Registration of Business in Pakistan
Asalam U Alikum! Today topic is about how to register your business in Pakistan. The most of the people in Pakistan are doing business and do not know how to got register. Now a days Government of Pakistan has established online process of registration of a Business with easy to understand form. After filling of the form online you can register your business easily. The website to do the tasks is https://register.business.punjab.gov.pk. But there are some tasks you have to do and many documents you have to manage before submitting the same form. The tasks and documents are describe as under:-
1. You should draft a partnership deed on Stamp paper valued Rs. 1000/- PKR. This partnership deed will have minimum of two partners. The deed will be fully describe about the nature, address, nature of work or responsibilities this business will perform. The deed will have full detail of contribution, loss and profit percentage between partners and which partner perform which task should be specifically mentioned.This deed will also be attested by Notary Public agent.
2. The second thing you want is FORM-1 which can be downloaded by the website provided above. Which should also be fully filled with required information as date of joining of the business, name, email and phone numbers of the partners and what will be the duration of the business. This form should also be attested by Notary Public agent.
3. The third thing which is required is that you have to pay sum of RS. 100/PKR in shape of filling fee of the business on 32-A challan. The same Challan can be downloaded by the website or the same amount can be paid through modern money transactions apps Like Jazzcash, easypaisa etc through PSID which will automatically generated while filling of the form.
4. The documents required to do all the tasks described above are copy of CNIC of all the partners, Copy of CNIC of two witness and all of them should be attest by Notary Public agent.
After collection of all the documents and submission of all the forms provided on website, they will issue a certificate of registration in shape of Form-C which can be downloadable from the website. After that you have to gather all the attested documents and their photocopy and the Form-C, you should visit the office situated In Pounch House Chuburji, Lahore to collect the originally signed Form-C and your business registration is completed.
Note: This process is only for registration of your business which is also called as Firm. The registration process of company(any type) is different and the different department deals with the same.
The last question is what will be benefit of registration of the business and the answer is that the Form-C is like a identity card of your business, after registration your business will have legal value, you can sue through your business, buy a car on the name of the business, you can do any contract on behalf of your business, you can get NTN of your business. You can open Bank account on the name of the Firm which is not possible before the proper registration. In simple wording you have created a new person with all legal values, responsibilities and rights.
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