How To Register A Company In SECP In Pakistan SECP is an authority where you can register your business or any other type of company. If you have a small or medium-sized business, this post will help you know the steps for registering a business in SECP. If you are planning to start or register a company in Pakistan, you first need to visit the website of the Securities and Exchange Commission of Pakistan (SECP).
Register A Company In SECP In Pakistan The SECP is the official regulatory authority for private companies and mutual funds in the country. The agency regulates the securities market and its participants. It protects investors' interests by regulating the offering of public securities and trading public companies' shares on stock exchanges. You can visit the SECP website at www.secp.gov.pk to register a company online. Once on the website, click on the 'How to Register a Company' button on the homepage to get to the registration form for company registration. Follow the below-mentioned guide to register a company in SECP in Pakistan: Read more about Company Registration Online in Pakistan.
Step 01: To form a private limited company under the Companies Ordinance, you must follow a few steps. You must first choose a name for your company. You must then file an application with the SECP for registration of your company. After that, request it to approve the name you have chosen for the company. If the SECP approves the proposed name, you can form the company under the requirements of the Companies Ordinance. The fee for the registration of a private company is PKR 500. You must pay it at the time of applying for registration of the company with the SECP. Once you submit your completed application and the necessary documents to the SECP, you can expect the registration process to take about four to six weeks to complete. Once the registration is approved, a certificate of incorporation will be issued to the company.
Step 02: On registering your private limited company with the Companies Ordinance, you are not eligible to offer or sell any securities to the Public until you have approval from the SECP. You can register yourself with the Exchange Control Department (EC). When you apply for registration with the
EC, you will need to submit a copy of the certificate of incorporation of your company as well as a copy of the memorandum and articles of association to your application. You will also have to provide details about the names of all the directors of the company and the names and addresses of all the company shareholders. You will also need to indicate whether or not the company is a joint venture or has a foreign partner. Your application will need to be approved by the EC before you can submit it for approval by the SECP. Approval can take about four weeks to come through. Once you have received the approval of the EC, you can apply for approval of the company name to the SECP. You will need to pay PKR 2000 to apply for approval of a company's name. Once SECP approves, the company can apply for a prospectus, which is necessary to float a public offering of shares to the Public.
Why Should You Register A Company In SECP In Pakistan You should consider to register a company in SECP in Pakistan for many reasons. The main benefits of registering a company with the SECP include the following:
1. Access To Funding From Investors Most corporations need more credibility and the ability to prove their business operations to raise capital from external sources. However, by registering your company with the SECP, you will have the credibility and the ability to produce financial statements which will assist in obtaining funding.
2. Access To A Global Network Of Professionals As you will be receiving funds for your company, you will be required to invest these funds in a business to grow your profits. Therefore you will need to collaborate with other business leaders to ensure that your company operates efficiently and generates maximum profit. By registering your company with the SECP, you can access a global community of like-minded business professionals, which will help you develop your business network and grow your business.
3. Easier Access To Banking Services Registering your company with the SECP will give you access to a global network of banks that can assist you in expanding your business and streamlining your finances. Banks will offer special banking packages to registered companies designed to meet your business's specific needs.
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4. Easier Access To Investors If you are planning to launch an initial public offering, obtaining high-quality advice from experienced financial professionals is essential. The advisors at SECP can provide expert advice on all aspects of IPOs and capital markets strategy. Thus, allowing you to obtain a higher valuation for your shares and attract a larger pool of potential investors.
5. Ease Of Doing Business Many requirements need to be fulfilled before you can launch a successful business operation in Pakistan. However, by registering your company with SECP, you will be able to fulfill these requirements without dealing with individual government agencies. Hence, it can be extremely time-consuming and inefficient.
6. Protect Your Assets Pakistani law is notoriously complicated and confusing, especially regarding tax legislation. To avoid making costly mistakes, register your company with the SECP, which will provide you with a point of contact for any queries or concerns you may have about the tax code or other relevant regulations.
7. Cost-Effectiveness Registering your company with SECP is highly cost-effective. You will only have to pay a nominal fee per company per year. In addition to this, you will also have access to several free resources and services. These include educational materials, technical seminars, and online business courses. These courses will help to develop the skills of your business staff. Thus, in turn, will provide you with a better understanding of the latest industry trends and technology innovations. Suppose your company is planning to expand overseas. In that case, a person must follow several rules and regulations. Hence, it will ensure that their business activities comply with the laws of the country where they intend to operate.