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Company Setup in Pakistan

Are you considering to set up a Business entity in Pakistan?

What region in Pakistan to pick for company registration?

It is only possible to answer this question by having a clear vision of your goals and objectives and by understanding laws and rules of the land. Irrespective of the region you decide to operate your company within Pakistan from, the company will be registered with the Securities and Exchange Commission of Pakistan (SECP) and will be legally liable to operate according to the relevant compliance framework passed by the Commission or any other relevant regulatory body.

Once the nature and functioning of your company is determined we help you register your company with the relevant institutions.

Brief

The Securities and Exchange Commission of Pakistan (SECP) is the regulator of companies in Pakistan. The SECP is responsible for overseeing the registration and regulation of companies operating in Pakistan, including;

1. Private Limited Company: This type of company is privately held and has limited liability for its owners. The company is required to have at least two shareholders and a maximum of fifty.
2. Public Limited Company: This type of company is listed on a stock exchange and is publicly traded. It has a minimum of seven shareholders and is required to have a higher level of transparency and disclosure.
3. Single Member Company: This type of company is owned by one person, who is also the sole director. This type of company is not required to have a minimum number of shareholders.
4. Limited Liability Partnership (LLP): This type of company combines the features of a partnership and a limited liability company. The partners are not personally liable for the debts of the company and the company is considered a separate legal entity from its owners.
5. Foreign Company: A foreign company is a company that is incorporated outside of Pakistan but operates in the country.
6. Non-Profit Organization: This type of company is set up for the purpose of serving a social or charitable cause and does not distribute profits to its owners.

These are the main types of companies regulated by the SECP in Pakistan. The SECP is responsible for ensuring that these companies comply with the legal and regulatory requirements in the country.

Of the six types listed, small and medium companies typically register as either SMC (type 3) or Pvt Ltd LLC (type 1) while some law firms register as LLP (type 4).

We recommend that you to register as type 1 or 3 and will therefore explain them further. We shall begin with private limited companies, some of their key features are;

1. Ownership: A private limited company is owned by private shareholders and is not publicly traded. There is a minimum of two shareholders and a maximum of fifty shareholders.
2. Liability: The liability of the owners is limited to their invested capital in the company. This means that the owners are not personally responsible for the debts and obligations of the company.
3. Management: The management of a private limited company is vested in its directors, who are appointed by the shareholders. The directors are responsible for running the day-to-day operations of the company.
4. Capital: A private limited company must have a minimum paid-up capital of PKR 200,000.
5. Reporting: Private limited companies are required to prepare and file financial statements with the SECP on an annual basis. They are also required to hold annual general meetings (AGMs) and provide regular reports to shareholders.
6. Dissolution: A private limited company can be dissolved if the shareholders vote in favor of dissolution, or if the company is unable to meet its obligations and is declared insolvent by a court.

These are some of the key features of private limited companies in Pakistan. They provide a flexible and relatively straightforward way for entrepreneurs and investors to establish and run a business, while also limiting their personal exposure to risk.

Now moving to SMC(s), it is a type of company in Pakistan that is owned and operated by one person. Some key features of SMC(s) are;

1. Ownership: A single member company is owned by one person, who is also the sole director of the company.
2. Liability: The liability of the owners is limited to their invested capital in the company. This means that the owners are not personally responsible for the debts and obligations of the company.
3. Management: The owner of a single member company is responsible for managing the day-to-day operations of the company.
4. Capital: A single member company must have PKR 100,000 as paid up capital.
5. Reporting: Single member companies are required to prepare and file financial statements with the SECP on an annual basis.
6. Dissolution: A single member company can be dissolved by the owner at any time, or if the company is unable to meet its obligations and is declared insolvent by a court.

These are some of the key features of single member companies in Pakistan. This type of company is a simpler and less formal structure that is well-suited to small businesses or entrepreneurs who prefer to have complete control over their business. However, it is important to note that the owner is personally responsible for all debts and obligations of the company.

Employee Leasing / Outstaffing Services

Entering a new market venture is a game-changer, especially when deploying your workforce directly in Pakistan. If establishing a legal entity seems premature but you wish to harness the impact of having your own employees operating across the country, Meena Business Consultancy Services has a tailored solution for you. Our clientele attests to the success of employee leasing, particularly for functions like sales & marketing, business development, distributor management, and service & maintenance.

Employee leasing offers a rapid, adaptable, and seamless solution. It allows for a smooth transition to your subsidiary when your business expands and also provides a swift exit strategy if needed. By entrusting administrative tasks and local requirements to us, our clients can concentrate on their core business development without distractions.

