How to Register a Business ?? All of us think the same when we plan to start our business. We must register our business to be safe but how ? it has been a question in everyone’s mind when thinking or planning to start a new business.The same happened with me years back when I decided to start my business after passing out my From University.
I had very little information regarding Business Registration in Pakistan (expect basics studied in university). There are lots of business running in Pakistan, some are registered and others are non registered.
How to Register a Business
Businesses are supposed & sometimes forced to register within country and in some cases also across the boarders. Business registration is always advised in every country by their authorities for tax collections and re-use collected amount for improvements, developments, infrastructure & education, health or etc in country.
Reading: “How to start a Small Business in Pakistan”
- Your preferred Company Name i.e, like we are Al-Haq Traders
- Location of the business, principal office and branch office with their complete address and contact details.
- Business Nature or Principal Activity (Manufacturing, Trading, Retail, Wholesale, Services etc)
- Contact details of Partners (if partnership company)
- An Active Bank Account
As we are in Pakistan, I shall focus on How to GET NTN / GST in Pakistan. There are two stages of registration of a Business under FBR, the 1st one is National Tax Number (in short NTN) and the 2nd is Sales Tax Registration (in short STRn or STR).
You need to get your NTN first if you are interested in acquiring your Sales Tax Registration but for NTN you just need to have above details and your National Identity Card (in Pakistan issued by Nadra).
Once you get the registration form (in Pakistan from FBR) Let me add here that there are some categories of businesses registration like Individual or Proprietorship / Partnership / Private or Public limited Company.
Required information for registration under Federal Board of Revenue or FBR
How to Register a Business category: Individual / Proprietorship; the Individual must
Reading: “Benefits of Business Registration“
After collection of above mentioned documents
- Sign the form: The statement of prescribed form shall be signed by all the partners and duly verified by them.
- Fee Submission (if any, like NTN and STR is has no fee but Chamber registration, trademark authority, logo etc have their fee)
- Necessary prescribed fee will be paid and form will be submitted to the local registrar’s office or advised bank branch.
- After the registrar of firm is satisfied that the requirements of registration have been duly complied with, he/she shall issue you a Certificate (NTN or GST)
That is all to get registered in Pakistan yet i have added general information that may be helpful around the globe. In Pakistan you can register your firm online via fbr site and if you don’t want to go from above processes you can consult local lawyer (dealing tax) for registration. I hope you know How to Register a Business in Pakistan and Start Selling through Advertising