Legal & Taxation
Why To Register With FBR?
- After registration, Federal Board of Revenue (FBR) put you on the list of Active Taxpayers List.
- After getting your name included in ATL, you will get the privilege of paying lower taxes than the non-filers on financial transactions including different types of bank transactions, sale/purchase of property and vehicle, etc.
Is It Required For Business?
- Yes, FBR registration is mandatory for registration of business/company.
- It is also mandatory for TDAP collaborated trade exhibitions/fairs.
- FBR registration legitimates your business and enhances credibility
- You can avail multiple FBR schemes for duty drawback if you are registered
What Should We Register ?
Register your company with Federal Board of Revenue (FBR) FOR:
- National Tax Number (NTN)
- Sales Tax Registration Number (STRN)
Commercial exporters are not required to register for STRN. But if you pay the sale tax on the goods from local market, it will be better for you to get yourself registered with sales tax department. So that, you may claim your input tax deducted on your purchases.
Once registered in sales tax department, you will be obligated to file the monthly sales tax return whether you have been involved in any sales tax activity or not
How To Register?
Apply for a National Tax Number (NTN) and Sales Tax Registration Number (STRN) at the nearby Regional Tax Office (RTO) of FBR.
Documents required to apply for NTN are:
- NTN form.
- Registration Proof.
- Memorandum and Articles of Association.
- Bank account number.
- Copies of National Identity Cards of companies’ Directors.
- Evidence of business address.
Integration with SECP:
SECP data is integrated with FBR for registration of NTN. Information provided by applicant during filling incorporation process is forwarded to FBR for registration of NTN. NTN is issued by FBR if complete/accurate information has been provided by the applicant.
Why To Register With SECP?
Securities Exchange Commission of Pakistan (SECP) is a financial regulatory body with a mandate of:
- To regulate corporate sector & capital market
- Regulation of insurance companies & non-banking finance companies
- Over signht of external service providers
Is it required for business?
- Yes, SECP registration is mandatory for registration of business/company.
- It is also mandatory for TDAP collaborated trade exhibitions/fairs.
- SECP registration legitimates your business and enhances credibility
What Are The Pre-Requisites ?
To register your company keep these points in mind:
- It can be Sole Proprietorship or a Partnership firm or a Company.
- Name and logo to be decided.
- A company account with an authorized bank.
Open an office with all required facilities:
- Valid postal address
- Landline telephone connection and fax number
- Office furniture and equipment.
How To Register?
Registration Process
Online registration process on SECP e-services web page:
- Check the availability of name on SECP website.
- Upon availability, create an account and reserve the name.
- Avoid using prohibited names for your company. Check it from SECP website’s prohibited words list.
- You will need a valid CNIC in case of Pakistani National and a valid passport if you are a foreigner.
- Select ‘fast track registration services’ (FTRS) for same-day registration.
- Fill out the online form and submit user registration.
- Validate security codes received via SMS or email to generate PIN.
- Pay the user registration fee online through your credit/debit card, or through challan in any of the selected branches of MCB or UBL.
- You will receive a confirmation email from SECP within a day.
Documents Required
Online registration process on SECP e-services web page:
- Memorandum of Association and Articles of Association
- CNIC Copies of Directors, CEO, and Nominee (for the single-member company) or copies of passport in case of a foreigner.
- NOC or letter of intent/ license from concerned authorities if you want to register some specialized business.
- In the case of foreign company incorporation, details such as List and details of Directors and their nationality, company profile, Company charter’s certified copy, Memorandum of Association and Articles of Association.
- Authorization of Subscribers for filing of documents. • Registration/ Filing fee.
Confirmation of registration:
After submission of documents:
- SECP will evaluate and validate all the submitted documents. National Institutional Facilitation Centre (NIFC) – SECP will then grant a digital signature or company seal.
- All company directors’ signatures are needed to receive this company seal. You will get a certificate of incorporation from SECP if all your documents are valid. It will be issued to you in the physical form or electronically, you can now start your business.