Key Features of Employee Leasing with Meena Business Consultancy Services:

– Fast, flexible, and smooth entry into the Pakistani market
– Complete control over business development with a dedicated team
– Ideal for building, managing, and supporting distributors and key accounts
– Customized recruitment to align the local team with your corporate culture
– Freedom from time-consuming local administrative tasks
– Seamless market exit when required
– Integration of your employees with motivational events
– Professional business environment with a dedicated office space

Scope of Employee Leasing / Outstaffing Services:

Our comprehensive services cover every aspect of employee leasing across Pakistan:

– Client-specific search & selection
– Negotiation of employment conditions and contract conclusion
– Recruitment and employment handled by Meena Business Consultancy Services’ local partners in each region of Pakistan
– Provision of work and residency permits where necessary
– Negotiation and payment of health insurance in compliance with local regulations
– Professional payroll accounting within international standards
– Expense and allowance management with client approval
– IT infrastructure supply, including laptops, landline phones, and mobile phones
– Support for travel visas and international health insurance
– Mailing services
– Work reports and KPIs

Why Entering the Pakistani Market is important for your business growth:

The Pakistani market serves as a strategic hub, boasting economic diversity, political significance, developing infrastructure, and a favorable business environment. Key points include:

1. Economic Stability: – Pakistan exhibits strong economic potential, with growth driven by key sectors such as agriculture, textiles, manufacturing, and information technology. Efforts are being made to further diversify into sectors like tourism, energy, and technology.
2. Strategic Location and Connectivity: – Pakistan’s geographical location at the crossroads of South Asia, Central Asia, and the Middle East makes it a strategic hub for businesses. The country offers well-connected transportation infrastructure, including major airports, seaports, and land routes, providing access to regional and international markets.
3. Business-Friendly Environment: – Pakistan has implemented policies to attract foreign investments, offering tax incentives, simplified business registration processes, and special economic zones. These measures create a conducive environment for companies seeking to enter the Pakistani market.
4. Diversification of Industries: – Pakistan is actively focusing on diversifying its economy beyond traditional industries, with investments in technology, renewable energy, infrastructure, and e-commerce. This diversification opens opportunities for businesses across multiple sectors.
5. Skilled Workforce and Growing Consumer Market: – Pakistan has a young, educated, and rapidly growing workforce. With investments in education and technology, the country is becoming a source of skilled talent, making it easier for businesses to find the right employees. The growing middle class also represents a significant consumer base for various industries.

These factors collectively contribute to the attractiveness of Pakistan for businesses seeking opportunities in a dynamic and evolving market.

Legal

Many activities in Pakistan do involve legal questions. Being it the creation of an employment contract, the negotiation of a distributor agreement or in more unfortunate cases a dispute resolution. As a full-service provider, Meena Business Consultancy Services can support its international clients for those topics as well. Together with a partner we have integrated a wide range of legal services into our service offering. Our highly qualified consultants work closely together with a network of trusted lawyers in Pakistan who are experts in international law as well as the legal system of Pakistan.

• Corporate & Commercial Law
• IP Rights and Media Law
• Real Estate Law
• Tax Law
• Employment Law
• Distributorship & Franchise Law
• Mergers & Acquisitions
• Legal Compliance
• Litigation and Alternative Dispute Resolution

Corporate and Commercial Law

We have developed expertise in performing legal obligations and advising on all matters pertaining to corporate and commercial law including complex restructuring and re-organizations. Our expertise are extended but are not limited to obtaining specific licenses for specialized corporate and commercial practices.

IP Rights and Media Law

Our team is well-versed on the IP Rights and Media law. We have successfully represented a number of reputable clients before the Intellectual Property Tribunal and cases involving the special media laws in Pakistan including but not limited to defamations laws.

Real Estate Law

We regularly advise and draft all agreements and contracts for our clients on large and medium scale real estate projects including dispute settlements emanating from real estate investments and joint ventures. We have represented a wide number of buyers, sellers, developers, investors, tenants, sponsors, public and private funds, and financial institutions. We further perform due diligences of title documents, physical title verification, advising on issues relating to acquisition of immovable properties and preparing necessary transaction documents.

We are especially adept at laws pertaining to Real Estate Investment Trust (REIT) and the formation of it.

Tax Law

Tax law requires specialized skills and expertise. Therefore, we engage our reputable and trusted legal experts and outsource taxation matters.

Employment Law

Our clients cross a range of business sectors which places us in the advantageous position of precisely assessing the needs of your business and providing employment advice and services. We assist local and foreign corporates with all aspects of labor and employment laws such as day-to-day labour and immigration law issues, social security, hirings, terminations and layoffs, compensation arrangements, wages and stock option schemes, and negotiations with trade unions.

Distributorship and Franchise Law

Our regular corporate and commercial law engagement includes advising and drafting of documents on matters pertaining to distributorship and franchise law.

Mergers and Acquisitions

We have worked on some of the most complex mergers, acquisitions, divestitures and corporate reorganizations in Pakistan, UAE, Labuan, UK, and Indonesia. We have gained special knowledge and skill in dealing with the regulatory bodies of the above-mentioned jurisdictions when performing such organizational transformations for corporates.

