Company Name Registration or Company Name Reservation is the first step towards registration of company in Pakistan.
For this reason the promoter or the person initiating the process of company registration in Pakistan has to apply for the availability of name for company under Section 37 of the companies’ ordinance, 1984 of Pakistan.
Before making an application for company registration name reservation it is always advisable to check online from Securities and Exchange commission of Pakistan website whether the name is available for the new company or not.
There are certain things that always should be kept in mind before applying of name reservation for the company to be registered in Pakistan.
Things to Consider Before Applying for Company Name Registration in Pakistan:
- The name applied should not have close resemblance to name an existing company already registered in Pakistan.
- The name should not contain inappropriate words.
- The name of the company should not be deceptive.
- The name of the company should not be designed to exploit or offend religious susceptibilities of the people
- Commissioner has the power to reject the applied name for any reason he thinks as appropriate.
The current database of Securities and Exchange Commission of Pakistan has more than 60,000.00 filings of existing company names. Furthermore the Securities and Exchange Commission of Pakistan also has list of prohibited words that cannot be added to the company to be registered in Pakistan.
Based on our experience we suggest to follow these steps to reduce chances of name rejection.
- Select a name that is unique. You can visit SECP website and search for the proposed name to ensure that it is not resembling with any company already registered.
- Always Finalize these names in priority so that in case any name is rejected Commission can approve the next in the list.
- Do not include the name of Countries, Cities, Personalities and religious words etc.
- Always select name that reflect activity that proposed company will undertake. For example XYZ Sports Equipment Trading, ABC Financial Consulting Services etc.
Procedure for Applying for Company Name Registration in Pakistan:
There are commonly two methods for making an application for the company registration in Pakistan.
The first method is online application and second method is offline. Furthermore in case of urgent requirement application can be made through Fast Track whereby you can receive the confirmation within 4 hours of making the application.
When making offline application, the application is addressed to Additional, Deputy or Assistant Registrar of companies for confirmation of the company name to be registered in Pakistan. Securities and Exchange Commission of Pakistan has prescribed MCB and UBL as the banks for submission of challans for company registration in Pakistan.
For making online application you have to create a login name and password at Securities and Exchange Commission of Pakistan website and thereafter a form is required to be filled with required information. At the end of the process a challan is generated that needs to be submitted to prescribed bank for further processing of company registration in Pakistan.
Once the name if confirmed the requester can proceed with the next step of company registration in Pakistan that includes preparing of Memorandum and Articles of Association of the company.
If you require any further information with reference to name reservation process of company registration in Pakistan you can visit our contact us page.