As per Lawkidunya, In Pakistan, Association of Persons (AOP) is a popular form of business registration, especially among small and medium-sized businesses. The AOP company registration process in Pakistan is relatively simple and straightforward, but it requires careful planning and execution. In this article, we will provide a comprehensive guide to the AOP company registration process in Pakistan, including the required documents, procedures, and timelines.
Step 1: Obtain a National Tax Number (NTN)
The first step in the AOP company registration process is to obtain a National Tax Number (NTN) from the Federal Board of Revenue (FBR). The NTN is a unique identifier assigned to each taxpayer in Pakistan, and it is required for all business transactions.
To obtain an NTN, the applicant must submit the following documents:
– Application form for NTN registration
– Copy of Computerized National Identity Card (CNIC)
– Copy of passport (if applicable)
– Proof of business address
Step 2: Prepare a Partnership Deed
The next step is to prepare a partnership deed, which outlines the terms and conditions of the partnership, including the roles and responsibilities of each partner, the profit-sharing ratio, and the duration of the partnership.
The partnership deed must be signed by all partners and must include the following information:
– Names and addresses of all partners
– Business name and address
– Purpose and scope of the business
– Profit-sharing ratio
– Roles and responsibilities of each partner
– Duration of the partnership
Step 3: Register with the Registrar of Firms
After preparing the partnership deed, the next step is to register the AOP with the Registrar of Firms in the province where the business is located.
To register with the Registrar of Firms, the applicant must submit the following documents:
– Partnership deed
– Application form for registration
– Copy of NTN certificate
– Copy of CNIC of all partners
– Proof of business address
Step 4: Obtain a Certificate of Registration
After registering with the Registrar of Firms, the applicant will receive a certificate of registration, which is proof of the AOP’s registration.
Step 5: Obtain a Sales Tax Registration Number
If the AOP is engaged in a taxable activity, it must obtain a sales tax registration number from the Federal Board of Revenue (FBR).
To obtain a sales tax registration number, the applicant must submit the following documents:
– Application form for sales tax registration
– Copy of NTN certificate
– Copy of CNIC of all partners
– Proof of business address
Step 6: Obtain a Professional Tax Registration Certificate
If the AOP is engaged in a profession or trade, it must obtain a professional tax registration certificate from the provincial government.
To obtain a professional tax registration certificate, the applicant must submit the following documents:
– Application form for professional tax registration
– Copy of NTN certificate
– Copy of CNIC of all partners
– Proof of business address
Timeline For AOP Company Registration Process
The timeline for the AOP company registration process in Pakistan is as follows:
– Obtaining an NTN: 1-2 weeks
– Preparing a partnership deed: 1-2 weeks
– Registering with the Registrar of Firms: 2-4 weeks
– Obtaining a certificate of registration: 1-2 weeks
– Obtaining a sales tax registration number: 2-4 weeks
– Obtaining a professional tax registration certificate: 2-4 weeks
Total timeline: 10-20 weeks
Conclusion
In conclusion, the AOP company registration process in Pakistan is a relatively simple and straightforward process that requires careful planning and execution. By following the steps outlined in this article, businesses can obtain the necessary registrations and certifications to operate legally in Pakistan. It is essential to consult with a lawyer or accountant to ensure compliance with all relevant laws and regulations.
Frequently Asked Questions
1. What is the difference between an AOP and a Private Limited Company?
An AOP is a type of business registration that is suitable for small and medium-sized businesses, while a Private Limited Company is suitable for medium and large-sized businesses.
2. What are the advantages of registering an AOP?
The advantages of registering an AOP include flexibility, low cost, and simplicity.
3. What are the required documents for AOP registration?
The required documents for AOP registration include a partnership deed, application form for registration, copy of NTN certificate, copy of CNIC of all partners, and proof of business address.
4. How long does it take to register an AOP?
The timeline for AOP registration is 10-20 weeks.