Everything You Should Know About Company Registration in Karachi

Company registration in Karachi can be painful and time-taking process for someone who is not fully aware of the laws, rules and regulations in Pakistan. SECP (Securities and Exchange Commission of Pakistan) is the body which is responsible for company registration in Karachi as well as in Pakistan. All of the regulations and registrations are governed by the Companies Ordinance Act 1984. Many start-ups and new investors find it challenging and therefore they seek the help of consultancies. The law advisory consultancies in Karachi and nearby areas help businesses and companies to get their registration in quick time. However, it is important that you aware of the process. This article will let you understand the process of a company registration in Karachi and other cities in Pakistan.

Any private limited company that may be a single member company (SMC- private limited company or more than one member company), public limited company and foreign companies can get registration in Pakistan. The steps involved while getting a company registration in Pakistan are -

• • The first thing first is the company name. You must choose a suitable company name for your business. Ensure it should not contain prohibited terms. Any deceptive or inappropriate words will not be approved by SECP and the validity of your proposed selection of name will be scrutinized. Therefore, it is important to be cautious while choosing a name for your company.
• • You will require a name availability certificate from SECP to file the application. A small fees is charged for this application and it can be paid using any bank challans at designated Muslim Commercial Banks (MCB).
• • You are required to submit mandatory documents like declaration of compliance, identification of office's location, particulars of directors and copies of Memorandum and Articles of Association with each member's signature.
• • Get the digital signature by National Institutional Facilitation Technologies (NIFT) by using E-services of SECP. After the certificate of incorporation is issued, you may be required to present a company seal.
• • In order to complete your company registration in Karachi, you need to register for Income Tax and other mandatory taxes by Pakistan laws. You're supposed to apply for a National Tax Number (NTN) at the tax facilitation of the RTO.
• • Register with ESSI and EOBI depending on the location of your company.
• • Register with labor department of the district to comply with the labor standard of the worker.

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