Best guide on single-member company registration in SECP in Pakistan in 2023

Single-member company registration in SECP is not a hectic and challenging job in 2023 because SECP (securities & exchange commission of Pakistan) facilitates an online application process. The single-member company has only one owner with limited liability, while the sole proprietorship also has only one owner, but it has no limited liability.

This blog will discuss registering a single-member company in Pakistan in 2023 with pictures and descriptions. First of all, you will visit the SECP website to sign up. Please follow the below procedure for single-member company registration in SECP Pakistan in 2023. 

Sign Up FOR SECP company registration

  Please click on the SIGNUP FOR NATIONAL button to start a new user registration, as shown in the picture above. You will see a page, as shown in the image below.

Now follow the below procedure to enter the information required to register a new user for single-member company registration in SECP Pakistan in 2023.

• Enter your CNIC number without a dash (only the number)
• Enter a password having a minimum of 8 characters. These characters should have at least one number, one lowercase, one uppercase, and one special character (For example, number maybe 1,2,3, etc. Lowercase a,b,c,d,e,f, etc. Uppercase perhaps A, B, C, D, E, F, etc. Special character maybe ! @,#,$,%,%, etc.).
• Confirm password: Type your password in the password field or copy and paste it.
• Select a title for your name as per your gender (Mr for male and Mrs for female)
• Father or Spouse name: If you are a male, enter your father’s name as per CNIC, but if you are a female, enter your spouse (Husband) or father’s name as per your CNIC.  
• Date of birth: Enter your date of birth as per your CNIC.
• Current address: Enter your current address as per your CNIC
• Permanent address: Enter your Permanent address if it’s different from the current address as per CNIC. However, If your current and permanent address are the same as your CNIC, you will copy and paste your address in both fields.
•   Gender: Select your gender (Male, Female)
• Mobile number: Enter your mobile number registered on your CNIC because you will receive a verification code on that mobile number.

• Email address: Provide your email ID. You should provide your email ID to receive a password and information about your trading company registration in Pakistan in 2023.

Security question & verification

Security questions: If you forget your password, these questions will help you take back your password. Select a question from the dropdown list and write an answer below. Repeat this action for the remaining two fields. You should write these questions and answers in your notebook and save them for future use.

• Verify registration: Enter the characters as shown in the picture. These letters are not case-sensitive. (Case sensitive means you can write small letters like a, b, c, etc., or big letters like A, B, C, etc.)
• Click on the square box option, as highlighted in the picture above, to acknowledge the information given in the form.
• Click on the reset button to register your new user.

Your CNIC number without a dash is your username, and you have given your password.   

To read about types of companies in Pakistan, click on the below link.

https://businessdream.pk/types-of-companies-and-registration-process-in-pakistan/

SECP single member company registration

You have registered your user in the SECP database. You can log in to your user and register a single-member company in Pakistan in 2023. Follow the below steps for single-member company registration in SECP Pakistan in 2023.

User SECP login for company registration

• Provide your CNIC number in the highlighted field
• Provide the password to the highlighted field
• Click on the login button

After clicking the SECP login button, you will see another window, as shown in the picture below.

You will see a list of new processes. If you want to register a trading company in Pakistan in 2023, then, first of all, you will reserve your company name. However, we recommend choosing an option named “Reservation and Incorporation (Combined).” Because if you select only the name reservation option, you can only proceed with the company name reservation. However, if you choose the recommended option, you will simultaneously go for name reservation and trading company registration. Moreover, this option will reduce your company registration time.

SECP company registration proposed name

After clicking the button name reservation and incorporation combined, you will see another window, as shown in the picture.

Follow the below steps to fill out this form.

• Company kind: Choose a company (private Limited, single member Private Limited, or Public Limited.). We are filling this form as per a single member company, so you will select a single member company as shown in the picture
• Company’s proposed name option 1: Provide a name you offered for your single-member company. (You will provide three proposed names for your single-member company name to the SECP. The SECP will check the availability of the proposed name as option one, option two, and option three, respectively. If the name is available from your three options, the SECP will inform you via email and issue your company registration number. On the other hand, if the name is unavailable from your provided options, the SECP will inform you and ask you to send more options for your company name. So, Be careful to choose a proposed name for your company.
• Company’s proposed name option 2: Enter your second proposed name option in this field.
• Company’s proposed name option 3: Provide your third option for your single-member company name.
• Meaning or purpose of your proposed company name: Provides a reason that is in your mind to choose a name for your single-member company.
• Principle line of business: Select the trading option from a dropdown list because we discuss trading company registration in Pakistan in 2023.
• Clause 3: This section will automatically be filled if you proceed with a combined name reservation and incorporation.
• Identical name: If there is a similar name to your proposed company name and you are related to that company, then provide the information and the NOC from that company.

Company payment details, nominee & information

Now we will discuss the single-member company registration in SECP fee payment details, nominee information, and company address. Follow the steps below to fill in the information required for payment details and company information.

