Registration of a Company in Pakistan
Pakistan is 26th largest economy in the world with a population of more then 200 Millions. In recent years, thousands of students graduated from the universities of Pakistan and many started their own startups across the country, Startup Industry is Advancing rapidly. Owing to Government initiates and awareness around technology and entrepreneurship, several universities have incubators and entrepreneurial societies to inculate the spirit of learning in young students. The result? We now have several hundred startups who work to improve the life of people around the world, make profitable business ventures, and increase job creation.
Startup/Company Registration in Pakistan
Every business required registration to operate its activities in the country; likewise startup/companies also required registration before going to start their operations in Pakistan. Almost, every startup is calculating the net worth of business after investing in it which can only be determine through different parameters but in legal terms it only worth when its registered.
Hamza & Hamza Law Associates who is working since long times to assist people in registration process which is die-hard and hectic but through us as we own expertise in this can save your time, energy and money. And you will be able to concentrate your full focus in your business promotion and operations.
What are different ways to establish business in Pakistan?
There are several ways by which a person can establish a business in Pakistan. Different forms of business establishments include Sole Proprietorship, Partnership Firm, Joint Ventures/ Collaborations, Association of Persons, Company etc. However, the most common business establishments in Pakistan are as follow:
- Sole Proprietorship
- Partnership Firm
- Private Limited Company Sole Proprietorship also known as Proprietor Concern can be opted where there is only one owner to manage and control business. Sole Proprietorship is one of the most convenient Business structure in Pakistan. There is no difference between business and the owner business.Please Click on the link for the complete Procedure of Registration of of Sole Proprietorship Business HOW TO REGISTER A SOLE PROPRIETORSHIP IN PAKISTAN? Partnership Firm is formed under Partnership Act, 1932 in Lahore under which two or more partners join hand to work together for a similar cause only to share profit and loss. Profit and loss are divided based on a terms and conditions of partnership which are executed by writing between 2 or more partners. Thus business and disputes emanating among partners are dealt according to Partnership Deed. Most of the time, stereo drafts are used to formulate Partnership which later cause hardship. It is therefore, strongly advised to consult a professional lawyer who will understand your needs and requirements and draft a Partnership deed accordingly to ensure maximum protection to you in business in case of dispute surfacing between partners anytime in future.Please Click on the link for the Complete procedure of Partnership Firm Registration HOW TO REGISTER A PARTNERSHIP FIRM IN PAKISTAN ? Private Limited Company is a business structure that can be opted in case there are 2 or more directors or shareholders to run a business. There can be as many as 50 directors or shareholders of company. Private Limited Company cannot trade its shares publicly. This structure is not just considered the most organized and secure but also that in case of dispute, directors or shareholders are only liable to extent of their shares in company. This mean their personal assets are secure and cannot be attached for the purpose to liquidate a liability in the Court of law. Company is registered with Security Commission of Pakistan in terms of Companies Act, 2017.Please Click on the link for the Complete procedure of Private Limited Company Registration in Pakistan HOW TO REGISTER A PRIVATE LIMITED COMPANY IN PAKISTAN ?
Which is the most beneficial type of business Establishment?
The decision to choose the beneficial type of establishment is completely based on the particular nature of business as every sector has its own benefits and drawbacks. While choosing the right type of establishment for any business sector, some major factor that need to be considered including Tax benefits and exemptions on a particular sector, loan finance requirements, legal benefits and impediments, scope and object of business, flexibility of operations and other underlying factors.
We also assist our clients in trademark registration in Pakistan, as it’s play very vital to secure your brand from stealing by someone else. Therefore, every startup should register trademark as well before starting operation. There are many incubators open in almost every big cities of Pakistan. At where new startups are being facilitate in much more professional way and they don’t need to open office separately.
At Hamza and Hamza Law Associates we have profound experience of assisting in process of company Registration in Pakistan. In case if you have any queries feel free to contact us.