Register Private Limited Company
Any two or more persons can form a Private Limited Company under the Companies Act, 2017. It is the most commonly used form of doing business.
Key feature
- The financial liabilities of shareholders are limited to the extent of their shares.
- Fix rate of tax is payable on profit irrespective of size of profit.
- Easy to transfer ownership from one person to another.
- Customers, vendors, etc generally rate companies higher than other types of businesses.
- The director can draw a salary from his own business which reduces net income and accordingly tax liability of the Company.
- Comparatively more legal compliances as compared to Partnership and Proprietorship.
List of information requirements
- A suitable Company Name.
- Principle Line of Business of the Company.
- Copy of CNIC/NICOP/Passport/POC of each director
- Cell number of each director registered on their CNIC
- Email of each director
- Cell and email for the Company
- Details of Authorized Capital and Paid-Up Capital
