Most of the businesses across the globe have become digital. This means that the number of businesses across the world is rapidly growing. In Pakistan, many young individuals are showing interest every day in starting their own business. However, as easy as it may seem, many seem to struggle with the business registration process. The great news is that we have gathered all the details about how to register a business with FBR as a sole owner.
Register a Business as Sole Owner
If you are planning to start your own business any time soon, you can save yourself from the struggles of relying on agents. It is vitally important to understand the process of registering your company with FBR as the sole owner.
By learning the process, you can not only save your time but also save a lot of money. We understand that time is money. Here, we have compiled a step-by-step guide to register a business with FBR as the sole owner.
Steps to Register a Business with FBR
Select Business Name
Whether registered or not, your business needs to have a business identity name. Think of a good name that fits with your motive and make business cards. You may also need to make official stamps for your company.
Register It
Go to the SECP website to register Business name:
https://www.secp.gov.pk/eservices/eservies-company-name-reservation/
- Signup and Log on to eServices Portal
- Select Fast Track Registration Services if you want urgent processing
- Enter data in the online form
- Submit the process.
- Take Print out of the Fee Challan of PKR 200/- or PKR 700/- for FTRS and deposit in the selected branch of MCB bank or UBL, or make payment through credit card.
NTN Number
Once you are done with finalizing the name of your business, you need to register for the NTN number. For this, you need to visit the FBR website and choose e-registration.
Here is the link to the website:
https://e.fbr.gov.pk/registration/NewRegistration.aspx
Required Documents
To register, you need to have the following data with you.
- Original CNIC;
- Cell phone with SIM registered against your own CNIC
- The personal email address of the sole owner
- Original certificate of maintenance of personal bank account in his own name;
- Original evidence of tenancy/ownership of the business premises, if having a business;
- Original paid utility bill of business premises not older than 3 months, if having a business.
Once you are done with e-registration, you will get a confirmation email with your username and password details. You can use these to log in and complete your e-enrollment. Remember, your business name on the NTN number form and your bank account title must be identical.
