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Pakistan Foreign Company Registration-Formation
Pakistan Foreign Company Registration-formation
As our discussion on Pakistan foreign company registration-formation information, we serve foreign investors to register new company (private limited), Joint Venture, Branch office, prepare accounts, income tax and audit services.
- As Company Act 1984 every company is registered in Pakistan under SEC and Registrar Office:
Company Registration Authority Company Registrar Office and Security of Exchange Commission. Type of company · Private Limited Liability Company (share)
· Private Limited Liability (Guarantee)
· Public Limited Company
Note: Company is registered as private limited company by shares is regular practice in Pakistan considering foreign share holders.
Name Reservation As Section 37 follow instruction:
· Name should be clear and available
· Name should not be close with other existing name
· Any prohibited name should skip
· As fast track registration services name is registered by four hours in same day (if no objection is found).
· PKR 200 for normal service and PKR 700 (seven hundred) for Fast Track Registration Services fees have to deposit in schedule bank for name reservation (online policy)
· PKR 500 for normal and PKR 1500 (fifteen hundred) for swift mode (off line registration) policy.
Company Registration · Company is registered as off line and/ or on line policy.
· Two or more directors (share holders) are required to register private limited company and three or more directors (share holders) are required to incorporate public limited company as law of Pakistan.
· As Fast Track Registration Services company is registered within short period after verifying Chalan of fees, Memorandum and Article of Association and other forms accordingly.
Responsibilities after company registration · Appoint first chief executive If company is Public Limited.
· Appoint auditor within sixty days after company registration.
· Appoint Company Secretary (chartered secretary) within fourteen days after company is registered.
· Hold first AGM within eighteen months of incorporation and 15 months in next onward AGM.
MoA and AoA · Submit Article of association limited by shares and Articles of Association of Single Member Company as desirable.
· Prepare and submit Memorandum of Association as type of business category.
Annual Return Submission · Company shall submit annual return as under section 205, form 29
Fast-Track-Registration-Service-Pakistan Guide Line.
Liaison or branch office in Pakistan
- Overseas entrepreneurs shall apply to BOI, authority of approval open such office;
- Apply to State bank of Pakistan for next clearance with letter of investment board;
- Apply before expiry to renew , provided that initial permission is given for three to five years;
- Such workplace is not allowed for trading as rules of BOI;
- There are different approval papers of the mother corporation with attested by embassy;
- Meeting decision from sponsors;
- Power given a human who shall proceed taking liabilities in favor of mother organization;
- About more a month (4 weeks ) might needful to complete registration process;
- Enclosed documents conversion in English is compulsory;
New company registration fee in Pakistan
|Category A:||Negotiable: US$ 2500 (small size company)|
|Category B:||Negotiable: US$ 3500 (Medium Size Company)|
|Category C:||Negotiable: US$ 5000 Plus (Big size industry)|
For 100 percent foreign subsidiary companies are recommended to make authorized capital US$ 50,000. To incorporate such company what authorized capital is US$ 150,000 can have minimum 2 (two) directors and maximum 7 (seven) directors. To register such company government official cost can be stand of US dollar 1000.
Time of registering a new company in Pakistan
For joint venture company as Pakistan foreign company registration-formation: to register a company where local persons are appointed as nominee or representative director to start such business in Pakistan may need short time to complete whole procedure.
For wholly foreign ownership company as Pakistan foreign company registration-formation: to register full foreign ownership company security clearance from government shall come in picture. But prior approval from national security, ministry, defense, state bank and other department are not mandatory. It may need 5 (five) weeks in total time to complete whole procedure of registration.
For joint venture company as Pakistan foreign company registration-formation: to register JV company where local and foreign partners agreed to enter into contract to start a business capital may need of US$ 1000 at the beginning. To complete whole registration process it may not far from one week to ten days in total.
Authority: All applications are submitted to Government register office at first and another authority is Board of Investment that is second authority department of new business registration in Pakistan.
Ques: Who is the authority to register a new company in Pakistan?
Ans: Company Registrar Office and Security of Exchange Commission.
Ques: Which is the best method to register a company?
Ans: Private limited company (foreign share holding company)
Ques: How to register a company in Pakistan as steps?
Ans: Company name reservation, prepare MoA and AoA, Appoint secretary and auditor.
Ques: How many directors (partners) are required to register a company?
Ans: Two (2) or more partners are need in case of private limited company.
S & F CONSULTING FIRM LIMITED
Email us: email@example.com
Islamabad, Lahore- Pakistan