Business Law in Pakistan
This overview of business laws of Pakistan is a very brief description of common forms of businesses adopted by private and public sector investors in Pakistan. An attempt has also been made to outline general requirements and regulatory regimes for each of these forms of businesses in Pakistan. These brief notes are for general guidance only and should not be taken as a substitute for thorough and professional legal advice.
What are the common forms of business in Pakistan?
Main forms of business organizations adopted by private sector in Pakistan are as follows:
- Sole proprietorship in Pakistan
- Partnership in Pakistan
- Limited liability Company in Pakistan
- Joint venture in Pakistan
Main forms of business organizations adopted by the public sector, where the government wishes to undertake an enterprise, in Pakistan are either a limited liability company or a statutory corporation.Out of these diverse forms of business set ups in Pakistan, a limited liability company remains the most favorable form of business organization for medium and large-scale businesses in Pakistan.
- Companies Act, 2017
- Companies General Provisions and Forms Rules, 1985
- Single Member Companies Rules, 2003
- Schedule of Filing Fee
Companies remain the most favorite form of business organization in Pakistan especially for medium and large-scale business enterprises. Legal regime for establishment and regulation of companies in Pakistan is given in the Companies Act, 2017. Whereas the function of administration of these companies is vested in the Securities and Exchange Commission of Pakistan and the Registrar of Companies appointed by the Securities and Exchange Commission of Pakistan for a province of Pakistan where such company is to be registered.
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