Introduction regarding SECP Registration Process

Thinking about starting a business in Pakistan? Great! The Securities and Exchange Commission of Pakistan (SECP Registration) is the go-to place for making it official.

Starting a business and need SECP registration guidance? Get expert help! Book a paid Zoom consultation for premium support and make your registration process smooth and easy.

This blog will help you understand what SECP does and guide you through the easy steps to register your company online. Whether you’re new to this or have done it before, we’ve got straightforward info to make your business journey a breeze. Let’s get started!

And if you want expert assistance, Scounts Consultancy is here to make it even easier! We specialize in hassle-free SECP registrations.

What does SECP do in Pakistan?

The Securities and Exchange Commission of Pakistan (SECP) is a regulatory body responsible for overseeing the companies in Pakistan.

SECP oversees the registration, licensing, and operations of companies, ensuring compliance with relevant laws and regulations.

SECP regulates the stock exchanges, brokerage houses, and other participants in the capital market to ensure fair and efficient trading practices, protect investor interests, and promote development. SECP supervises various non-bank financial institutions, including mutual funds, modarabas, non-banking finance companies (NBFCs), and insurance companies. It sets prudent standards, conducts inspections, and takes corrective action when necessary.

SECP promotes best practices in corporate governance through code-of-conduct implementation, training programs, and awareness campaigns.

Overall, SECP plays a vital role in maintaining a fair, efficient, and transparent financial system in Pakistan.

Which companies are registered with SECP?

Listed Companies, Non-Listed Companies, SMCs, and Private Companies Operating their business in Pakistan are required to be registered as per the regulation of SECP. Following is the List of Companies which are required to be registered with SECP:

• Securities’ and Futures’ Advisors.
• NBFCs.
• Voluntary Pension Funds.
• Insurance Sector.
• Insurance Companies.
• Section 42 Companies.
• Capital Markets.

How do I register a person in SECP?

Registering a user is a simple process. Any Person Desirous of registering a company on the SECP E-Services portal, a new user is registered to have a CNIC or Passport.

In the Registration Process a registration form is filled which requires the following details;

• CNIC/NICOP/POC/Passport No.
• Name
• Father’s Name
• Date of Birth
• Gender
• Mobile Number registered on his or her CNIC
• Email Address
• Country of Residence
• Nationality
• Occupation
• Mailing Address
• Password (create a strong password)’

On submission of the above, the login Creation process will start and a code will be received on your registered mobile number or email address, by entering the code on e-services in the designated field the account will be activated.

What are the benefits of registering with SECP?

Legal recognition and existence: Registration grants your business a legal identity and existence, enabling you to open bank accounts, enter into contracts, and operate officially.

Limited liability protection: Separates your assets from business liabilities, offering financial protection in case of debts or losses incurred by the company. Enhanced credibility and trust: Registration signifies professionalism and legitimacy, potentially boosting your image among customers, investors, and partners.

Access to financial resources: Registration opens doors to various loan and funding opportunities unavailable to unregistered businesses.

Compliance with regulations: Registration ensures your business adheres to relevant laws and regulations, minimizing legal risks and ensuring smooth operations.

How can I register my name in SECP online?

A Name reservation form is filed to SECP with the proposed name by which the company is desirous to register.

How can I register my company for free in Pakistan?

There are some fees associated with company registration in Pakistan, but there are ways to minimize the cost and potentially register your company.

Legal Fees of SECP are applicable.

Consultant fees are paid for the stimulating registration process.

Remember, “free” registration might not be entirely possible due to unavoidable minimum fees. You can contact us for affordable company registration and compliance services.

How much does it cost to register a company with SECP?

The cost of registering a company with SECP in Pakistan depends on various factors;

The primary fee is based on your company’s authorized share capital. For online registration, the fee structure is:

Up to PKR 100,000: PKR 1,000

For every additional PKR 100,000 or part thereof (up to PKR 5 billion): PKR 700

For every additional PKR 100,000 or part thereof (above PKR 5 billion): PKR 165

Online registration is significantly cheaper than offline registration. The offline registration fee starts at PKR 5,000 and can vary depending on the share capital and additional services requested.

How do I get an SECP registration Certificate?

Certificate of Incorporation; this document verifies your company’s legal existence and is issued after successful company incorporation on the SECP e-services portal.

What type of documents are required to register a firm with SECP?

Common Documents for All Firm Types are as follows:

• National Tax Number (NTN) for all directors and shareholders
• Proof of Identity (CNIC/Passport) for all directors and shareholders
• Memorandum of Association (MoA)
• Articles of Association (AoA)

Additional Documents for Specific Firm Types:

Private Limited Company: Declaration of no intention to convert into a public company (if applicable)

Public Limited Company: Minimum paid-up share capital of PKR 5 million Prospectus for public subscription of shares (if applicable)

Single Member Private Company: Affidavit declaring the sole proprietorship of the company

Foreign Company Branch Office: Certificate of Incorporation from the home country Audited financial statements of the parent company Power of attorney for the appointed representative in Pakistan

How do I pay my SECP fee online?

SECP Fees are paid through the following methods;

Direct Debit: Use your ATM card or bank account for direct debit payment.

JazzCash: Pay through your JazzCash mobile account.

Easypaisa: Pay through your Easypaisa mobile account.

Credit/Debit Card: Pay securely using your Visa, MasterCard, or Union-Pay card.

Conclusion- SECP Registration

You can also download our mobile app and contact us for any assistance related to SECP registration. You can also watch this helpful video explaining the features of our mobile app.

Excited to start your business? SECP registration is easy, and with Scounts Consultancy, it’s even easier! Let’s make your business official and successful together. Contact us today, and let’s get started!