Asia, the largest continent in the world, is home to some of the largest economies in the world, among which China and India. Divided into several parts, in Southeast Asia one will find small countries like Malaysia and Singapore, while at the cross-roads of Central and Western Asia lies one of the largest countries: Pakistan. Singapore and Pakistan have good trading relations and foreign investors have plenty of industries to choose from when deciding where to open a company.
Below we have prepared a comparison on the company formation process in Singapore and Pakistan. We would also like to mention that if you are interested in opening a company in Singapore, our local consultants can assist you.
Opening a company in Pakistan
Foreign investors having to choose between company registration in Singapore and starting a business in Pakistan must take into consideration the following recommendations on Pakistan:
- – the company formation process implies 5 main steps;
- – the company name must be chosen carefully and approval must be obtained before registering the company;
- – the type of company must also be selected with attention.
The company registration procedure in Pakistan consists in:
- – reserving the company name with the Securities and Exchange Commission of Pakistan (SECP);
- – filing the documents required by the SECP with the Companies Registration Office;
- – registering the digital signature;
- – paying the incorporation fees;
- – obtaining the Certificate of Incorporation.
Compared to Singapore company formation, in the case of Pakistan attention must be paid to the documents filed with the Companies Register, as apart from the statutory documents, several forms must be completed. Our local agents can assist with the drafting of the documents related to company formation in Singapore.
Company registration in Singapore
When opening a Singapore company, the procedure is far less complicated, as once the company name reservation is completed and the memorandum and articles of association are ready, foreign investors must only have prepared copies of their and the director’s IDs and file them with ACRA. The company formation process also implies tax registration in Singapore, so the two steps are completed at once. Once the company is registered, it will apply for the licenses required to start doing business, a step which is also needed when establishing a company in Pakistan.
For assistance in opening a company in the city-state, please feel free to contact our Singapore company formation experts. We can also offer information on the double tax treaty between Singapore and Pakistan.