Population growth is one of the main concerns of Pakistan, which also instigates urbanization on a large scale leading to an increase in the demand for residential and commercial property in Pakistan.
The real estate and construction industry are the most profitable and flourishing industries benefiting the state’s economy and generating employment opportunities for many.
How to register your construction company in Pakistan? Starting a new business in Pakistan is not easy; it comes with many challenges, especially in the construction business. Construction projects can be complex, time taking, and multi-layered.
Types of construction companies in Pakistan
There are four main types of construction companies in Pakistan that facilitate the clients accordingly.
- Real Estate planning and strategy developers
- Consultancy companies
- Renovation companies
If you are considering to start a construction business in Pakistan, you must go through several processes, from various regulatory bodies to tax authorities, to obtain a proper license.
Three main Regulatory bodies in Pakistan
In Pakistan, three main regulatory authorities can help you legalise your construction company.
- Securities and Exchange Commission of Pakistan
- Federal Board of Revenue
- Pakistan Engineering Council
1. Securities and Exchange Commission of Pakistan (SECP)
SECP is the most significant regulatory body in Pakistan there are certain steps you need to follow while registering a construction company in Pakistan.
- The First step is to reserve a company’s name through an electronic application or by visiting neartes regional office it may take 3 to 4 working days.
- The second step is Incorporate process.
- The third step is Issuance of a digital signature for future proceedings.
2. Federal Board of Revenue (FBR)
We can also called FBR as Central Board Revenue which performs following functions.
- Major tax registration and collection body.
- Investigate tax crime
- Sceptical accumulation of wealth
- Money laundering
While registering a construction company, FBR helps you register your business.
After the construction company registration with SECP, the next step is the registration of FBR for the taxation process. So for that process, you required documents to apply for NTN.
- Bank account number
- National tax number foam
- Article of association
- Memorandum of association
- Copies of CNIC of all partners and directors
- Proof of companies registration
- Verified business address.
3. Pakistan engineering council (PEC)
To start a construction project, registration with PEC is obligatory to get NOC.
PEC is a fundamental body that registers different engineers and contractors for different construction projects.
Listed documents required for company registration with PEC
- Copy of NTN
- CNIC copies of all shareholders, partners and directors
- Application form
- An organizational chart of the firm
- Certification of incorporation
- Fee voucher
- Undertaking from directors or partners on stamp paper
- Construction company machinery list
- List of equipment owned by the construction company
- Bank statement
- Contract Agreement
To make your construction company’s registration easy and simple, there are a lot of different regional and brand offices across Pakistan, which can make the whole process a lot easier for you.