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Benefits of using SECP online company registration system in Pakistan

Benefits of using SECP online company registration system in Pakistan

If you are planning to start a business in Pakistan, one of the first steps you need to take is to register your company with the Securities and Exchange Commission of Pakistan (SECP). SECP is the regulatory authority for all corporate entities and capital markets in the country. It is responsible for ensuring compliance with the laws and regulations governing the formation, management, and operation of companies.

One of the ways to register your company with SECP is to use its online company registration system (OCRS). OCRS is a web-based portal that allows you to submit your application and documents electronically, without having to visit any SECP office or intermediary. OCRS also provides you with online guidance and assistance throughout the registration process.

There are many benefits of using OCRS for your company registration, such as:

– Convenience: You can access OCRS from anywhere and at any time, as long as you have an internet connection and a computer or a smartphone. You can also save your application and resume it later, if you need more time to complete it. You can also track the status of your application online and receive notifications via email or SMS.
– Cost-effectiveness: You can save money by using OCRS, as you do not have to pay any fees to intermediaries or agents. You only have to pay the prescribed SECP fees, which are lower than the fees charged by other modes of registration. You can also save on travel and courier expenses, as you do not have to visit any SECP office or send any physical documents.
– Speed: You can register your company faster by using OCRS, as it reduces the processing time and eliminates the chances of errors or delays. OCRS also allows you to obtain your digital certificate of incorporation within minutes of approval, which you can download and print from the portal. You can also use your digital certificate to open a bank account or apply for other licenses or permits.
– Security: You can ensure the security and confidentiality of your information by using OCRS, as it uses encryption and authentication mechanisms to protect your data. OCRS also verifies your identity through biometric verification or e-KYC (electronic know-your-customer) services, which reduces the risk of fraud or identity theft.

To use OCRS, you need to follow these steps:

– Create an account on the OCRS portal (https://eservices.secp.gov.pk/eServices/) by providing your email address and mobile number.
– Choose the type of company you want to register (single member company, private limited company, public limited company, etc.) and fill in the required information.
– Upload the scanned copies of the required documents (such as memorandum and articles of association, identity proofs, address proofs, etc.) in PDF format.
– Pay the SECP fees online through credit/debit card or internet banking.
– Submit your application and wait for approval from SECP.
– Download your digital certificate of incorporation from the portal.

Using OCRS is a simple and convenient way to register your company with SECP in Pakistan. It saves you time, money, and hassle, and allows you to start your business journey with ease. If you need any help or guidance during the registration process, you can contact SECP through its helpline (0800-88008) or email (queries@secp.gov.pk).