Following types of business registrations are available in Pakistan:
Sole Proprietor
Partnership Firm
1. Sole Proprietor: The sole proprietorship is a form of the business which an individual can operate and it does not represent any legal entity. It owns by one person who is personally liable for its debts. A sole proprietorship can do operation under the name of its owner or it can have an alternate name such as 'Amir Property Consultant'. An alternate name is only a trade name and it does not reflect any legal entity which is separate from the business owner. sole proprietorship registration is done through FBR (Federal Board of Revenue) in Pakistan and normally it takes a day only to get it registered.
2. Partnership Firm: A partnership is a type of business where a formal arrangement is made between two or more parties to jointly manage and operate their business while sharing the profits as per the agreed terms. In a partnership mode of business, partners are individually or collectively responsible for all the business debts. Partnership is registered by the Local Registrar of District in Pakistan and it normally takes up to 2 - 7 days to get it registered.
Read more
