How To Search Company Name (SECP) Online?
Thinking to start a business in Pakistan? First step is always to name business venture. The adoption of legal form of business entity can be decided by analyzing the objectives and various considerations i.e. nature of the business, scale of business investment, regulatory requirements, and taxation, etc.
Legal forms of business are Sole proprietorship (Individual), Partnership firm and Company.
Individual business is a type of business that a single person runs. It can be a small scale business, like a grocery shop, a barbershop, etc. Only tax registration is required for such business.
Partnership business is a type of business that is run by two or more individuals. All the partners of the group will have an agreed amount of share in it. Tax registration is required.
Limited/Private Limited Company/ Single Member Company has different shareholders. The company is run by the share capital that shareholders put into it. In this type of business, all the stockholders have limited liability. this type of company is registered in SECP (Securities & Exchange Commission f Pakistan).The stakeholder’s liability depends on the number of shares they hold. They can only increase their liability by holding more shares of the company. And there will be no need to pay for any losses beyond the price of shares any member has.
Now when you run your mind to figuring out the best company name for your business, the chances are that your chosen company name is already registered officially. So before you finalize it, you must consider that if the company name is available to register with SECP or not. Is it always necessary to check the availability of company name for all types of businesses? Well, the answer is “no.” Every business doesn’t need an official name as every business doesn’t register with SECP.
Checking the business name availability of individual and partnership-based based business
If your business is an individual type or partnership-based, you don’t necessarily have to check for the business name availability. That means that you can still register the same company name if your name matches the already existing business. But it would be best if you always were on the safe side. Therefore it is always recommended that you must search the company name availability. If you find it similar, just make a little change in it. In this way, it will become easier for the customers to search for it.
Checking the business name availability of private limited company
Private limited companies need to give their company a name that should not be registered earlier. Therefore, you should always search for the company name availability on the Security and Exchange Commission of Pakistan’s official website. Searching the company name on SECP click below
Company Name Search | SECP “search company name”. If the company name has not been registered before, the result will show “no result found”. It shows that you can register this company name.
If the company name already exists or there are any similar names, the result will show that company’s name. That shows you can not register the desired name. Now you will have to think of any other name.
This little effort will save your time in further proceedings of registration of your company. So make sure to do the right thing at the first step.