Post-Incorporation Guide – What Happens After SECP Approval?

Receiving your Certificate of Incorporation from the Securities and Exchange Commission of Pakistan (SECP) is an exciting milestone. But incorporation is just the beginning — several essential steps must follow before your company becomes fully operational and compliant.

Many business owners think SECP approval is the final step, but in reality, post-incorporation compliance determines whether your company can legally transact, open a bank account, hire employees, and participate in tenders or exports.

This guide explains everything you need to do right after SECP approval — from tax registration to bank account setup and beyond.

Step 1: Obtain the Certificate of Incorporation

Once SECP approves your company’s documents, it issues a Certificate of Incorporation. This is your company’s legal birth certificate — proof that your business exists under the Companies Act, 2017.

The certificate includes:

• Company name and registration number

• Date of incorporation

• Type of company (Private Limited, SMC, Public, etc.)

• Jurisdiction of incorporation

You’ll need this document for all further registrations, including FBR, bank, and PSEB.

Step 2: Apply for a National Tax Number (NTN)

Every incorporated company must register with the Federal Board of Revenue (FBR) to obtain an NTN (National Tax Number). Without an NTN, your company cannot issue invoices, open a corporate bank account, or file taxes.

FBR Registration Requirements

• Certificate of Incorporation

• CNICs of directors/shareholders

• Company’s registered address

• Contact details and email

• Memorandum & Articles of Association

Steps to Register

1. Visit https://iris.fbr.gov.pk/

2. Create an account under the “Company” category

3. Fill out registration details

4. Upload required documents

5. Submit for FBR approval

Once approved, your company will receive an NTN certificate via email.

Step 3: Open a Business Bank Account

After obtaining your NTN, the next step is to open a corporate bank account in your company’s name.

Documents Required

The bank will verify your details before activating the account. All company income and expenses must be processed through this account — never use personal accounts for business transactions.

Step 4: Register for Sales Tax (If Applicable)

If your business provides taxable goods or services, you must register for Sales Tax with FBR.

Common Businesses That Must Register

• IT or software service providers (if billing locally)

• Retail and wholesale traders

• Manufacturers and importers

• Construction and logistics firms

Sales tax registration is done via the same IRIS portal. After approval, you’ll receive a Sales Tax Registration Number (STRN) and will need to file monthly returns.

Step 5: Register with PSEB (For IT and Freelance Companies)

If your company provides IT, software, or freelance services, register with the Pakistan Software Export Board (PSEB). PSEB registration helps you access export incentives, tax exemptions, and international visibility.

Benefits of PSEB Registration

• Recognition as an IT/Software export company

• Eligibility for tax exemptions under IT policies

• Access to export remittance certification

• Listing on PSEB’s official IT exporters directory

Requirements for PSEB Registration

• SECP Certificate of Incorporation

• NTN and STRN

• Company profile and website link

• Export remittance record (if applicable)

You can apply at https://pseb.org.pk/ under the “Company Registration” section.

Step 6: Maintain Statutory Registers and Records

After incorporation, your company must maintain certain statutory registers as per SECP regulations. These records serve as your company’s legal documentation and should be updated regularly.

Failure to maintain these registers may lead to compliance penalties during SECP inspection.

Step 7: File Form 29 (Director Information)

Whenever a director, CEO, or company secretary is appointed or removed, you must file Form 29 with SECP within 15 days. This keeps SECP’s public record updated and ensures compliance with Section 197 of the Companies Act, 2017.

Example:
If a director resigns or a new one joins, the company must submit Form 29 along with the updated list of directors and their CNICs.

Step 8: File Form A Annually

Form A (Annual Return) must be filed once a year, within 30 days of the Annual General Meeting (AGM). It confirms your company’s updated details — directors, shareholders, and address — ensuring SECP recognizes it as “active.”

Timely filing keeps your business compliant and helps avoid penalties.

Step 9: Get a Digital Signature Certificate (DSC)

All SECP filings (Form A, 29, etc.) are done online and require a Digital Signature Certificate issued by NIFT (National Institutional Facilitation Technologies).

Why You Need It

• To sign documents digitally on SECP’s e-Services portal

• To submit forms securely and electronically

• To prevent identity misuse

Each director or authorized signatory must obtain their own DSC for future filings.

Step 10: Develop a Company Letterhead and Stamp

After incorporation, create an official company letterhead, logo, and stamp displaying:

• Company name and SECP registration number

• Registered office address

• Email and contact number
  These items are needed for bank dealings, invoices, and official correspondence.

Step 11: Register for Employees (EOBI and Social Security)

If your company hires employees, you must register them with:

• EOBI (Employees’ Old-Age Benefits Institution)

• Provincial Social Security Institution

This ensures compliance with labor laws and protects employees’ welfare.

Registration becomes mandatory once you have five or more employees.

Step 12: Prepare for Annual Tax and SECP Filings

After incorporation, companies must file annual reports and tax returns every year.

Timely filings ensure your company remains in active and compliant status.

Step 13: Keep Accounting Records

The Companies Act, 2017 requires all companies to maintain proper books of accounts. This includes:

• Bank statements

• Expense records

• Invoices and receipts

• Payroll and salary records

Maintaining organized financial records also helps with annual audits and tax filings.

Step 14: Consider Trademark and Brand Registration

If your company has a unique name, logo, or product brand, register it with the Intellectual Property Organization (IPO Pakistan) to protect it from misuse.

Visit https://www.ipo.gov.pk/ to file an online trademark application.

Step 15: Stay on Top of Annual Compliance

To avoid penalties and preserve your “Active” SECP status, always monitor annual filing dates.

Companies that fail to comply can be penalized, fined, or marked inactive.

How Sterling Consultancy Can Help

At Sterling Consultancy, we assist new companies beyond incorporation. Our experts handle every post-registration step for you — from tax registration to annual filings — ensuring your company remains compliant and operational.

We offer:

• NTN and Sales Tax Registration (FBR)

• Business Bank Account setup assistance

• PSEB registration for IT and Freelance firms

• Annual SECP compliance (Form A, Form 29)

• Accounting and audit support

• EOBI and Social Security registration

Our goal is to make sure your company runs smoothly from day one — without missing any compliance requirements.

Final Thoughts

Getting SECP approval is just the first step in building a successful business. What truly establishes your company’s presence is completing all post-incorporation formalities — tax registration, compliance filings, bank setup, and maintaining statutory records.

With proper guidance, these steps can be handled quickly and efficiently, allowing you to focus on growth while staying fully compliant.