Incorporation of a Company in SECP

Starting a company or company incorporation is very simple now, you can incorporate your company with Securities and Exchange Commission of Pakistan (SECP) by following simple steps.

First step is to get your personal User Registration on the SECP’s website, during this process user activation codes will be sent on your given email address and cell phone number. Once you successfully activate your user, log on SECP’s e-Services portal apply for Company Name Reservation of your proposed company name, pay the application fee through online banking channel or through conventional bank challan. Alternately you can also apply company name reservation by submitting written application on prescribed form along with original paid bank challan of application fee.

You will get response of your application from SECP within three working days normally. Three names are to be proposed in order of priority in name reservation application and if your first proposed name is not found contradictory with Section 10 of the Companies Act, 2017 and Regulation 4 of Companies (Incorporation) Regulations, 2017 then Registrar will reserve the proposed company name for you for a period of sixty (60) days, otherwise Registrar will consider your second proposed name and will apply same test then consider your third proposed name.

Once you reserve your desired company name, you have to start company incorporation process before the expiry of sixty (60) days period. For completion of company incorporation process you must have following documents in scanned form for filing company incorporation electronically:

1: CNIC/NICOP copies of the subscribers/directors/chief executive
2: Passport Copy in case of Foreigner as subscribers/directors/chief executive
3: CNIC/NICOP copy of the nominee in case of Single Member Company Memorandum and Articles of Association (samples are available on SECP’s website)
4: NOC/Letter of Intent/ License from relevant regulatory authority in case of specialized business In case the subscriber is a foreign company, the profile of the company, detail of its directors, their nationality and country of origin, certified copy of it charter, statute or memorandum and articles etc.

Pay the incorporation fee through online banking channel or through conventional bank challan. You will receive company incorporation process completion intimation through email on email address provided during incorporation (normally after 3 to 5 days of paying incorporation fee). After company incorporation email you can collect your company incorporation certificate along with certified true copies of Memorandum and Articles of Association from your relevant CRO (Companies Registration Office) of SECP. If you not collect certificate of incorporation along with certified true copies from relevant CRO, then the same are sent to registered office of the company after 5 working days from incorporation.

At this stage company needs to open its Bank account in any schedule commercial bank and the shareholders required to deposit their paid-up share capital amount in the company bank account. A private limited company as well as a single member company can start its operations upon receiving its incorporation certificate and can make agreements on its name with any third party while a public limited company needs to comply with certain conditions as specified in Section 19 of the Companies Act, 2017 before preforming any commercial activity.