In Pakistan, verifying whether a company name is already registered is a crucial step before proceeding with the incorporation process. This ensures that the name you wish to use for your business is unique and complies with the legal requirements set by the Securities and Exchange Commission of Pakistan (SECP).
In this blog pst guide, we will walk you through the steps to check if a company name is registered in Pakistan, the importance of this process, and the subsequent steps to reserve and register your company name.
Understanding the Importance of Company Name Registration
Before diving into the steps, it’s essential to understand why checking the availability of a company name is crucial:
- Legal Compliance: Ensures that the proposed name does not infringe on existing trademarks or company names.
- Brand Identity: Helps in establishing a unique identity for your business.
- Avoiding Legal Issues: Prevents potential legal disputes with existing companies.
Steps to Check if a Company Name is Registered
1. Visit the SECP eServices Portal
The SECP provides an online portal called eServices, where you can check the availability of a company name. Here’s how to use it:
- Access the Portal: Go to the SECP eServices portal (eservices.secp.gov.pk).
- Login or Register: If you are a new user, you will need to create an account. Existing users can log in with their credentials.
2. Navigate to the Name Search Section
Once logged in, follow these steps:
- Select Name Search: Find the “Name Search” option on the homepage or under the company registration section.
- Enter Proposed Name: Input the desired company name without any suffixes like Pvt. Ltd. or Ltd.
- Search Criteria: You can choose to search for an exact name, names beginning with the entered string, or names including the exact string.
3. Review Search Results
The system will display the results based on your search criteria:
- No Results Found: If no existing company matches the name, it is available for registration.
- Similar Names Found: If there are similar or identical names, you will need to choose a different name.
Reserving a Company Name
Once you have confirmed that your desired company name is available, the next step is to reserve it. Here’s how:
1. Submit a Name Reservation Application
- Log in to eServices: Use your SECP eServices account.
- Fill Out the Form: Complete the name reservation form by providing necessary details like the proposed name, type of company, and applicant information.
- Pay the Fee: A nominal fee is required for name reservation. This can be paid online through various payment methods.
2. Await Approval
The SECP will review your application and either approve or reject the proposed name based on its compliance with the Companies Act, 2017. This process typically takes a few days.
Registering Your Company Name
After reserving your company name, you can proceed with the incorporation process. Here are the steps:
1. Prepare Required Documents
You will need to gather and prepare several documents, including:
- Memorandum of Association: Outlines the company’s objectives and structure.
- Articles of Association: Defines the company’s internal regulations.
- Copies of CNICs: For all founding members.
- Proof of Registered Office Address: Evidence of the company’s physical address.
- Bank Statement: To verify the paid-up capital.
2. Submit Incorporation Application
- Log in to eServices: Use your SECP account to access the incorporation application.
- Complete the Form: Fill out the incorporation form with all necessary details.
- Attach Documents: Upload the required documents in PDF format.
- Sign the Form: Use your digital signature to sign the application.
3. Pay the Incorporation Fee
The fee for registering a company varies based on the type of company and the method of application (online or offline). Online applications generally have lower fees.
4. Obtain Certificate of Incorporation
Once the SECP approves your application, you will receive a Certificate of Incorporation. This certificate is proof that your company is legally registered and can commence business operations.
Additional Considerations
1. Compliance with Legal Requirements
Ensure that your proposed company name complies with the following conditions as per Section 10 of the Companies Act, 2017:
- Uniqueness: The name should not be identical or similar to any existing company or LLP.
- Non-Deceptive: The name should not be misleading or inappropriate.
- Non-Offensive: The name should not contain any offensive words or exploit religious susceptibilities.
2. Business Register
The Pakistan Bureau of Statistics maintains a Business Register, a comprehensive database of all active business entities in the country. This can be a useful resource for verifying the existence of a business.
Conclusion
Checking the availability and registering a company name in Pakistan is a systematic process that ensures your business operates legally and has a unique identity. By following the steps outlined in this guide, you can efficiently navigate the SECP’s eServices portal, reserve your desired company name, and complete the incorporation process.
This foundational step sets the stage for your business’s success and compliance with Pakistani corporate laws.For further details, always refer to the official SECP guidelines and consult with legal experts if necessary.
FAQs:
1. How can I check if a company name is already registered in Pakistan?
To check if a company name is registered in Pakistan, you need to use the SECP eServices portal. Here are the steps:
- Visit the SECP eServices portal.
- Log in or create an account if you don’t have one.
- Navigate to the “Name Search” section.
- Enter the desired company name and select the search criteria (exact name, names beginning with, or names including the exact string).
- Review the search results to see if the name is available or already taken.
2. What are the requirements for reserving a company name in Pakistan?
To reserve a company name in Pakistan, you need to:
- Log in to the SECP eServices portal.
- Complete the name reservation form by providing the proposed name, type of company, and applicant information.
- Pay the name reservation fee online.
- Await the SECP’s approval, which typically takes a few days.
3. What should I do if my proposed company name is already taken?
If your proposed company name is already taken, you should:
- Choose an alternative name and repeat the name search process on the SECP eServices portal.
- Consider slight variations or entirely different names to ensure uniqueness.
- Ensure that the new name complies with SECP guidelines and does not infringe on existing trademarks or company names.
4. What documents are required for company registration after reserving a name?
After reserving a company name, you need the following documents for registration:
- Memorandum of Association
- Articles of Association
- Copies of CNICs for all founding members
- Proof of registered office address
- Bank statement to verify paid-up capital
- Any other documents specified by the SECP for the type of company you are registering.
5. How long is a reserved company name valid, and what happens if I don’t register within that period?
A reserved company name in Pakistan is typically valid for a specific period, usually around 90 days. If you do not complete the company registration process within this period, the name reservation will expire, and you will need to start the name reservation process again. It is advisable to complete the registration within the validity period to avoid losing the reserved name .
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