Register a Business in Pakistan:
Starting a business in Pakistan can be a thrilling venture, but navigating the registration process can be daunting. In this blog, we’ll break down the steps to register a business in Pakistan, making it easier for entrepreneurs to turn their vision into a reality.
Step 1: Choose a Business Structure
Pakistan recognizes several business structures, including:
- Sole Proprietorship
- Partnership
- Private Limited Company (Pvt. Ltd.)
- Public Limited Company (Pub. Ltd.)
- Single Member Company (SMC)
Select a structure that suits your business needs and goals.
Step 2: Select a Unique Name
Ensure your business name is:
- Unique and memorable
- Not already registered
- Compliant with Pakistan’s naming conventions
Step 3: Register with the Securities and Exchange Commission of Pakistan (SECP)
File the following documents with the SECP:
- Memorandum of Association (MOA)
- Articles of Association (AOA)
- Form 1 (Application for Registration)
- Form 21 (Location of Registered Office)
Step 4: Secure Your Business’s Tax Identity
- Register with the Federal Board of Revenue (FBR) to obtain a unique identifier for tax purposes, known as the National Tax Number (NTN). This crucial step enables your business to comply with Pakistan’s tax regulations and facilitates seamless financial transactions.
Step 5: Register with the Provincial Authorities
Register with the relevant provincial authorities, such as:
- Punjab: Punjab Revenue Authority (PRA)
- Sindh: Sindh Revenue Board (SRB)
- Khyber Pakhtunkhwa: Khyber Pakhtunkhwa Revenue Authority (KPRA)
- Balochistan: Balochistan Revenue Authority (BRA)
Step 6: Obtain Licenses and Permits
Secure all required licenses and permits from the relevant authorities, including:
- Trade License
- Sales Tax Registration
- Professional Licenses (e.g., medical, legal)
Step 7: Open a Business Bank Account
Open a dedicated business bank account to separate personal and business finances.
Step 8: Register with the Employees’ Old-Age Benefits Institution (EOBI) and the Social Security Institution (SSI)
If your business has employees, register with EOBI and SSI to ensure social security benefits.
Conclusion
Register a business in Pakistan requires careful planning and execution. By following these steps, entrepreneurs can ensure a smooth registration process and focus on growing their business. Remember to consult with professionals if needed, and stay up-to-date with changing regulations.