Firm registration process is easy and detailed below:
Before starting any type of business for the purpose of import and export the following procedure is very necessary to know and understand carefully, the export and import registration certificates are necessary for importing or exporting the goods.
Here the necessary detail is provided to follow up:
Selection of Name for Firm Registration
The first thing to keep in mind is that the name of any firm would not start with any historic heroes like Allama Iqbal or Quaid e Azam or any other Hero.
Secondly, the related name which has not registered before it or not an International name like Sony, Panasonic, Nike, as well as the logos of them .you can select the name of the firm with the name of any City name of the world, Country, Province or any Mohalla, Street or any ordinary name of any kind.
One thing that is important for this purpose is to select a name that would have no difficult meaning, difficult pronunciation, and also not a big one. here we brief some categories of name are as under understanding about them is very important:
Traders:
it is used for usually to sell readymade items as traders.
Enterprises:
It is useful to provide services to your customers like courier internet company etc.
Industries:
it is used for manufacturing. it shows that your firm is a big one and has its own machinery to produce items.
International:
it is used for international level of Business and it has also shown the business already has on continuous at international level.
Company:
it is used for that business that is handled with the help of a group of people not a single one. it also worked with industries and international businesses.
Registration with GPO
it is not compulsory firm registration with GPO but it is necessary to secure your mail post parcel delivery or other correspondences. it is also a source for your customers who want to visit your firm, to find easily your firm with the help of the post office postal address.
Opening the Current Account with Bank
it is necessary for firm registration to open an account with such a bank that deals in foreign exchange because when you make imports and export with any country in the world that deals with you in your own currency then this bank can support your business. you receive the amount in your own currency.
Getting a National Tax Number certificate (NTN)
it is most necessary for firm registration to get NTN because without it you don’t Keep to start your business with foreign countries, so it is a very important certificate. for the attainment of the national tax number, it is available online or by visiting your local FBR office.
we will learn this in any other post or video on how to get your certificate of NTN.
Registration in Sialkot Chamber of Commerce and Industries
it is also very important to get membership in SCCI but not compulsory for import or export purposes. it functions like GPO because there are only two ways to select the name and its registration of the firm. it only helps us as it is confirmed that our firm’s name is not registered because everyone tries to check the availability of the name before starting the business in the SCCI.
when they satisfy the selected name does not exist before it so in this respect we try to register it with the SCCI so that nobody else can register our selected name after it.
To Register with Sales Tax Office
it is also necessary if we registered in this office then we have been given a commission in electricity bills, telephone bills, Sui gas bills or any other local bills like purchasing goods of any kind relating to the business or import /export Although, we have registered in Income Tax Office.
Ok so now we will quick answer for firm registration:
Firm Registration method of Proprietorship
- Select the name of the firm
- Get registration with GPO
- Open the current account with a bank that deals in foreign exchange
- Received NTN certificate from the income tax office with the name of the firm
- Register the firm with SCCI
- Register the firm with the sale tax
Firm Registration method of Partnership
- Select the name of the firm
- Write the partnership deed and registered it with the registrar’s office on the stamp paper value of rupees 500
- Firm Registration with GPO
- Open the current account with the name of the firm according to the proprietorship method
- Get national tax number certificates of the firm as well as the partners of the firm
- Registered the firm with scci Sialkot
- Registered the firm with the sales tax office
The Registration method of the Private Limited Company
- Select the name of the company
- Write the memorandum of association and article of association on simple paper not on a stamp paper
- Registered the company with GPO
- Open the current account with the name of the company according to the partnership or proprietorship method
- Get the national tax number of the company as well as the directors of the company
- Registered your company with Sale Tax office
