Sole Proprietorship
If you are considering a Sole Proprietorship, the company registration will be handled through the Federal Board of Revenue (FBR). A sole proprietorship is a business owned and operated by one person, with no distinction between the owner and the business. The owner is fully responsible for the business’s debts, losses, liabilities, and profits.
Association of Persons (AOP)
If there are between one and twenty individuals, the company will be registered as a General Partnership or Association of Persons with the city’s Registrar of Firms. A general partnership can have one or two types of owners. These partnerships are easy to set up and cost-effective, as they don’t require complicated paperwork. The business will need a bank account, a registered trade name, and a registered tax number.