Step 1: Approval of Company Name
This is the first step of company registration in Pakistan is choosing the company’s name. It is important to devise a unique company name that would set you apart from the rest in the industry.
You must follow the restrictions and guidelines. For example, make sure that your company’s name does not include any prohibited words.
Step 2: Submission of Documents
Once the company name gets the approval, you need to submit the incorporation documents to the Securities and Exchange Commission of Pakistan (SECP).
Step 3: Certificate of Incorporation
After submitting the documents, the SECP evaluates them. They check their validity. A digital signature is granted by the National Institutional Facilitation Technologies (NIFT) and can be acquired through the SECP.
Also, they issue the certificate of incorporation. Presentation of the company may be needed. However, this depends on where the business started.
Step 4: Deposit of Shares
After the registration, shareholders must deposit their corresponding amount of shares to the company’s bank account.
Step 5: Registration of Income, Sales, and Professional Taxes
In conclusion, the last step of company registration in Pakistan is the registration with the Federal Board of Revenue (FBR) and issuance of a national tax number (NTN). A sales tax registration number may be registered if applicable.