With over 200 million inhabitants, Pakistan is the second most populous Islamic country after Indonesia. Located in South Asia, the country borders China, India, Afghanistan, and Iran and is also a member of the UN, the World Trade Organization, and the Organization for Economic Cooperation. The capital is Islamabad has about a million inhabitants, while the largest city of Karachi has about 15 million inhabitants. Pakistan has been growing in GDP for years, while in 2022, it is expected to grow by 4% in GDP.
Disclaimer: Be aware that this article is not a substitute for legal advice. Please always check official websites or seek legal advice before you take action.
Sole proprietorship in Pakistan
The easiest way to open your business in Pakistan is as a sole proprietor. About 80% of businesses in Pakistan open as sole proprietorships due to the ease of the process. Business opportunities and economic growth are contributing to a large number of people from abroad opening sole proprietorships in Pakistan.
If you seek business opportunities in Pakistan, this article will make the registration process easier for you.
How to register a sole proprietorship in Pakistan
The registration process of a sole proprietorship has several steps:
- Registration of a unique business name
- Making a business stamp (cost around 500 Rs)
- National Tax Number registration (NTN)
- Creation of a dedicated bank account
The document proving your business's establishment, and the only document you will receive is the NTN containing all your data.
Business name registration in Pakistan
Before you decide on the business name, you can check its availability online through the eService portal. After reviewing the name's availability, you can make a reservation of the name on the same website. All you need to do is to create an account and complete the reservation with your ID, telephone, address, and email information.