Formation of Business
Formation of Business is an initial step in starting any business. It has been observed that entrepreneurs must juggle countless tasks and competing priorities well before they open office, including the creation of a legal structure. Business formation is a necessary early step when starting a business, whether you’re registering a simple proprietary concern, incorporating or forming a partnership.
The way in which your business is formed will determine the personal liability of the founders, how taxes will have to be paid, and other important details. For example, a sole proprietor typically makes decisions on her or his own, while a partner in a partnership must get approval from all other partners prior to making major decisions for the firm/company.
The main business legal structures are:
- Sole Proprietorship
- Single Member Company-SMC
- Private Limited Company
- Public Limited Company ( Listed/ Unlisted )
- Company Limited by Guarantee
- Non-profit Organization under section 42 of Companies Act, 2017
- Non-Banking Finance Company
- Trade Organization
- Joint Venture company
- Liaison /Branch Office
- Foreign Company
Our expert team will help you to get started with the process of creating a legal structure for your new business either compliance’s are obligatory with Federal Board of Revenue, Registrar of firms, Securities & Exchange Commission of Pakistan etc.