articles of Association formats are easily available on https://www.secp.gov.pk/company-formation/memorandum-and-articles-of-association/memorandum-of-association/
  6. Submission of Fee as calculated by online portal of SECP after evaluating Authorized Capital of the company. Estimate for online incorporation is available at following link: https://www.secp.gov.pk/company-formation/fee-calculator/company-incorporation-fee-calculator/ 
  7. All users of company have to authorize the form through logging into their user accounts and using PIN created during signup process.

Once all the forms are authorized the the process will become ready for submission. After submission, it takes usually 1 Business day for SECP to issue incorporation certificate through concerned CRO office. An email confirming this would be send to user official email address linked with account.

Now keeping all the concerns of new businessmen about How to Register a Company Online, we have tried to come up with this step wise guide.

Fees for “How to Register a Company Online”

  • Normal Way: This procedure takes around 3 days and will cost you around 3300 PKR. This cost is subject to minimum paid up capital
  • Fast Track Registration Services (FRTS): This procedure takes few hours and is usually settled in 1 day, given that everything required is ready. This will cost you around 5000 PKR and is subject to minimum paid up capital.

Also Read: SECP Goes Digital – Launches SDMS Mobile Application

Tags

Mohsin Kazmi

Mohsin is a passionate content writer who loves to create content on finance, economy, digitization and various other topics.

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *