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Before applying Name Availability Process or a name reservation, please check that your preferred Company name does not contain any forbidden words.

First Step to Apply Company Registration:

For applying the Name Availability Process the Company provides a wide range of legal services. Moreover, the Company range is from corporate and commercial consulting on transactional issues to dispute resolution and international arbitration. Over the years continue to support public sector organizations, official bodies, diplomatic missions, sovereign states, regulators, regional and international companies, banks and financial institutions, as well as high net worth individuals and other public companies.

The first step in registering a Company is to reserve the proposed name. It is necessary to apply Name Availability Process Under Section 37 of the Companies Ordinance 1984. The Name Availability Process applies to the Security and Exchange Commission of Pakistan. Only a reserved Company name allows the owner to proceed with further Company registration processes. It strongly recommends the applicant select at least four or five names applying the Name Availability Process in the SECP.

How to apply Name Availability Process from SECP?

  • First of all, an account creates by the applicant or an authorized law Company or attorney of the applicant (s). After creating an account successfully E-Services will open. After that, the list of processes, as the name implies, is an area having different kinds of available and unavailable processes. Initially, only the Company Name Availability Process is available to the client.
  • Further, the proposed name for the registered Company enters this field without reference to the type of Company (Pvt. Ltd, Ltd., etc.). After entering the name, the Search by Name Availability appears to know the desired name is available for reservation or not.
  • The types of companies differ depending on their role in the corporate sector, and each type/kind attaches to itself different requirements. It must fulfill for further registration with the SECP.
  • In addition, these requirements relate to the composition of the board of directors/members, the organizational structure, and the services that the Company will provide. The drop-down list holds the Company name. Different types of the Company selected the desired name of their Company and hold in the drop-down list.
  • Regarding pay, a fee for reserving the name of the Company the applicant or his attorney can choose designated bank branches in the main cities of Pakistan. These bank branches aim to collect mandatory fees against various procedures in accordance with Company regulations. Fees paid through Challan to the specified bank branch and sent to the selected CRO.

Startup Company Registration types are as follows:

  1. Sole proprietorship;

  2. Partnership/ AOP;

  3. Limited Liability Partnership;

  4. Single Member Company (SMC);

  5. Private Ltd;

  6. Public Limited;

  7. Non-Profit Organization;

What is Sole Proprietorship?

In this type, you and your Company are legally the same. For example, if a person Anas Lal Dewan has registered a Company called ” E-Commerce”,  then Anas Lal Dewan and ” E-Commerce” are one entity and both have the same NTN. Their bank accounts are different, but they share the same responsibilities. Registering as a sole proprietor, accessing the FBR website, and registering your NTN Company name is easy and this procedure will take only 24 hours.

What is Partnership/AOP?

A partnership is created when two or more people form a team and decide to start a business or venture by offering assets in the form of investment. These people are called partners, and companies are collectively called partners.

Partnership companies can register through submitting an application on the prescribed Form No.1 along with the form, you will also need to send the required fees and a true copy of the partnership certificate to your registrar. Such an application submits to the corporate registration office in the area where the place of business is located.

What is Limited Liability Partnership:

This type of Company means a partnership (LLP) in which all limited liability companies are involved in starting a business. Thus, it shows not only the enterprise but also the elements of the partnership. All partners are responsible for their actions. A preliminary partnership is a Company formed by two or more partners for the purpose of generating profits and mutual benefit for the partners. In this type of Company, one of our partners has unlimited debt. By default, the lender can also receive your personal property.

What is a Single Member Company:

SMC stands for Single Member Company. This type of Company is a limited liability Company, but you are the only Company. Single Member Company or “SMC” means a privately held Company with only one member/director and the privilege of limited liability. All provisions of the Companies Ordinance 1984 that apply to private limited liability shares, with some modifications, apply to a single-member Company.

What is a Private Limited Company?

A private limited Company is a private Company for small businesses. The liability of members of a private limited Company is limited to the number of shares they hold. Private limited Company shares may not be publicly traded.

Difference between limited and Private Limited?

Limited means a Public Limited Company and Private Limited is a private Company. A Company is called a private limited liability Company if all of its shares are in private hands. On the other hand, the minimum number of shareholders in a public limited liability Company is seven, and there is no limit to the maximum number of shareholders.

What is a Public Limited Company?

Since Public Co., Ltd. is a voluntary organization of incorporated members, it has an independent corporation and the responsibilities of its members are limited. A public limited Company is listed on the stock exchange where its shares/shares are listed.

This has nothing to do with startups. To register as a public limited Company, you must become very large and listed on the stock exchange. Hence, if you have a project worth 1 billion rupees or more and need a huge investment in it, you will need a public limited Company, so you will be a public limited Company.

What is a Non-Profit Organization?

Nonprofit organizations are types of organizations that do not generate profits for their owners. In a non-profit organization, income is not distributed among the members, directors, or officers of the group. There are also non-profit corporations known as unincorporated corporations.

Non-governmental organizations serve humanity by providing free and affordable hospitals for those most in need. Nonprofits in Pakistan are trying to provide free or affordable educational facilities for the less fortunate through free schools and colleges.

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