Now say goodbye to the lengthy and time-consuming procedure of applying for incorporation of a company and reserving its name as Securities and Exchange Commission of Pakistan (SECP) introduces a major amendment where you can register a company in Pakistan within four working hours.
SECP has combined the two processes of reserving a name for a proposed company and applying for its registration instead using eServices, the company’s owner can be done with a whole thing in a matter of four hours.
Thanks to the amendments in the SECP’s policies, the promoters of a company are only required to submit a combined application that should contain three options of the name for the proposed company and incorporation application with the model memorandum of association and articles of association.
Additionally, the fee to register a company in Pakistan has also been reduced owing to the union of different regulatory forms. Now, for single-member companies with a paid-up capital of up to Rs100,000, Pakistanis will only need to pay Rs. 1550 instead of Rs. 2300 for online mode and Rs. 3000 instead of Rs. 4500 for offline mode
The new reforms by the authority will help people by providing them ease of opening and doing a business in the country.