Why Incorporate Through SECP and What “Company” Means
When you incorporate with SECP, your business becomes a legal “company” under the Companies Act, 2017. That gives you benefits such as limited liability, separate legal identity, ability to raise capital, easier access to bank accounts, credibility with clients/investors, and easier compliance with regulatory/tax frameworks.
Under SECP, you can form:
- A private company (with two or more persons)
- A “single-member private company” (if only one person)
- A public company (if three or more persons)
Thus whether you want a small single-owner startup or a larger venture with multiple shareholders, SECP incorporation works.
Step-by-Step: How to Incorporate a Company via SECP
1. Decide Company Type & Prepare Basic Info
Before you begin, decide the structure private, public, or single-member private company based on number of promoters/shareholders and how you want to operates
Also identify who will be the directors/subscribers, the registered office address, authorised share capital (if any), and other basic details.
2. Name Reservation
- First you need to propose a company name. SECP allows you to submit up to three proposed names, in order of preference.
- Use the SECP name-search tool to check whether the name is available, unique (not identical or too similar to existing companies), and doesn’t contain disallowed/misleading/offensive words.
- You can apply for name reservation either online via SECP’s e-Services portal or offline (physical application at Registrar office)
- Once name is reserved, you can proceed to incorporation. Often you can combine name reservation and incorporation in a single application.
3. Register on SECP e-Services Portal (if going online)
- Go to SECP’s e-Services portal (eservices.secp.gov.pk) and sign up: provide your CNIC / passport / NICOP / POC, email, mobile number, etc.
- Every proposed subscriber / director should have a separate user account.
- After login, you can choose “Company registration / incorporation” process from the dashboard.
4. Prepare Incorporation Documents
You’ll need to draft/collect the following:
- Memorandum of Association (MOA): defines the objectives, scope and nature of business.
- Articles of Association (AOA): outlines governance, management structure, internal rules etc.
- Declaration of compliance or other statutory forms (depending on company type).
- Copies of CNIC / passport (or other valid ID) of all subscribers/directors.
- Proof of registered office address (e.g. utility bill, lease agreement, address verification).
- Bank deposit certificate or proof for paid-up capital (if required) / initial capital info.
If you are a foreign subscriber / director / shareholder, additional requirements apply (e.g. undertaking for compliance & return filings).
5. Submit Incorporation Application Online or Offline
Online method (via e-Services):
- After login, choose company incorporation process. Fill in detail: company name, type, selected bank branch for payment, mode of payment.
- Add “Declarant” a person authorized to represent the company in the application (could be a director or employee).
- Enter details of directors / subscribers, company information (registered office, business classification, share capital, etc.)
- Upload attachments: MOA, AOA, ID copies, name reservation approval, any other required docs. Attachment file-size limits may apply (e.g. usually < 2 MB each).
- Generate bank challan automatically via portal, or choose online payment (credit/debit card, Internet Banking, 1Link banking, etc).
- Sign the form using your SECP e-Services PIN. Important: each subscriber/director must sign individually with their credentials & PIN.
- Submit the application. You’ll receive a reference number keep it for tracking. Then print the challan and pay at designated bank (or proceed with online payment).
Offline (physical) method:
- Generate “M-Challan” from SECP website for fee payment.
- Deposit fee at designated bank (like MCB or UBL) in appropriate branch.
- Submit physical application along with MOA, AOA, forms, documents & original challan copies to the relevant Registrar of Companies (CRO).
Note: While offline is still allowed, online is now standard especially for faster processing
6. Pay Fees & Wait for SECP Review
- Fee depends on authorised capital and type of company. For small companies (e.g. capital up to PKR 100,000) fees are relatively low, but they increase with capital
- If you need urgent processing, you can apply through Fast Track Registration Services (FTRS) SECP sometimes completes incorporation within 4 hours.
- For regular applications, once documents/payment are verified, SECP reviews them for compliance with the law — this can take a few days (depending on load, complexity, completeness).
- If there are objections or missing info, you’ll get a notice; you should respond promptly to avoid delays.
7. Certificate of Incorporation & Legal Recognition
If everything is approved, SECP will issue the official Certificate of Incorporation. This certificate confirms that your company is now legally a registered company under Pakistani law.
You (and other directors/subscribers) will also receive copies of MOA, AOA and other incorporation documents, often via your e-Services account or via email.
Once you have this certificate, your company can start operating legally: sign contracts, open a corporate bank account, apply for licences, etc.
Post-Incorporation: What to Do After Registration
After your company is incorporated, you must take additional steps to become fully operational and compliant:
- Register with Federal Board of Revenue (FBR) to obtain a National Tax Number (NTN). This is essential for tax compliance, issuing invoices, and legal business operations.
- Open a corporate bank account. Banks typically require Certificate of Incorporation, CNICs of directors, address proof, sometimes a board resolution.
- If your business requires sales tax registration (e.g. for goods or taxable services), register accordingly with relevant tax authority.
- Maintain corporate compliance: depending on company size, you may need to file annual returns, appoint auditors (if paid-up capital or other thresholds trigger audit requirement), maintain records, and comply with company law.
These post-incorporation steps are important to avoid legal/tax problems, and to enable smooth business operations.