SECP Company Registration: Simplify The Process With Ways Tax
It’s a big choice to start your own business, and one of the first stages towards achieving your entrepreneurial goals is registering your company. The Securities and Exchange Commission of Pakistan (SECP) oversees this process, with over 160,000 companies already registered.
It is necessary to register with the SECP whether you intend to form an association, a sole proprietorship, or a private limited company. You may be thinking, how can one navigate through the complex process without making costly errors? Ways Tax is here to help you. In order to make sure you’re on the correct road from the beginning, we provide professional services and experienced help to expedite the SECP company registration procedure.
What is SECP Company Registration?
The process of officially registering a firm with the Securities and Exchange Commission of Pakistan (SECP) is called SECP company registration. The regulatory body regulating and supervising company incorporations in Pakistan is the SECP.
A business entity that has this registration is given legal recognition and can function legally under Pakistani law.
Why Register Your Company with SECP?
Registering your company with the SECP offers numerous benefits:
- Legal Protection: It grants your business legal status, protecting your assets and limiting your liability.
- Credibility: Registered companies have a higher reputation and credibility, making it easier to attract customers, investors, and partners.
- Tax Advantages: Properly registered businesses may avail of various tax incentives and benefits.
- Access to Financing: Banks and financial institutions prefer dealing with registered companies, making it easier to secure loans or funding.
Types of Business/Company to Register with SECP
Sole Proprietor
A Sole Proprietor is an individual running a business under their own name without any corporate entity. This structure isn’t required to register with SECP, offering simplicity but unlimited liability for the owner.
Limited Liability Partnership (LLP)
An LLP is a hybrid structure combining features of both a partnership and a company, with limited liability for partners. It’s commonly registered with SECP by professionals and businesses seeking flexibility and limited liability.
Single Member Company (SMC PVT LTD)
An SMC PVT LTD is a private limited company with only one shareholder, offering limited liability protection. It is ideal for solo entrepreneurs seeking corporate status and protection under SECP.
Private Limited Company (PVT LTD)
A PVT LTD is a company with limited liability, where ownership is divided among shareholders. It requires at least two members and is the most common business structure for corporations registered with SECP.
To know which type is the most suitable for registration with SECP and simplify your process, let’s discuss with professional at WaysTax.
Online SECP Company Registration Process
Let’s go over the basic process of SECP Company Registration in Pakistan. Even if the procedure can appear simple, there are a lot of legal and technical details that need to be taken care of, which is why hiring an expert is crucial.
1. Create an Account on SECP’s Online Portal
You have to register for SECP company registration online. Click “sign up” to start the registration process.
After completing the necessary fields, an email and SMS will be sent to you with a 4-digit PIN. Your SECP login credentials will be this PIN, your passport number or CNIC, and a password.
2. Choose a Business Structure
The first step is selecting the appropriate structure for your company. The most common types of businesses in Pakistan are:
- Sole Proprietorship
- Partnership
- Private Limited Company (LLC)
- Public Limited Company
Each of these business structures has different legal and operational implications. Choosing the right one for your business depends on factors like liability, tax benefits, and scalability. Ways Tax can help you understand the pros and cons of each structure and make the right decision.
3. Reserve Name
Choose “Name Reservation and Company Incorporation” from the list of options after logging in. Provide three original business names that suit your company’s style.
Select a payment method once the type of business has been determined. Debit and credit cards, bank accounts, mobile wallets, and internet banking are among the alternatives.
4. Provide Company Information
Provide the address, phone number, email address, and industry your business will operate, along with other pertinent company information. To guarantee efficient processing, fill out this section as completely as you can.
Physical Application for Company Registration
If you would rather apply in person, you can download and complete the required paperwork on SECP’s website online and send them to a Company Registration Office (CRO). Islamabad, Karachi, Lahore, and other important cities in Pakistan are among the nine major cities where SECP has offices.
The registrar will reserve your business name for 60 days and then send you a letter confirming its availability after examining your application.Tips for Saving Money: Opting for the online application process is more cost-effective, with lower fees for both name reservation.
SECP Company Registration Documents
Once your company name is approved, you need to submit the incorporation documents to SECP, either online or physically. These documents include:
- Memorandum of Association (MoA), which details your business sector and objectives.
- Articles of Association (AoA), which outline the roles and responsibilities of the company’s directors.
- Scanned copies of directors’ CNICs.
- Proof of payment, such as a scanned bank receipt for offline transactions.
- These documents can be submitted via SECP’s e-portal in PDF format, and registration fees can be paid online.
Digital Signature and Incorporation Certificate Issuance
Following document verification, your company will receive a digital signature from SECP and the National Institutional Facilitation Technologies (NIFT).
You will also need to provide a thorough description of your business operations in order to receive a Certificate of Incorporation, in addition to the digital signature.
Registering with FBR for Taxation
To complete the company registration process, you must also register your business with the Federal Board of Revenue (FBR) for taxation purposes. This requires applying for a National Tax Number (NTN). Documents needed for this process include:
- The NTN application form
- Evidence of incorporation (certificate of incorporation) for the company.
- The association’s articles and memorandum.
- Bank account details.
- Copies of directors’ CNICs.
- Confirmed the company’s address.
For sales tax registration, you’ll need to apply for a Sales Tax Number (STN). Additionally, if your business requires professional tax registration, this must be done through the Excise and Taxation (ET) Department.
SECP Company Registration Fee in Pakistan
SECP company registration fee in Pakistan depends upon the capital value and size of the firm. However, you can use a fee calculator offered by SECP.
SECP’s Company Registration Offices Across Pakistan
Here’s a list of SECP’s Company Registration Offices (CROs) where you can submit your applications physically:
| City | Address | Contact |
| Islamabad | State Life Building 7 Jinnah Avenue Blue Area | 051 9208740 |
| Faisalabad | 2nd Floor, FCCI Building, East Canal Road | 041 9230264 |
| Karachi | State Life Building No 2, 4th Floor, I.I. Chundrigar Road | 021 99213271-2 |
| Lahore | 3rd & 4th Floor, Associated House, 7-Egerton Road | 042 99202044 |
| Multan | 63-A, 2nd Floor, Nawa-I-Waqt Building, Abdali Road | 061 9200530 |
| Peshawar | 1st Floor, State Life Building, The Mall, Cantt | 091 9213178 |
| Quetta | Ground Floor, Aiwan-i-Mashriq Building, Shara-e-Hali | 081 2844136 |
| Sukkur | House No 4, Block A, Smchs, Airport Road | 071 5630517 |
| Gilgit | Adjacent to NHA Office, Ayub Colony, Jattial | 05811 922572 |
How WaysTax can help?
WaysTax can help in the following;
- SECP new company registration
- SECP company verification
- SECP name reservation
- SECP firm registration
- SECP incorporation certificate
- SECP registration certificate
- SECP sole proprietorship registration
- SECP Pvt Ltd company registration
- Filling and Submitting Form 7 to SECP
SECP Registration in Pakistan: FAQs
Contact Ways Tax for Professional Help
It can be difficult and time-consuming to navigate the SECP company registration process because there are many legal and technological factors to take into account. That is where Ways Tax comes in!
Our staff of experts is here to help you streamline the entire procedure. We make sure you don’t make expensive mistakes and complete everything the first time, from choosing the best business structure to filing the required paperwork and obtaining your company’s legal status.
Let Ways Tax handle the complexity for you.
Reach out to us today, and we’ll make your SECP company registration process smooth and hassle-free!