The procedure will enable speedy company registration in four working hours through e-services
Securities and Exchange Commission of Pakistan (SECP) has launched single online procedure for swift company registration for ease of doing business in the country.
In a press release the SECP said that “in continuation of its reforms to provide ease of doing business, it had combined the procedures of reserving the name of the proposed company and applying for its incorporation”.
The statement added that the major amendment in the procedure will enable speedy company registration in “four working hours” through e-services SECP has already issued the statutory regulatory order (SRO) to amend the incorporation procedures.
The promoters of an organization would simply require filing a blended software that includes 3 choices of brand name for proposed corporate and incorporation software with style memorandum of affiliation and articles of affiliation
In present fiscal 12 months, the SECP has already merged the process to inform the appointment of CEO in corporate incorporation.
The present identifies reservation and corporate registration price for unmarried member corporate with a paid-up capital up to Rs 100,000 is Rs 1,550 underneath on-line mode and Rs 3,000 underneath offline mode.
This facility will be a great incentive for potential promoters of companies and is likely to further propel corporate growth.
The salient reform measures which are being taken to further ease doing business environment in the country include the revamping of e-Services and integration of corporate registry with the provincial authorities, etc.
These reforms have led to further reduction in the number of procedures, the time required to start a company and cost of starting a business.
Earlier SECP had taken a number of steps such as placement of model memorandum and articles of association on its website, online filing facility (e-services), online company name search facility, online company profile search, fast track registration services, guidebooks to name a few.
