Single Member Company Registration With SECP: An individual who needs to register a corporate entity with a single owner or director apart from a business entity like a sole proprietor, must have to register it with the Securities Exchange of Pakistan SECP. SMC is a corporate entity regulated by SECP, and needs to fulfill the compliance requirement. The status of SMC is more authentic than Sole Proprietor as it is regulated and follows the Company Act, Regulations, Rules etc.
How to Register a Single Member Company Registration with SECP
To register a single-member company with the Securities and Exchange Commission of Pakistan (SECP), you can follow these steps:
Company Name Reservation:
- Choose a unique name for your company and submit an online application for name reservation through the SECP E- Services portal. The name should comply with the guidelines provided by the SECP.
Preparation of Incorporation Documents:
- Prepare the necessary incorporation documents, including the Memorandum of Association (MoA) and Articles of Association (AoA). These documents outline the company's objectives, shareholding structure, and internal governance rules.
Online Company Registration:
- Complete the online registration process on the SECP eServices portal. Submit the required documents, including the MoA, AoA, DSC, and other relevant information as per the SECP's guidelines. •
Payment of Fees:
- Pay the applicable registration fees online through the SECP portal. The fee structure varies based on the authorized share capital of the company. •
Verification and Approval:
- The SECP will review your application and supporting documents. Upon successful verification and approval, the SECP will issue a Certificate of Incorporation, indicating the company's registration number.
NTN Registration:
- You will also need to register for a National Tax Number (NTN) for your company through the FBR portal.
Post-Registration Compliance:
- After registration, fulfill the post-registration compliance requirements, such as opening a company bank account, obtaining relevant licenses and permits, and ensuring compliance with tax obligations, including filing annual returns and financial statements.
