How to Register Real Estate Company in Pakistan

Introduction

As the real estate sector continues to grow, more and more companies are being registered on a daily basis and new property tycoons and entrepreneurs are ready to serve this industry. Without a doubt, this industry provides excellent prospects for everyone to advance and earn a lot of money. Turning into a company or firm can surely boost your expertise as well as business in order to generate more revenue.

You may ask how we can register any real estate company in Pakistan? The government and concerned bodies have made some rules and regulations to register the company. The Security Exchange Commission of Pakistan is the body that regulates the startups and initiatives. Through its online portal, it aims to provide ease of business to everyone in the country.

You can quickly register your firm with a few easy steps. Instead of physical submission of documents, it’s suggested to go through the online portal and submit the necessary documents. All process of real estate company registration is precisely discussed in a blog with few tips.

How to Register Real Estate Company in Pakistan?

The online registration process will take one to two months to complete. At first, you have to reserve the name of your business. There are a few steps to the procedure, and each one requires some significant information about your company. Make an Account on SECP Portal

1. First of all, create an account on SECP online portal to proceed further.

After the complete signup, fill the form with all necessary information.

Verify the account and save the credentials.

Remember, provide accurate data such as CNIC and Passport number to access the portal next time.

2. Process of Company’s Name & Incorporation

After the successful signup to the portal, move to the next process “ Name Reservation and Company Incorporation “
Enter three different names of the company and these names must be relevant or partial relevant to your business.
Provide a brief description of your business and select the appropriate option that describes its type and structure.

3. Company’s Complete Details
In the next process, give accurate and complete details about your company such as its location, total members, contact information, and total capital.

Physical Process of Name Reservation

Although the online process is more easy and simple, but anyone who prefers the physical process must follow these steps.

Get the application form from the official website.
Visit the near registration company office and submit the application to the registrar. The complete offices’ list in all major cities of Pakistan is given on the official website.
If your application meets all requirements, you’ll be given a name availability letter for two months and the process will be completed in sixty days.

It’s better to go with the online process because you have to pay fee as a charges for the bank challan and the incorporation fee will be double in the physical application. SECP’s management also prefers the online process because of the government initiative toward e-governance.

Submission of Incorporated Documents to SECP

After the company’s name approval, the next step is to register your firm in SECP by submitting the incorporated documents. These files can be submitted in pdf form through online portal. These required documents for company registration are listed below:

Memorandum of Association: Complete details about your business
Article of Association: Complete details about duties and responsibilities of Directors
Directors’ CNIC
Bank Fee Receipt
Registration Fee

Digital Signature and Certificate

After the document submission, SECP will evaluate the provided documents. After approval, the National Institutional will issue the digital signatures that can be gotten through the SECP portal. In some businesses, you have to submit a presentation about your business model to NIFT.

Register with FBR

It’s the last step but most important because the government has tightened its policy regarding income tax. Following documents must be provided with the application.

National Tax Number
Company’s Registration Proof
Bank Account Details
Article and Memorandum Association
Business Address
CNIC Copies of Directors

Register for Sales Tax

Before applying for sales tax, you must have a sales tax number ( STN ). The same process will be followed for the registration.

Register for Sales Tax

Before going for business registration, one must fulfill all the criteria:

Minimum of two directors of the company are must.
There should be two shareholders.
Capital amount of at least 100K.
The physical location of your business.

What is the capital requirement?

A minimum amount of at least 100K is required for the incorporation and registration of the company. For this capital, 1800 Rupees will be charged through the online submission and 3500 Rupees for the manual application. The amount varies according to the type of business, size, and total capital.

Conclusion

Real estate is the only sector after the textile industry that’s growing and booming at full pace. As an individual, you may not expand your operations, but as a team or firm, there are great opportunities to grow in this business. All process is explained in detail with guidelines that how to register real estate company in Pakistan.