The first and most crucial step to setting up a company is its name. Company name is its identity. It also acts as a marketing tool for your business. You need to legally reserve your company name to secure legal protection. SECP is responsible for regulation of the corporate sector and capital market in Pakistan. All corporations need to reserve their names under this organization. The application process can now be done online. SECP eZfile portal is user-friendly and easy to understand in order to do SECP company name reservation and incorporation. You can reserve your company name in some easy steps following our guidebook. For more details, refer to the in depth SECP registration process, please click here
Here we have a step-by-step guide on how you can do SECP company name reservation online
TENCO Consulting is here to assist you while getting your business registration in Pakistan, legally. SECP name reservation is an online procedure and the first most basic start to register business. SECP new user friendly manual has eased the registration process. Name reservation is meant to protect your business name . It gives protection to your company.
SECP Login/Sign up
Go to the SECP login eServices portal for SECP name reservation. Click on eZfile box. SECP previous eServices portal is only for its own officers and authorities. At the upper right corner you can see a login button / signup button. Login is for pre registered users whereas signup is for first time users. If you are new here and want to get start off with the registration procedure, TENCO Consultancy is here to assist you out.
On the main page there are three categories under company registration
Help me decide tool: This tool will help you decide the most suitable legal entity for your company
Company/LLP
Manual challan generator
To sign up the applicant should have
CNIC / Passport no / NICOP
Mobile number registered on above mentioned CNIC
E mail (do not use an email that is already registered on the website)
Once logged in the applicant is directed to the dashboard. The dashboard gives an overview of your profile so one can make the desired changes . There are options for you to register a company . start a company, filing and compliance, etc
SECP Company Name Reservation
You can initiate the process by clicking the “Name Reservation” button displayed on the header. Select the type of name reservation you are applying for.
Firstly, Select your company type (limited liability partnership, single member company, private limited or public limited company etc). Moving further, the applicant will be provided a brief overview about the company type they have chosen to review their choice. Moreever, enter your proposed name and check for SECP name availability. SECP name can get approved if it is not reserved by any other company in Pakistan. Make sure that your name does not contain any prohibited or restricted words. You can also provide significance and rationale behind the proposed name. In case there is a match you can provide evidence to claim a relationship with the existing name in “Documentary Evidence”. The applicant can propose a total of three names.
Business Objectives for SECP company Registration
After clicking, Business Objectives section will be the next step. Enter company details like sector, principle line of business etc. In addition, one can also add their business objective clauses. The business objectives should align with the company name and sector. Company’s Memorandum of Association will reflect these clauses.
Company Information
An application form will open up. Fill in the company’s information, such as company type, authorized capital, paid up capital, etc. Recheck the information to make sure that the information entered is correct.
Stakeholders Information
Here the applicant can register new people as well as look for pre registered persons by their CNIC. One can also add its Body corporate partners in the same way using CUIN (company universal identification number) provided by SECP. Additionally, we have the option to add a Nominee or Authorized Signatory to serve as the corporate body’s designated partner. Information such as FBR details , shares , and the nature of directorship needs to be provided.
Article of Association/Memorandum of Association
Enter the rules and regulations of your company. MOA is the legal document that gives an insight into the principal, structure and key objectives of the company. It also acts as a declarant of company names and services. Furthermore, when writing MOA avoid overly vague and ambiguous statements, be concise and vigilant.
AOA should also be concise and to the point. Furthermore, you can customize your AOA according to the needs and objectives of your company. It should also be flexible to accommodate future changes. Make sure your AOA and MOA complies with the laws and regulations of SECP.
(Tip make sure to download a copy of AOA and MOA you have attached in the application form).
Certified True Copy
SECP issues a verified document CTC. It is marked by an official stamp or seal to verify its authenticity. SECP keeps a record of all companies registered with it. The applicant will be provided the option to download his/her companie’s CTC. Now the system has been digitalized, SECP puts a digital stamp on on companies Certified True Copies CTC. This digital CTC remain valid for a period of 1 month . After the expiry of validity you can apply for again fresh SECP CTCs copy by paying government fee eZfile portal, if required.
Third Party Information
In this section enter basic legal information regarding your company such as tax details, EOBI.
Declaration
In the end, the applicant is asked to check the box of declaration that all the information entered is correct, and in case of any problem in the documents provided, SECP holds full right to reject the application. If the declarant is not the proposed subscriber, then introduce an Authorized Intermediary. Choose the appropriate member or business to notify.
Lastly, the applicant or authorized intermediary needs to enter a valid PIN to submit their application.
Payment
SECP has set standard fees for its services. You can download the challan via eZfile portal. Use Credit/Debit card or 1-Bill link to pay the challan. However, please be aware to submit the challan within 7 days of application, or else your application will be rejected.
