Registration can either be completed online or in person at SECP. The following documents are required for submission:
a. Form 1: Declaration of compliance
b. Form 21: Identification of the location of the office
c. Form 29: Particulars of directors, secretary, chief accountant, auditors, and others
d. One copy of the Memorandum and Articles of Associations with the signature of each member (in presence of a witness)
The fees for incorporation of a company was updated on May 24, 2016 according to the S.R.O 448. The fees depend on the authorized capital as:
– Online submission: PKR 1,000 for registration of a company whose nominal share capital does not exceed PKR 100,000 and an additional fee of PKR 500 for every PKR 100,000 of nominal share capital or part thereof, up to PKR 10,000,000. The online filing fee is PKR 400 per document.
A confirmation of the online or physical submission is received instantly, and the actual certificate a few days later via email or courier. The entrepreneur can register with any Company Registration Office, irrespective of the jurisdiction. All regional SECP offices are computerized. In February 2012, SECP launched the Fast Track Registration Services (FTRS), under which the incorporation of a company can take place within 4 hours for an expedited fee of PKR 20,000 for on-site incorporation and PKR 10,000 for online incorporation payable in addition to the normal fees above. To register a company online, the entrepreneur must first obtain a digital signature through the National Institutional Facilitation Technologies (NIFT) system. If the application is received with less than four hours remaining in the working day, the same shall be disposed of in the next working day.
