Brief Introduction:
A Business can be carried out in different structures like Sole proprietorship, partnership and company.
One of the very popular form of business is company. Which has its own benefits ranging;
Limited liability
Separate Legal Entity from its owners
Protection of shareholders interests
Transfer of ownership shares
Easy to raise funds
Accountability
Tax benefits
In Pakistan, Company registration is regulated by the Securities and Exchange Commission of Pakistan (SECP).
Securities and Exchange Commission of Pakistan (SECP) :
Apart from the company registration, it also provides the other related services. It mainly deals with following Registrations. It regulates the companies through the companies Act 2017.
Single Member Private Limited Company (SMC) :
It has only one member or director to control its affairs. It enjoys the benefit of Limited liability.
It has to nominate a person
It is mainly a facilitation provided to all those business which are run or governed by only one owner and wants to get the status of a company.
By registering itself as SMC Pvt Company, a sole proprietor enjoys status of corporate level.
For the registration purpose rest of the things are same as of others forms.
Private Limited Company :
A partnership is a business structure in which two or more It is a form of a company registered by SECP and needs to have minimum two and maximum 50 members. Its registration process is almost identical to the other forms of company. Which involves; Choose a unique name with respect to the relevant business category Register the name with SECP for company Registration Process Choose the Members & Directors Registering the Members/Directors with SECP Decide the Authorized and Paid up Capital Prepare the necessary documents like Memorandum & Articles of Association for submission during the registration process. Meeting any Additional requirement by SECP Removing any objection thereon
Foreign company:
Any company or body which is incorporated outside Pakistan can have its liaison or Branch office in Pakistan.
Branch Office :
Branch Office is established by a foreign company to fulfill its contractual obligations with the public or private sector in Pakistan.
A branch office is a business location that is separate from the main office or headquarters of a company. Branch offices are typically established in order to expand a companys reach and serve a specific market or geographic area
LIAISON OFFICE :
A liaison office is a type of business presence that a company establishes in a foreign country in order to represent the companys interests and facilitate communication with local business partners and customers.
NGO/NPO :
NGO stands for Non-Governmental Organization and NPO stands for Non-Profit Organization. Both types of organizations are typically private, independent groups that are not affiliated with any government. They are often involved in humanitarian, educational, or advocacy work, and they are typically funded through donations, grants, and other private sources of funding. Both NGOs and NPOs are considered to be non-profit organizations, meaning that they do not operate for the primary purpose of making a profit. Instead, they are focused on achieving specific social or environmental goals.
LLP:
Limited Liability Partnership is a new business form in Pakistan initiated by SECP (Securities Exchange Commission of Pakistan). The purpose for Starting this business structure was to minimize the gap between sole proprietorships and partnerships, which are mostly unregistered, and limited liability companies.
Others :
Other the providing the above mentioned services. It deals with Capital market, NBFCs and insurance sector.