How to Register a Company or Sole Proprietorship with SECP & FBR in Pakistan (Step-by-Step)
The complete founder's roadmap: Sole Proprietorship vs Private Limited (Pvt Ltd), SECP eZfile online incorporation, NTN generation on FBR Iris, and opening a corporate bank account.
Executive Summary
Starting a legitimate business in Pakistan requires navigating the Securities and Exchange Commission of Pakistan (SECP) and the Federal Board of Revenue (FBR). Whether you are an IT exporter, e-commerce entrepreneur, or retail business, this guide breaks down the legal distinctions between Sole Proprietorships and Private Limited companies, step-by-step online filing on SECP eZfile, NTN issuance, and corporate bank account opening.
How to Incorporate a Private Limited Company with SECP Online
Official procedure to register a Pvt Ltd company in Pakistan using the SECP eZfile digital portal.
Choosing the Right Business Structure in Pakistan
When launching a commercial venture in Pakistan, founders face a foundational decision: Sole Proprietorship, Partnership (AOP), or Private Limited Company (Pvt Ltd).
Step-by-Step SECP Company Registration via eZfile
The Securities and Exchange Commission of Pakistan (SECP) has digitized the incorporation process via the eZfile Portal (ezfile.secp.gov.pk).
Step 1: User Registration & Digital Signature
- Create individual accounts for each proposed director on the SECP eZfile portal using CNIC and registered mobile numbers.
- Complete biometric / OTP verification to establish digital signing authority.
Step 2: Name Reservation
- Propose three alternative names in order of preference.
- Ensure the name includes the mandatory suffix
"(Private) Limited". - Avoid prohibited words (e.g. "Federal", "State", "National", "Bank") unless regulatory approval is obtained.
- Pay the nominal name reservation fee (approx. Rs. 200).
Step 3: Drafting MoA and AoA
- Memorandum of Association (MoA): Defines the company's principal line of business and operational objectives.
- Articles of Association (AoA): Details internal governance rules, director voting powers, and share transfer protocols.
Step 4: Submission of Incorporation Forms
Submit statutory forms online, including:
- Form II: Combined statutory declaration for company incorporation.
- Proof of registered office address.
- CNIC copies of all directors and company secretary.
- Pay the incorporation fee (calculated based on authorized capital, typically ~Rs. 2,500 to Rs. 4,000 for standard startups).
Post-Incorporation: FBR NTN & Corporate Banking
Once SECP issues the Digital Certificate of Incorporation:
- FBR Corporate NTN: The National Tax Number is automatically generated in coordination with SECP, or can be claimed on the FBR Iris portal.
- Sales Tax Registration (STRN): If providing taxable goods or services, register for Sales Tax with provincial revenue authorities (PRA, SRB, KPRA, BRA) or FBR.
- Opening the Bank Account: Submit the certified Incorporation Certificate, MoA, AoA, Form 29, and Board Resolution to your chosen bank (e.g., Meezan, HBL, Bank Alfalah).
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Key Questions Answered
Q1.What is the difference between a Sole Proprietorship and a Private Limited Company in Pakistan?
A Sole Proprietorship is not a separate legal entity; the owner carries unlimited personal liability for business debts, and it is registered directly with FBR via personal NTN. A Private Limited (Pvt Ltd) company is a separate corporate entity registered with SECP offering limited liability protection, enhanced credibility for global clients, and perpetual succession.
Q2.What is the minimum capital required to register a Pvt Ltd company in Pakistan?
Under the Companies Act 2017, there is no mandatory minimum authorized or paid-up capital for a standard Private Limited company. Most startups incorporate with an authorized capital of 100,000 PKR divided into 10,000 shares of 10 PKR each.
Q3.How long does SECP company registration take online?
Through the SECP eZfile digital portal, name reservation typically takes 1 to 2 business days, and full incorporation takes 3 to 5 business days, provided all shareholder CNIC details and statutory documents are in order.
Q4.Can Zehan draft my Memorandum and Articles of Association?
Yes. On Zehan, you can prompt: '/legal Draft the Memorandum of Association for an IT software export and SaaS startup registering with SECP under Companies Act 2017 with 3 founding directors.'
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