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Formation of Single Member Company:

One person may form a single member limited liability company with all features of Private Limited Company but with Single Owner.

Key feature

Ø  The financial liabilities of shareholder are limited to the extent of his /her capital.              

Ø  Easy to transfer ownership from one person to another.                                             

Ø  Customers, vendors, etc generally rate companies higher than other types of businesses.   

Ø  The directors can draw a salary from his own business which reduces net income and accordingly tax liability of the Company.                                                                                            

Ø  Comparatively more legal compliances as compared to Partnership and Proprietorship.

Ø  Details of Authorized Capital and Paid-Up Capital

 

List of requirements 

·        A suitable name of business

·        Copy of CNIC/NICOP/Passport/POC of the single owner

·        Copy of CNIC/NICOP/Passport/POC of the nominee

·        Cell registered in name of the owner

·        Email of the owner

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