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Before you can register your company in Pakistan, the very first step is to choose a unique name. This is essential because your company will be a separate legal entity, and the name is how it will be identified in the business world. Luckily, the Securities and Exchange Commission of Pakistan (SECP) offers an online tool to help you find the perfect name and check if a company name is registered or not in Pakistan. This tool not only lets you check if your chosen name is available, but it’s also useful for finding information about existing SECP-registered companies. Let’s delve into how you can use this tool to pick a company name that is not only distinct and easy to remember but also complies with Pakistani law.
Why is an SECP Company Search Important?
Before settling on a company name, it’s crucial to conduct a thorough search on the SECP’s online portal. This will help you check if your company name is registered or not in Pakistan.
The search results will reveal if any existing companies have the same or similar names to your chosen one. The results of this search will guide you in selecting a name that meets SECP’s criteria for approval. It’s important to note that the SECP registrar will not approve any name that closely resembles or is identical to an existing business name within the same industry.
Company Name Restrictions Under Pakistani Law
In general, you have the freedom to choose any name for your company. However, there are certain restrictions under the Companies Act 2017 that you need to be aware of. The Securities and Exchange Commission of Pakistan (SECP) or the registrar has the authority to reject certain names.
Here are some of the reasons why your chosen company name might not be approved:
- Similar or Identical Names: The name cannot be the same as, or too similar to, an existing company’s name.
- Inappropriate or Undesirable Names: Names that are considered offensive, misleading, or inappropriate will not be accepted.
- Religious Sensitivity: Names that could offend religious sentiments are strictly prohibited.
Furthermore, under Section 10 of the Companies Act, a company name cannot suggest any connection with:
- Past or present Pakistani or foreign heads of state.
- The federal or provincial government, or any of its departments, authorities, or statutory bodies.
- Any corporation established under federal or provincial law.
- Any foreign government or international organization.
- Modaraba management companies or modarabas.
- Any business that requires a license from the SECP.
Choosing the Right Name for Your Company
As we’ve discussed, you have the freedom to choose any name for your company, as long as it doesn’t violate any of the restrictions we covered. With that in mind, the following tips will help you select a name that not only aligns with your business but also resonates in today’s market. Use the SECP company name search tool to check registered company names in Pakistan as you explore these tips.
Crafting a Distinctive Company Name
Your company name is the face of your business, so it should be one-of-a-kind. A unique name will set you apart from the competition and make you more memorable. To achieve this, consider combining words that reflect your business. For example, a property consulting firm could use a name like “ProConsult,” a blend of “property” and “consultant.” Additionally, using acronyms or descriptive words can help you create a truly unique and catchy name.
A Memorable and Relevant Name
When choosing a name, keep in mind that it should be easy for your customers to remember. After all, how will they find you if they can’t recall your company’s name? So, while your name should be unique, it should also be simple and memorable.
In addition, consider choosing a name that reflects the nature of your business. This will give people an idea of what you do, even before they learn any details about your company.
Check Domain Availability
In today’s digital age, having a strong online presence is essential for any business. When choosing your company name, it’s wise to check if a matching web domain is available. Having your company name as your website address gives you a significant advantage in the online world. Customers often search the internet to find businesses offering the products or services they need. Before finalizing your company name, make sure you can secure the corresponding domain to establish your online identity.
Consider Trademark Registration
Sometimes, even if you find a unique name for your company, someone else might already be using it—perhaps as a sole proprietor or partnership. This could lead to legal issues down the road. To avoid such complications, it’s advisable to check if your chosen name is available for trademark registration in Pakistan. This extra step can save you trouble in the long run and help protect your brand.
Steer Clear of Prohibited Words
Before you apply to reserve your chosen company name, it’s crucial to double-check that it doesn’t include any words that are prohibited by the SECP. If your name contains any such words, it won’t be approved or reserved. The SECP has published a list of these prohibited words, which should not be used unless you have a very good reason and can justify their inclusion.
Using SECP’s Company Name Search Tool
Before you apply to reserve your chosen name online or in person, it’s essential to check its availability using the SECP’s company name search page as follows:
https://www.secp.gov.pk/company-name-search/
https://eservices.secp.gov.pk/eServices/NameSearch.jsp
This tool allows you to see if your desired name is already registered by someone else.
You have several search options:
- Exact name: Search for a specific name.
- Beginning with: Find names that start with certain letters or words.
- Containing words: See if names include specific words.
- Including the exact string: Look for names with an exact phrase.
If your chosen name isn’t already taken, that’s great news! You can proceed, keeping in mind all the tips we’ve discussed.
Once you’ve followed all the steps and found a name that’s catchy, relevant to your business, and available as a web domain, you’re ready to reserve it. Simply log in to the SECP eServices portal and reserve your perfect company name. After that, you can move on to registering your company.
Common Business Structures in Pakistan
There are three main types of business structures you’ll come across in Pakistan:
- Sole Proprietorship: This is a business owned and run by a single person. Think of a small shop like a tailor or a barber.
- Partnership: In a partnership, multiple people own and operate the business together. Each partner owns a share of the business and shares in its profits and losses.
- Private Limited Company: This is a more formal structure where the business is owned by shareholders who invest capital in exchange for shares. The company is managed by a board of directors, and the shareholders have limited liability. This means their personal assets are protected, and their liability is limited to the amount they’ve invested in the company.
Wrapping Up
Choosing a unique and suitable name is the first step towards registering your company in Pakistan. The SECP name search tool is your best friend in this process. It will help you find a name that’s not only available but also perfect for your business.
