Documents Required for Online Company Registration in Pakistan
Introduction:
In Pakistan, the process of company registration has been streamlined with the introduction of online registration services by the Securities and Exchange Commission of Pakistan (SECP). Online company registration offers convenience and efficiency, allowing entrepreneurs to register their businesses from anywhere with an internet connection.
Definitions:
Securities and Exchange Commission of Pakistan (SECP): The SECP is the regulatory authority in Pakistan responsible for overseeing and regulating corporate affairs, including company registration and compliance.
Memorandum of Association (MoA): The MoA is a legal document that outlines the company’s objectives, scope of activities, and internal governance structure. It is a fundamental document required for company registration.
Articles of Association (AoA): The AoA contains rules and regulations governing the internal management and operations of a company. It specifies the rights and responsibilities of shareholders, directors, and officers.
Documents Required for Online Company Registration:
Digital Signature Certificate (DSC):
A valid Digital Signature Certificate is required for all directors and subscribers of the company.
The DSC is obtained from the National Institutional Facilitation Technologies (NIFT), an authorized service provider.
National Identity Card (NIC) of Directors and Subscribers:
Scanned copies of the National Identity Cards of all directors and subscribers must be provided.
NICs serve as proof of identification and are required for verification purposes.
Memorandum of Association (MoA) and Articles of Association (AoA):
Prepare the MoA and AoA in accordance with the Companies Act, 2017.
These documents outline the company’s objectives, scope of activities, internal governance structure, and rules governing the management of the company.
Consent to Act as Director:
Obtain written consent from each director, declaring their willingness to act as a director of the company.
This consent should be provided on a stamp paper of the requisite value and signed by the director.
Form 1 – Declaration of Compliance:
Prepare Form 1, which is a declaration of compliance with the legal requirements for company registration.
This form should be signed by a director, secretary, or other authorized officers of the company.
Form 21 – Notice of Situation of Registered Office:
Provide details of the company’s registered office address, including the complete address and a utility bill as proof of address.
Form 29 – Particulars of Directors, Chief Executive, and Secretary:
Prepare Form 29, which contains the particulars of directors, the chief executive, and the secretary of the company.
This form should include details such as names, addresses, NIC numbers, and other relevant information.
Payment of Registration Fee:
Pay the prescribed registration fee through an online payment system, such as credit/debit cards or online banking.
The fee varies depending on the authorized share capital of the company.
Examples:
ABC Technologies (Private) Limited:
ABC Technologies decided to register their company online in Pakistan.
The directors and subscribers obtained Digital Signature Certificates (DSC) from NIFT.
Scanned copies of their National Identity Cards (NICs) were submitted as proof of identification.
The Memorandum of Association (MoA) and Articles of Association (AoA) were prepared, outlining the company’s objectives and internal governance structure.
Consent to Act as Director was obtained from each director, and Form 1 (Declaration of Compliance) was signed by an authorized officer.
Form 21 (Notice of Situation of Registered Office) was filed with the details of the registered office address and a utility bill as proof.
Form 29 (Particulars of Directors, Chief Executive, and Secretary) was prepared, providing the necessary information about the directors and officers.
The registration fee was paid online through the designated payment system.
Case Studies:
XYZ Trading Company:
XYZ Trading Company opted for online registration to establish their business in Pakistan.
The directors and subscribers obtained Digital Signature Certificates (DSC) as required by the SECP.
Scanned copies of their National Identity Cards (NICs) were provided for identification verification.
The Memorandum of Association (MoA) and Articles of Association (AoA) were drafted, clearly outlining the company’s objectives and internal governance structure.
Consent to Act as Director was obtained from each director, with their signatures on a stamp paper.
Form 1 (Declaration of Compliance) was prepared and signed by an authorized officer, affirming compliance with the legal requirements.
Form 21 (Notice of Situation of Registered Office) was submitted with the registered office address and relevant proof of address.
Form 29 (Particulars of Directors, Chief Executive, and Secretary) was filled with the necessary information about the directors and officers.
The registration fee was paid online, completing the online registration process.
Conclusion:
Online company registration in Pakistan has simplified the process, allowing entrepreneurs to register their businesses conveniently. The required documents for online company registration include Digital Signature Certificates (DSC) for directors and subscribers, National Identity Cards (NICs) for identification verification, Memorandum of Association (MoA), Articles of Association (AoA), consent to act as director, various registration
