Easy procedure for registering a company/firm?

[Lonely_Puma]

I want to register a firm through the SECP (Security and Exchange Commission of Pakistan) but their website and instructions seem extremely complicated. I even went to their office in Islamabad, and found little to no help. They make it very difficult. The online registration through the digital signature method, seems very confusing and even then requires one to travel to their offices for some payment.

Could someone please guide me to an easy way of registering a firm? Or maybe even some links to people who can handle the process for a commission? My only condition is that it has to be done legally with NO bribery (rishwat).

[livewire1]

Get it done through any audit firm which gives corporate consultancy services.

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[2fast_to_furious]

I want to register a firm through the SECP (Security and Exchange Commission of Pakistan) but their website and instructions seem extremely complicated. I even went to their office in Islamabad, and found little to no help. They make it very difficult. The online registration through the digital signature method, seems very confusing and even then requires one to travel to their offices for some payment.

Could someone please guide me to an easy way of registering a firm? Or maybe even some links to people who can handle the process for a commission? My only condition is that it has to be done legally with NO bribery (rishwat).

On one place you're against bribery and on other ready to give.

[nabeel112]

It hardly takes 10 mins to get your firm registered if you know the process. But as you dont know, go to firm registration office and ask any clerk to do it for you. Bargain as much as you can.

[Lonely_Puma]

On one place you're against bribery and on other ready to give.

Sorry by commission I meant charging for their time for doing the paperwork, not for paying any government officer.

Any idea where I can get contact details of local audit firms in Islamabad?

[livewire1]

Phone 5581677 horwath Hussain chaudhry & Co.
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[livewire1]

BTW whats the name of company ur going to register???

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[capsat]

if you are a CNIC holder and have a rented / ownership commercial place to manage a business you can register yourself ONLINE.

what you need is:

1. rental contract and a utility bill for the premises in your name with date
2. open a bank account -under company name with premises registered address and obtain a bank certificate with cnic number, account number company name and date of account opening.
3. goto Federal Board of Revenue, Government of Pakistan - online and apply for NTN here

ensure that the email address & cell number you submit on that website online form are 100% under your control at all times.

there is no rocket science involved anymore. But - BUT - But you need to make sure that once you are registered tax payer with an NTN number, there is no way you can have an excuse of non compliance for GOVT taxation process.

services are controlled by provinces, imports & supplies are under central govt and sales tax of 16% (provincial) & 17% (central) is charged. flat 6% income tax is charged by central govt.

take no hasty decisions because once you are registered it is a spider trap, however it so much fun to play around with legit system you will enjoy paying tax and have an upper hand. [ to some i may sound CHOI ]

[bigmaster]

if you are a CNIC holder and have a rented / ownership commercial place to manage a business you can register yourself ONLINE.

what you need is:

1. rental contract and a utility bill for the premises in your name with date
2. open a bank account -under company name with premises registered address and obtain a bank certificate with cnic number, account number company name and date of account opening.
3. goto Federal Board of Revenue, Government of Pakistan - online and apply for NTN here

ensure that the email address & cell number you submit on that website online form are 100% under your control at all times.

there is no rocket science involved anymore. But - BUT - But you need to make sure that once you are registered tax payer with an NTN number, there is no way you can have an excuse of non compliance for GOVT taxation process.

services are controlled by provinces, imports & supplies are under central govt and sales tax of 16% (provincial) & 17% (central) is charged. flat 6% income tax is charged by central govt.

take no hasty decisions because once you are registered it is a spider trap, however it so much fun to play around with legit system you will enjoy paying tax and have an upper hand. [ to some i may sound CHOI ]

before getting NTN and bank account, he needs to first register the company with secp.

OP google for secp e-services. they've launched this new service some time back and the instructions are very simple and clear.

You can easily do it yourself. or you can pay maybe ~rs10k or so to a law firm or what ever to do it for you...

[Vajih102]

@capsat, one can't open a bank Account in a Company's name without NTN.

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[capsat]

SECP registration is required only for PVT & Public limited companies. Not for Proprietorship or AOP (Association of partners[persons]) under 1 mil. capital or combined share holding.

banks have clear instructions from State Bank & FBR to open up a bank account for proprietorship & partnership companies with a capital upto 1 Million and issue a bank certificate. The cheque book for operations is issued only after NTN is allocated.

[Vajih102]

Thanks!

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