Understanding the Process of Company Name Reservation in Pakistan
Introduction
Starting a business in Pakistan involves several steps, one of which is reserving a company name. The company name is not just a formality but a crucial aspect of your business identity. It’s essential to understand the process of company name reservation in Pakistan to ensure a smooth start to your entrepreneurial journey. In this article, we’ll guide you through the steps involved in reserving a company name in Pakistan.
1. Determine Business Structure:
Before you can reserve a company name, you need to decide on the type of business structure you want to establish. In Pakistan, common business structures include sole proprietorship, partnership, private limited company, and more. Your choice of structure will affect the name reservation process, so it’s important to make this decision first.
2. Check Name Availability:
Once you’ve determined your business structure, the next step is to check the availability of your desired company name. The Securities and Exchange Commission of Pakistan (SECP) is the authority responsible for company registration and name reservation. You can visit their website (https://www.secp.gov.pk/) and use their online name search tool to check if your desired name is available. Ensure that your proposed name is unique and not already registered by another entity.
3. Naming Guidelines:
The SECP has specific guidelines for naming a company in Pakistan. Your company name must not be identical or deceptively similar to any existing company’s name. Additionally, it should not violate any trademarks, copyrights, or intellectual property rights. Ensure that your proposed name does not contain any offensive or prohibited words.
4. Prepare Name Reservation Application:
Once you’ve confirmed the availability of your desired company name and ensured it complies with the naming guidelines, you can proceed to prepare a name reservation application. This application is a formal request to reserve the chosen name for your business entity.
5. Submit Application to SECP:
You can submit the name reservation application to the SECP online or at their regional offices. Make sure to provide all the necessary documents, including a copy of your CNIC (Computerized National Identity Card) and other required information. Pay the prescribed fee for name reservation as specified by the SECP.
6. Review and Approval:
The SECP will review your name reservation application and may take a few days to process it. During this time, they will assess the name’s compliance with their guidelines and perform a background check to ensure it meets all legal requirements. If there are no issues, your application will be approved.
7. Name Reservation Certificate:
Once your application is approved, you will receive a name reservation certificate from the SECP. This certificate confirms that your chosen company name is reserved for your business entity for a specific period, usually 90 days. It’s essential to complete the company registration process within this timeframe to secure your chosen name.