Payment details

Mode of payment: PayPal or bank. We will discuss the MCB bank payment method. Select MCB bank from the dropdown list, as shown in the picture.

• Select the MCB bank branch near your destination
• Article of association: We are discussing the Private limited company, so select the Private limited company.
• Registered or correspondence address: If you have a company address, select the option registered address, and if you have a temporary company address, choose a correspondence address.

Nominee information

You will nominate a blood relation person who will handle the company if unavailable. Follow the below steps to fill in information about the nominee.

• Nominee Name: name of your blood relation (brother, sister, mother, father, son, or daughter) as per CNIC.
• Nominee CNIC: Enter the CNIC (computerized national identity card) number without a dash (only digits).
• Residential address of nominee: you will add the full permanent address of the nominee as per CNIC.
• Nominee Telephone: Cell number of nominee
• Email ID of nominee: Enter the email ID of your nominee
• Relationship of the nominee with subscriber: Your relation with the nominee (brother, father, and so on)

Read about registration of Sole Proprietorship in Pakistan, click on below link.

https://businessdream.pk/how-to-register-a-sole-proprietorship-in-pakistan-in-2023/

Company address

Type the address as discussed here and shown in the picture company information.

• Unit: house no or factory no or plot no.
• Street: Add street no or street name.
• Area: Provide your company address locations like Quaid e Azam industrial estate, Multan industrial estate, etc.
• District: Lahore, Faisalabad, Karachi, Peshawar, Rawalpindi, etc.
• Town: johar town, Kot Lakhpat, etc.
• City: your company office city like Lahore.
• Provance: Punjab, Balochistan, Sindh, KPK, etc. 
• Postal code: postal code of your company address, like 54000
• Telephone: Your company landline number
• Fax number, Provide your company fax number if you have one.
• Email: Provide your company email ID or provide your email ID.
• Cell Phone: Provide your mobile number.

company capital structure, Directors detail

A single-member company registration in SECP has only one shareholder, and he has all the authority.

Authorized capital

Now, We will discuss the capital structure first. Follow the below steps to fill out the above-shown form.

• Click on the Add button to start filling in the capital information
• Kind of Share: Select Ordinary share
• Class of share: Select the share class from the dropdown list A, B, or C according to the rights for shares.
• Per-share value:  We usually suggest Rs 10 for a single share value.
• Authorized capital shares: Total number of shares for your company. We recommend that you enter a minimum of 10000 shares for your company.
• Authorized capital: per-share value X authorized capital share (10×10000=100,000). In this example, your company’s worth is one lac. These authorized capital shares are those your company can offer maximum for sale to anyone.
• Paid-up capital is the capital your company’s shareholders will deposit in their bank account according to their share values to start your company.

Director details

Now we will discuss the subscribers who will run the company. In this section, we define the role of a person in the company. Follow the following steps to fill this section.

1. Name and surname: Full name of the director & subscriber as per CNIC
2. Designation: There are different options for a shareholder. Depending on the role of the shareholder, we select the option. For example, Director, Chief executive officer (CEO), Secretary, or Director & CEO.
3. Nature of directorship: Select the appropriate option. (Owner, appointed by the owner or subscriber)
4. Nominating the director: If you are a director, you will appoint a blood relation person for a nominee who will perform as a director if you are unavailable.
5. Nationality: Enter your nationality (Pakistani)
6. CNIC: Enter your CNIC number in this field
7. Relation: relation with a nominee

You will add a minimum of one director and one CEO to register a trading company in Pakistan in 2023. Repeat these steps to enter another director or CEO.

Applicant detail

In this section, you will enter the information about the applicant. If you are applying, then who are you? Whether you register your own company or apply for a company on behalf of someone else.

1. Authorized intermediary: If you are applying on behalf of someone and they authorized you to fill this form.
2. Proposed subscriber: Select this option if this is your company.
3. Name: Applicant name
4. CNIC or Passport: CNIC or passport number of the applicant
5. Registration number: SECP will provide your registration number after the company registration process completion. At this stage, you will leave this field empty.
6.  Email id: Provide your email ID so that SECP will contact you via email for information.
7. City: Applicant’s current city
8. Telephone: Applicant’s phone number (Landline or mobile number)
9. Applicant Address: Provide the full address of the applicant.

After filling out the form, check the box highlighted in the picture and click continue. If you want only to save this information, then click on load save data.

The form for single-member company registration in SECP is now filled. You will see another window with information on different documents required to submit this form to register a single0member trading company in Pakistan in 2023.

Company document list

This section will discuss the documents required to register a single-member company in SECP Pakistan in 2023.

You will see the list of the documents you have filled and need to be filled. Attach all required documents like CNIC and other documents.

After submitting all the required documents, click on the sign forms, provide an electronic sign, and finish the single-member company registration in Pakistan in 2023.

For online SECP company registration process, Open below link.

https://eservices.secp.gov.pk/eServices/