The Securities and Exchange Commission of Pakistan (SECP) is the regulatory body for the securities market in Pakistan. The SECP regulates the formation, operation, and winding up of companies in Pakistan.
One of the requirements for registering a company with the SECP is that the company must have a minimum number of members or directors. The number of members or directors required varies depending on the type of company.
Types of Companies
There are three main types of companies in Pakistan: private limited companies and public limited companies.
- Single Member Private Limited Companies: A single private limited company is a company that is limited by shares and is not allowed to offer its shares to the public. The minimum number of members for a private limited company is one.
- Private Limited Companies: A private limited company is a company that is limited by shares and is not allowed to offer its shares to the public. The minimum number of members for a private limited company is two.
- Public Limited Companies: A public limited company is a company that is limited by shares and is allowed to offer its shares to the public. The minimum number of directors for a public limited company is three.
How to Register a Company with the SECP
To register a company with the SECP, you must complete the following steps:
- Apply for a company name.
- Prepare the Memorandum of Association (MoA) and Articles of Association (AoA).
- File the MoA and AoA with the SECP.
- Pay the registration fee.
- Obtain a Certificate of Incorporation from the SECP.
Conclusion
The minimum number of members or directors required for company registration with the SECP varies depending on the type of company. For a private limited company, the minimum number of members is two, and for a public limited company, the minimum number of directors is three.
