The underlying legal code in Pakistan is mixed (common and sharia law) law. You will want to get some local advice as to how to best structure a company in Pakistan. E-signatures are allowed.
The letters PK is for Pakistan and the most common company type type in Pakistan is a LLC (Pvt Ltd).
You should expect a wait time of 9 weeks to put together the paperwork and file a LLC (Pvt Ltd) in PK. The minimal capitalization, or amount you're expected to put into a bank, is 0, This means you don't have any minimum share capital. The types of cash you can use to capitalize your company is most commonly any legal currency.
. One is typically not permitted to change the jurisdiction.
There must be at least This means it is not possible for you to own a LLC (Pvt Ltd) in Pakistan as a sole shareholder. You must have other shareholders, they can be nominees or de facto shareholders. Corporate Shareholders are allowed, meaning you could have a company as a shareholder. Foreign ownership is encouraged, up to 100% of the total equity of the company.
A LLC (Pvt Ltd) is only required to have 1 director on the board. Moreover, corporate directors are not permitted. Directors should not have an expectation of privacy, as they are not kept private in Pakistan. There is a body of law which requires companies to hold an annual meetings of shareholders.
A registered agent is normally required, which means the company will have to pay a fee on a yearly basis, for an office which can receive any official legal correspondance on behalf of the registered legal entity. Furthermore, a company secretary is a requirement.
There is a requirement to file accounts to relevant authorities. Furthermore, there is oftentimes a requirement to have these accounts audited.
Thin capitalization rules are not in effect.
A corporate director is not permitted, meaning this country is not a good option if you are setting up a structure where you want to protect director liability.
The directors are disclosed in the public registry of Pakistan, Securities and Exchange Commission of Pakistan. Shareholders are disclosed in the Securities and Exchange Commission of Pakistan.
Typically companies take 9 weeks to setup and there are 1 director(s) required and 2 shareholder(s) required at the time of incorporation.
Overall we think Pakistan is a ok option and have given it a score of 47 as an IO score, using the Incorporations.IO proprietary formula.
9 weeksto form