Registering a business in Pakistan romanbusiness.com/ is a relatively straightforward process. The following are the steps involved:
- Choose the type of business entity you want to register. There are three main types of business entities in Pakistan: sole proprietorship, partnership, and company.
- Choose a business name. Your business name must be unique and cannot be the same as any other business name already registered in Pakistan.
- Get a business license. A business license is required for all businesses in Pakistan. You can apply for a business license from the local government authority in the area where your business will be located.
- Register for taxes. All businesses in Pakistan are required to register for taxes. You can register for taxes with the Federal Board of Revenue (FBR).
- Open a bank account. It is a good idea to open a bank account for your business. This will make it easier to manage your business finances.
Here are the specific requirements for each type of business entity:
- Sole proprietorship
A sole proprietorship is a business owned and operated by one person. There is no separate legal entity for a sole proprietorship. The owner is personally liable for all debts and obligations of the business.
To register a sole proprietorship, you must submit the following documents to the Registrar of Companies:
* A copy of your national identity card (NIC) or passport
* A declaration stating that you are the sole proprietor of the business
* A business name registration form
* A copy of the rent agreement or lease agreement for the premises where your business will be located
* A copy of the electricity bill or water bill for the premises where your business will be located
- Partnership
A partnership is a business owned and operated by two or more people. The partners are jointly and severally liable for all debts and obligations of the business.
To register a partnership, you must submit the following documents to the Registrar of Companies:
* A copy of the partnership deed
* A copy of the NICs or passports of all the partners
* A business name registration form
* A copy of the rent agreement or lease agreement for the premises where your business will be located
* A copy of the electricity bill or water bill for the premises where your business will be located
- Company
A company is a legal entity that is separate from its owners. The owners of a company are called shareholders. Shareholders are not personally liable for the debts and obligations of the company.
There are two types of companies in Pakistan: public limited companies and private limited companies.
- Public limited company
A public limited company can raise capital by issuing shares to the public. Public limited companies are required to have a minimum of seven shareholders and a maximum of fifty shareholders.
To register a public limited company, you must submit the following documents to the Registrar of Companies:
* A copy of the memorandum of association
* A copy of the articles of association
* A copy of the prospectus
* A copy of the NICs or passports of all the directors
* A business name registration form
* A copy of the rent agreement or lease agreement for the premises where your business will be located
* A copy of the electricity bill or water bill for the premises where your business will be located
- Private limited company
A private limited company cannot raise capital by issuing shares to the public. Private limited companies are required to have a minimum of two shareholders and a maximum of fifty shareholders.
To register a private limited company, you must submit the following documents to the Registrar of Companies:
* A copy of the memorandum of association
* A copy of the articles of association
* A copy of the NICs or passports of all the directors
* A business name registration form
* A copy of the rent agreement or lease agreement for the premises where your business will be located
* A copy of the electricity bill or water bill for the premises where your business will be located
Once you have registered your business, you will need to obtain a number of licenses and permits from the relevant government authorities. The specific licenses and permits you will need will vary depending on the nature of your business.
You can find more information about business registration and licensing on the website of the Federal Board of Revenue (FBR).
Benefits of Registering a Business
There are several benefits to registering your business. First, it gives you legal status as a business entity. This means that you can enter into contracts, own property, and sue or be sued in your business name.
Second, registering your business can help you to protect your intellectual