Reservation of company name is first step of company incorporation, several steps are required to reserve name for a company.
How to Reserve Company Name
One, who desires to get registered a company, should first select a company name. A name relating to principal business activity is highly recommended but any name can be chosen as company name. Words of other languages, such as Arabic, Persian, Spanish, can also be chosen as name of company, but relevance is required.
Selection of Name
The selected name should not be identical to the name of any other company which has already registered. The proposed company name should be matched against the below mentioned criteria, which is described in section 10 of Companies Ordinance, 1984.
Prohibition of certain names. There are certain names that should be avoided while searching/selecting business names list of these names is given below.
(a) Identical with or resemble too nearly to the name of a company; or
(b) Inappropriate; or
(c) Undesirable; or
(d) Deceptive; or
(e) Designed to exploit or offend religious susceptibilities of the people; or
(f) Any other ground as may be specified.
Application for Name Availability
After selecting name of company use E-services portal of SECP to search the availability of name
Company can be incorporated through online process as well as manually
If one desirous to form company online one should reserve the name by creating account on SECP e-services portal.
For manual incorporation one should file an application on “Name Availability Form” available in SECP offices.
Payment of Fees
After selecting name and filing application, submit the fee in designed branches of MCB or UBL and submit the Name Availability Form along with original bank receipts to registrar office.
Registrar office will send you “Name Reservation Letter” to your mentioned address after thoroughly checking the criteria.
Company Name is reserved for ninety days (90). After the laps of ninety day, your reserved name will automatically be expired.