Consolidated Chart for Types of Company

Form of Enterprises	Sole Trader/Proprietor or Business Individual	Partnership Firm	Limited Liability Partnership	Prvated Limtied Company	Public Limtied Comapany	Not for Profit Organization	Liaison/Branch Office
Seperate Legal Entity	No	No	Yes	Yes	Yes	Yes	Yes
Number of Owners/Shareholders/Subscribers	Only 1 person	Atleast 2 poeple or enterprises	Atleast 2 poeple or enterprises	Atleast 1 poeple or enterprises	Atleast 3 poeple or enterprises	Atleast 7 procreators	There is no specific requirements
Representatives	Business individual	The partners	The partners	The Board of directors	The Board of directors	The Board of directors	Liaison/ branch office
Capital Requirements	No	Yes	Yes	Yes	Yes	Yes	Yes
Registration Provider	Pakistan Tax Department of District	Local registrar of District	Securities and exchange commission of Pakistan	Securities and exchange commission of Pakistan	Securities and exchange commission of Pakistan	Securities and exchange commission of Pakistan	Board of Investment
Compliance level	Low	Medium	Medium	Medium/High	High	High	Low
Time for incorporation	1 day	2 - working days depends upon the registrar	2 working days after name reservation	2 working days after name reservation	2 working days after name reservation	Depends on the working	6-8 weeks
Legal cost	Zero	Up to Rs 3,500	Rs 1,000 for Capital of Rs 100,000 and Rs 500 for every additional Rs 100,000 rupees capital	Rs 1,000 for Capital of RS 100,000 and RS 500 for every additional Rs 100,000 rupees capital	Rs 1,000 for Capital of RS 100,000 and RS 500 for every additional 100,000 rupees capital	Application fee: Rs 15,000 Registration Fee: Rs 25,000.	Regular permission (initial registration : USD 2000 for a period of one year Renewal charges for each year = USD 500
Liability
Partners/Owners liability	Business individual is personally liable for agreements entered	Unlimited: the partnership as well as partners collectively	Limited: up to the extent of the share capital	Limited: up to the extent of the share capital	Limited: up to the extent of the share capital	Promoters are liable	Not applicable.
	into and for the debts of the enterprises	of individually liable for each other acts and debts	Up to the extent of business or partners who is engaged in a particular activity	Up to the extent of entity, Company is liable	Up to the extent of entity, Company is liable	Not applicable.	Liaison / Branch office
Protection
Name protection	Not applicable anyone can use same name.	Registrar of the firms cannot allow name to another business.	Registrar of SECP cannot allow came name to another business. even phonetic words cannot be allowed				Not available
Title protection	To get protection of title, registration with intellectual Property Office as Trade Mark is required
Taxation
Form of Taxation	Slab Rates	Slab Rates	Slab Rates	Small Company:25% Other Than small company: 29%	29%	Except if approved by tax department	Not Applicable as comm activity is not allowed
Applicable Taxes	The business individual is taxed for the profits only unless turnover exceeds 10 million rupees. In case exceed of total turnover is payable.	Partnership firm is taxed for the profits only unless turnover exceeds 10 million rupees. In case exceed 1.25% of total turnover is payable. While partner are not taxed separately	Partnership firm is taxed for the profits only unless turnover exceeds 10 million rupees. In case exceed 1.25% of total turnover is payable. While partner are not taxed separately	The company is taxed at higher of a) Taxable increase above given rates b) Turnover 0@ 1.25% c) Profits @ 17% Shareholders are taxed at 15% on dividends	The company is taxed at higher of a) Taxable income @ 30% b) Turnover @1.25% c) Profit @ 17% Shareholder are taxed at 15% on dividends.	If approved than zero otherwise taxation of private limited be applicable	N/A
Actual requirements
Income Tax Return Filling	yes	yes	yes	yes	yes	yes	no
Audit of Accounts	Not compulsory	Not compulsory	If capital exceeds 1 million rupees	If capital exceeds 1 million rupees	Compulsory	Compulsory	no
Return filling with regulator	no	no	Compulsory	Compulsory	Compulsory	Compulsory	On Demand
Return filling with regulator	no	no	Compulsory	Compulsory	Compulsory	Compulsory	On Demand
Statutory Meeting	No	No	Yes	Yes	Yes, at least once in each quarter of a year	Yes	No