Registration of IT Company in Lahore, Pakistan
Information technology or IT is an essential part of every organization to ensure the smooth functioning of all departments like human resources, finance, manufacturing, and security. Almost every company require software and hardware to fulfill their operations requirements which arise from time to time. Manufacturing and production companies always need IT and Software products to compete with the errors or mistakes which restrict companies from getting the proper functioning of their equipment.
Information Technology changes according to the requirements of peoples and organizations, which plays a significant role in maintaining the present and future needs in Lahore and all over Pakistan. Some conventional technologies which have an impact on our life are Technical support, Computer Programming, software development, Web Development, Computer System Analysis, IT Security, Network Engineering, Content management, Transaction Processing, Process Automation, Business Automation, Mobile Communication, Data mining, E-commerce, etc
Pakistan is one of those countries which are exporting IT services to different countries and cities like Lahore, Karachi and Islamabad are playing an essential role in the generation of foreign revenue. At present, high demand for IT Companies and IT Professionals arises the awareness of information technology all over the world, which has become helpful to fulfill the gap of unemployment in Pakistan. Due to the high demand for Information Technology every year, IT Company Registration in Pakistan is increasing.
Tax Exemption for IT Companies in Pakistan
Income derived from exports of Information Technology is exempt up to the period of 30 June 2025 with the condition that revenue collection from the export of IT Services would be in Foreign Exchange remitted from other countries through normal banking channels in Pakistan. Income derived from IT Company Services provided in the Domestic market is taxable.
Registration of IT Company with SECP under Companies Act, 2017
First Step: Name Availability Application to get your Company name reserved.
Second Step: Drafting Memorandum of Association and Articles of Association and fill out Form II (Application for Incorporation of Company)
Third Step: Deposit of Fee Challan in designated branches of nominated banks.
Fourth Step: Receiving of Incorporation Certificate after satisfying all legal formalities of SECP
Registration with Pakistan Software Export Board (PSEB)
PSEB’s is working support and growth of the IT industry of Pakistan in the local and international market and trying to make Pakistan the second most significant place in IT exports in South Asia.
Registration with PSEB is compulsory to attain the benefits of Tax exemption from the Income Tax Department. The following information required for registration with PSEB
- A registration form completed in all aspects
- Company Profile
- Fee for Registration
- Visiting Cards of Members
- Company NTN
- CNIC Copies of all Directors/Shareholders/Partners
- Copy of Passport in case of Foreign Directors/Shareholders/Partners
- Attested Copy of Incorporation Certificate (SECP)
- Certified copy of Memorandum and Articles of Association (SECP)
- Attested copy of Partnership deed (In case of Partnership Firm Registered under Partnership Act 1932)
- Attested copy of Firm registration certificate (Form C) in case of Partnership Firm Registered under Partnership Act 1932
- Bank Statement of Business for the last six preceding months
- Bank Account Maintenance Letter (In case of a new account)