Single Member Company Registration Guide
Do you want a sole company in which you are the only member and are free from shareholder interference, but you are unsure of the requirements for registering your business? You don’t need to worry at all because we have brought you an easy guideline for how to register a single member company. There are many advantages of Single Member Company i.e., it can lower corporation tax. The member can solely enjoy the limited liability in decisions. There are less risk of disputes or difference of opinions. All the claims, profits and losses are associated with one person and the founder is responsible for it.
Registration Guide:
Few steps or your personal information is required at the time of registering your company.
- Company Name or Business Name
- Copy of your CNIC or passport
- Address of the Company
- Capital of the Company
- Memorandum of Association
- Articles of Association
- Power of professional person
- Appropriate Official Fee i.e., not refundable
After the confirmation of the fees and all the personal details and bio data, it takes almost a week for complete registration method. These were the details that are required while processing your application form. There can be two methods for submitting your applications, either online or manual.
Online Registration:
- You need to create an account at eService and generate a PIN for further using or signing up the application
- Submit your application
- Enter all the data in the form
- Submit the Process
- Make payment through debit card, credit card or any online mobile banking application. You can also take out the print of the fee challan and deposit it in the bank.
Manual Registration:
- Generate manual challan.
- Deposit the fees in the respected branches.
- Submit your application along with the original fee challan.
Above is provided the basic Single Member Company Registration Guide. You can head over to their website or visit their office for full verification.