Any three or more persons associated for lawful purpose may, by subscribing their names to the Memorandum of Association and complying with the requirements of the Companies Ordinance 1984 (“Company Law”) form a public limited company.
The company needs a name for incorporation and first step towards it is to check availability of name from the company registration office of Securities and Exchange Commission of Pakistan (“SECP”). Once the name is officially reserved, the following documents are required to be filed in SECP to fulfill the incorporation requirements:
- Copy of national identity card or passport (in case of foreigner) of each subscriber and witness;
- Memorandum and articles of association;
- Form 1: Declaration of applicant for compliance;
- Form 21: Notice of situation of registered office of the company;
- Form 27: List of persons consenting to act as director;
- Form 28: Consent of directors
- Form 29: Particulars of first directors of the company; and
- Registration and filing fee.
Please note that in case of Banking Company prior approval of Ministry of Finance and State Bank of Pakistan is required. Similarly, SECP approves Non Banking Finance Company; Ministry of Interior approves Security Services Company; Stock Exchange approves Corporate Brokerage House; State Bank approves Money Exchange Company, SECP grants license for Non-Profit Association and Ministry of Commerce grants license for Trade Associations.
Further information for the incorporation of public limited company can be solicited from AUJ LAWYERS. Feel free to contact us in case you need any clarification and/or require assistance for incorporation/registration of public limited company.