How to Register Private Security Companies in Pakistan
This article will guide you on How to Register Private Security Companies in Pakistan, you need to follow the following steps: –
Overview of Company Formation in Pakistan
Any three or more persons associated for lawful purpose may, be subscribing their names to the Memorandum of Association and complying with the requirements of the Companies Act,2017 (the “Act”) form a public company and any two or more persons so associated may, in like manner, form a private company. If only one member forms a private company, it is called a single member company
Name Reservation
In order to register Private Security Company in Pakistan first you need to reserve name by providing 3 company name options as a standard procedure.
The process of name reservation and company incorporation is end-to-end digitized. It comprises only four (04) simple user-friendly steps. The promoters guide is designed to have a deep and comprehensive insight into the process of name reservation and company incorporation, in the light of the relevant provisions of the Act and the Regulations.
First step towards incorporation of a company is to submit a combined or a separate application for the reservation of company’s name and incorporation either through eZfile or in physical form as per the formats provided in the Companies Regulations, 2024 (the” Regulations”).
No Objection Certificate (NOC)
After securing the company name the next step is to get NOC from Ministry of Interior to open and operate Private Security Company. The application for this NOC consists of company name reservation, list of Security Guards, their profiles, bio data, affidavit of no conviction, list of weapons etc.
Authorized Share Capital
The incorporation of a Private Security Company the minimum Authorized Capital limit is 10 Million and below this amount the Private Security Company will not be registered.
Retired Forces Official
To register Private Security Company there is a crucial condition that its Director shall be a retired officer from the Armed Forces or Security Agencies.
License with the Ministry of Interior
After incorporation the management of Private Security Company will apply with Ministry of Interior via Form A for which fee is 10,000 and Form B 25,000 with Punjab Government under Punjab The Punjab Private Security Companies (Regulation and Control) Ordinance, 2002
Duration of Total Process
The registration and approval of Private Security Company takes 3-4 months to get the NOC whereas the process with SECP takes a week. After the NOC from Ministry of Interior along with supporting documents will be submitted with SECP.
Other Regulatory Requirements
After getting all approvals the Private Security Company must register their employees/ guards with EOBI and Social Security.
Here’s the summary of steps in this Blog
- Name Reservation of Company
- No Objection Certificate (NOC) from Ministry of Interior
- Authorized Capital at least 10 Million and above
- At least One director should retired from armed forces and security agencies
- Details of security Guards, Weapons, List of employees
- Employees Bio-Data, Experience, EOBI, Social Security Registrations
- Complete Statutory Forms for Security Company
- Transcript
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