Legal Compliance

We advise and regularly perform legal compliance for a wide and diverse range of local and foreign clients. Our expertise in the field includes complex and specialized corporate entities such as non-banking finance companies and regularly engaging with the regulatory institutions on behalf of and for our clients.

Litigation and Alternative Dispute Resolution

We consider carefully with our clients the respective merits of each party’s position, focusing on the real issues in dispute, the risks involved and the suitability of all forms of resolution, be it by way of litigation, arbitration, or alternative dispute resolution (ADR) such and mediation or expert determination.

Market Research/Market Entry Strategies

MARKET STUDY, MARKET ASSESSMENT/ MARKET ENTRY STRATEGY

For more than 6 years, we have helped our clients understanding emerging markets by conducting market research projects. To understand your target market, we offer three approaches:

1. Market research
   B. Market assessment
   C. Market entry strategy

Market Research is an important tool to understand the market conditions, the market size, the competition, and the trends. This gives you important insights before entering the market, setting the strategy, or deciding on local investments. If you would like to have an easy-to-read and clear-cut formatted report which is prepared according to your questions, we are the right partner for you.

Advantages of conducting a Market Analysis with Meena Business Consultancy Services

We offer:

• relevant insight. No matter how niche your sector is, we look at the market through the eyes of our clients, talk to the right people and understand how to filter the relevant data.
• a tailor-made research scope, from answering a few questions up to a fully comprehensive market analysis.
• a flexible approach and can integrate our clients into the project steering, enabling them to dynamically adjust the research focus according to upcoming findings.
• a highly developed methodology to research the markets.

Our Market Research Methodology and Tool

We have proven methodology and tools which we can easily customize to your research needs.

Each research project can be a unique combination of:

• Desk research
• Phone interviews
• Face-to-face in-depth interviews
• Site visits
• Online surveys
• Focus Groups

Typical Scope for Market Research

• Market size
• Market structure
• Sales & distribution channels
• Key players (competition, customers and other stakeholders)
• Market shares
• Trends & developments
• Forecasts
• Cost structure
• Location analysis
• SWOT analysis

We can also provide more insight by a detailed competition analysis & benchmarking.

Business Visa

We offer you visa facilitation and advice services to Pakistan. We have comprehensive experience and expertise in what we promise and deliver, and thus have no parallel when it comes to serving corporate clients. Our heritage of quality client servicing and delivering the best to clients, have made us earned the first choice of visa and residency services. We follow a series of highly advanced, precise and streamlined processes to ensure our clients’ absolute security and confidentiality and follow all national and international laws and regulations regarding private data protection such as the EU General Data Protection Regulation also known as GDPR.

Export Loans & L/C

Are you looking for export financing?

Finding suitable banks for buyer credits and confirmed LCs isn’t always easy, whether you are looking to finance your imports or are helping your buyer find inexpensive financing. This applies especially to shipments to emerging and developing countries. Our large selection of international banks ensures that you can find inexpensive financing even for difficult markets.

Would you like to simplify your search for financing?

Time is money. E-Mails and telephone calls lead to long communication chains and appointment coordination between you and your (core) banks.
What if you could forego this tedious back and forth and also save time by being able to control and analyze your financing all in one place?

Your Benefits at a Glance

When it comes to efficiency, digital platforms are unrivaled. This is why we together with our partner support, a fully automated digital marketplace. It simplifies the process of finding and analyzing financing offers.
Both experienced buyers and suppliers can make financing requests.
The marketplace was developed in close co-operation with a dozen reputable machine and plant manufacturers. Particular emphasis was put on the security of our infrastructure.

What are the conditions and fees for receiving an export loan or a confirmed L/C?

Administration fees:

1. Buyer – free of charge
2. Seller – Export loan 249 Euro per inquiry and for L/Cs 99 Euros per inquiry

Due Diligence

Our due diligence services include independent investigations in the target company’s operating qualifications, operating status, background of management staff, market risk and management risk. In addition, we conduct comprehensive review of the target company’s compliance with respect to its normal business processes. Examples include whether the target company and its internal staff, shareholders and senior management are involved in adverse litigation, corruption and bribery, and understanding the background of the target company’s investors.

Our due diligence reports are relied on by a wide range of industries. They help customers undertake compliance management, assess their partners’ compliance risk and serve as important basis for collaboration with business parties.

We leverage on our advance data, comprehensive and reliable data source as well as our team of experienced professional to conduct objective, full and comprehensive business data such as to help business decision-makers to avoid working with organizations with irregular operations, thereby preventing them from incurring financial loss or even legal penalties or administrative fines. Enterprises can rest assured that their business dealings with partners can grow in a reliable and healthy manner.