[Updated] The tried and tested way of Company registration is the offline (manually) way. Its usually carried out by professionals of the field and is preferred for big companies and those with lots of dependencies, foreign investments, etc. otherwise for a regular startup, an online procedure is still a good option.
ETA for manually registring of company
- Normal way: 1-2 weeks
- Fast Track: 2-4 weeks and sometimes over a month depending on the nature of company organization and paperwork delays.
Following are the steps for company formation:
- Application to Check Availability of Name
- Payment of Registration & Filing Fee
- Documentations Requirements For Filing
Step 1: Application to Check Availability of Name
An application to the Registrar is made on SECP prescribed form for availability of the proposed name by mentioning objects of the company on that. Requestor is needed to attach attested copy of the CNIC and the paid challan receipt in original with the application.
Fee for this application is as under:
- Rs. 235/- for ordinary process and ;
- Rs. 735/- for urgent process.
The Challan Form is to be generated from SECP’s website and paid in MCB’s prescribed branches.
The SECP will process the ordinary application in two to three days and urgent application in twenty four hours and issue a Name Availability Certificate.
Step 2: Payment of Registration & Filing Fee
Once you have received the Name Availability Certificate, generate a Challan Form of requisite fee from the SECP’s website in accordance with the SECP’s fee schedule. The fee can be paid in prescribed branches of MCB.
Step 3: Document Requirements For Filing
You are now ready to prepare documentation for filing.
(a). Private Limited Company
For a Private Limited Company following documents are required to be filed;
- Memorandum of Association & Articles of association (4 copies of each duly signed by all directors and a witness to the director signatures)
- Form 1 – Declaration of compliance with the pre-requisites for the formation of a company.
- Form 21 – Notice of situation of registered office of the company
- Form 29 – Details of Directors/Officers of the Company
- Attested copies of CNICs of all directors and of the witness to the director’s signatures
- Special Power of Attorney of a person to make filing or to remove deficiencies in documentation, if any, raised by the SECP.
- Paid Challan receipt in original.
(b). Public Limited Company
All above documents including;
- Form 27 – List of persons consenting to act as director
- Form 28 – Consent of Directors
(c). Single Member Company (SMC)
All requirements of a Private Limited Company are applied to an SMC. Following additional document is filed for SMC’s registration;
Form S1 – appointing at least two individuals to act as nominee director and alternate nominee director, of the company in case of the director’s death.
After receiving all documents, SECP will issue an Incorporate Certificate within two to three days in case of ordinary process and in twenty four hours in case of urgent process.
Fees for manual company registration
- Normal Way: This procedure takes around 1 week and will cost you around 6000 PKR. This cost is subject to minimum paid up capital
- Fast Track Registration Services (FRTS):This procedure takes around a month but usually 2-4 weeks. This will cost you around 10000PKR and is subject to minimum paid up capital
If you need professional help,
We have a special arrangement with our legal expert partners that can help you in any type of company registrations (foreign or local). You have the opportunity to get discount from them if you contact them via Clarity.pk. Offer is still active!
To avail this offer, drop us an email to get in touch with them.