{"id":4315,"date":"2021-05-28T12:22:01","date_gmt":"2021-05-28T09:22:01","guid":{"rendered":"http:\/\/prifinance.loc\/uncategorized\/pakistan\/"},"modified":"2023-12-11T19:40:46","modified_gmt":"2023-12-11T16:40:46","slug":"pakistan","status":"publish","type":"post","link":"https:\/\/prifinance.com\/en\/asian-companies\/pakistan\/","title":{"rendered":"Company registration in Pakistan"},"content":{"rendered":"<div class=\"info-block\">\n<p>Pakistan is a country with a fast-growing economy, comparatively low competition, and a large population with rather qualified local employees. Depending on your business objectives, this jurisdiction may appear to be a good option for company incorporation.<\/p>\n<h2>Major Forms of Legal and Business Presence<\/h2>\n<p>If you want to establish your business and legal presence in Pakistan, you may do this in one of the next major forms:<\/p>\n<ul>\n<li><b><em>Private Limited Company<\/em> <\/b>\u2013 a business entity where the liability of shareholders is restricted to the value of their contributions only. There are no official demands concerning the amount of statutory capital. Still, its amount should be determined taking into account the exact type of business you are going to conduct and potential related expenses. The general approach here is to establish statutory capital in the amount around PKR 100,000. A company should have at least 2 shareholders. The maximum number of shareholders is 50. In the case of a private limited company, certain restrictions for the transfer of its shares are applied.<\/li>\n<li><em><b>Single Member Limited Company<\/b><\/em> \u2013 even one person may found a company in Pakistan and be responsible for the results of its operation within the limits of one\u2019s contribution.<\/li>\n<li><em><b>Public Limited Company<\/b> <\/em>\u2013 a legal entity where the liability of shareholders is restricted to the amount of the shares owned. Still, in this case, a company is entitled to offer its shares to the public. The amount for the statutory capital and shareholders may vary: (i) for a listed company it should be at least PKR 200,000,000 and (ii) for an unlisted company it should be PKR 100,000. The number of shareholders, in this case, has to be at least 3.<\/li>\n<li><em><b>General Partnership<\/b> <\/em>\u2013 an option for doing business where partners are jointly and severally liable for the result of common business activity. Their personal property also may be called to cover potential losses. This arrangement has no separate legal personality and is based on agreement.<\/li>\n<li><em><b>Limited Liability Partnership<\/b> \u2013<\/em> an option for carrying out a common business activity where partners bear limited liability for its results. This partnership has a separate legal personality and can be formed by two partners at least among which should be at least one designated partner who is an individual and a resident of Pakistan.<\/li>\n<li><em><b>Brach<\/b><\/em> \u2013 a form for doing business by a foreign entity in Pakistan. A branch can conduct the same types of business activities as a foreign company.<\/li>\n<li><em><b>Liaison Office<\/b> \u2013<\/em> a form of legal presence designated to investigate local markets and promote the activities of a foreign company in Pakistan without the right of doing business.<\/li>\n<\/ul>\n<\/div>\n<div class=\"info-block\">\n<h2>Registration Requirements and Steps<\/h2>\n<p><b>The company registration process in Pakistan may comprise these preliminary stages:<\/b><\/p>\n<ol>\n<li>Identifying clear business objectives.<\/li>\n<li>Choosing and validating a business name for a future entity.<\/li>\n<li>Collecting the information about founders, beneficial owners and managers of the future company.<\/li>\n<li>Arranging the registered office for a future corporate entity.<\/li>\n<li>Drafting and formalizing the Memorandum and Articles of Association.<\/li>\n<li>Arranging and submitting the set of documents for the registration to the respective Company Registration Office of the Securities and Exchange Commission of Pakistan.<\/li>\n<li>Registration for tax and social security purposes.<\/li>\n<li>Getting additional licenses and permits (optional, may be required in certain cases).<\/li>\n<\/ol>\n<\/div>\n<div class=\"info-block\">\n<h2>Legal and Regulatory Framework<\/h2>\n<p>The legal and regulatory regimes are rather clear and defined. The Companies Act, the Partnership Act, the Limited Liability Partnership Act are the main legal acts regulating the process of establishing and operating a business in Pakistan. The Securities and Exchange Commission of Pakistan, the Federal Board of Revenue, the Employees Old-Age Benefits Institution, the Board of Investment are major regulatory bodies foreign businessmen may have to deal with in this country.<\/p>\n<\/div>\n<div class=\"info-block\">\n<h2>Advantages of the Jurisdiction<\/h2>\n<p><b>Starting a company in Pakistan may be potentially profitable in view of the next advantages the jurisdiction has:<\/b><\/p>\n<ul>\n<li>Easy process of the company incorporation and maintenance<\/li>\n<li>Comparatively low costs for arranging business presence in the country<\/li>\n<li>Good access to the global markets, including financial<\/li>\n<\/ul>\n<\/div>\n<div class=\"info-block\">\n<h2>Tax System of Pakistan<\/h2>\n<p>If you think about a new company registration in Pakistan, consider preliminary these tax highlights of this jurisdiction:<\/p>\n<ul>\n<li><em>Corporate income tax rate \u2013 29 %<\/em><\/li>\n<li><em>Personal income tax rate \u2013 35%<\/em><\/li>\n<li><em>VAT rate \u2013 17%<\/em><\/li>\n<li><em>Withholding tax rates (for non-residents) \u2013 (i) dividends \u2013 15% (ii) interests \u2013 15% (iii) royalties \u2013 15%<\/em><\/li>\n<li><em>Capital gains tax rates \u2013 (i) corporate \u2013 equals to the basic corporate income tax rate (ii) individual \u2013 equals to the basic personal income tax rate.<\/em><\/li>\n<\/ul>\n<\/div>\n<div class=\"info-block\">\n<h2>How Prifinance Specialists May Assist You<\/h2>\n<p>If you want to carry out company registration in Pakistan, Prifinance specialists may consult you on how to do this and suggest equally or even more suitable jurisdictions according to your business priorities. Our lawyers can prepare for you required documents, complete the registration process in fact and support your company during its further operation. Reach us for more precise discussions and suggestions.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Pakistan is a country with a fast-growing economy, comparatively low competition, and a large population with rather qualified local employees. Depending on your business objectives, this jurisdiction may appear to be a good option for company incorporation. Major Forms of Legal and Business Presence If you want to establish your business and legal presence in [&hellip;]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[270],"tags":[195,425],"class_list":["post-4315","post","type-post","status-publish","format-standard","hentry","category-asian-companies","tag-pakistan","tag-pakistan-2"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v24.8.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Company registration in Pakistan | Prifinance company<\/title>\n<meta name=\"description\" content=\"We offer company formation and bank account opening services in Pakistan. New registration and ready-made options. 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