Change of company status
Convert an SMC to a private company, or a private company to public and back, with SECP approval.
Overview
Changing your company's status: a single member company becoming a private company, a private company going public, or a public company going private.
Why it matters
As a business grows, the company form may need to change: private to public, single member to private, or the reverse. Conversion keeps your company's history, contracts and NTN while updating its legal status.
Who needs this
- SMCs bringing in a partner or investor
- Private companies preparing to raise public capital
How it works
Who does each step, and how long it usually takes once documents are complete.
- 1ReviewTAXWORK
Members, directors and articles checked for the new status.
1–2 days - 2ResolutionsYou
Special resolution and amended articles.
1 day - 3FilingTAXWORK
Application and forms filed with SECP.
1–2 days - 4ApprovalSECP
Status changed on the register.
Usually 2–4 weeks
Documents we need
Tick what you already have, then send the list to us.
Which company type fits you?
Under the Companies Act 2017 (sections 2(49), 14, 42, 154 and 247) and the LLP Act 2017.
| Type | Members | Directors | Liability | Auditor | Best for |
|---|---|---|---|---|---|
| Single member company | 1 | 1 + nominee | Limited by shares | CMA or CA if paid-up capital under Rs 3M | Solo founders |
| Private limited | 2 to 50 | 2 | Limited by shares | CMA or CA if paid-up capital under Rs 3M | Startups and family businesses |
| Public (unlisted) | 3 or more | 3 | Limited by shares | Chartered accountant | Raising capital from many investors |
| Listed company | 3 or more | 7 | Limited by shares | Chartered accountant | Public share trading on PSX |
| Limited by guarantee | Members | 2 or 3 | Up to the guarantee | As per company type | Associations and clubs |
| Section 42 NPO | 3 or more | As per type | Licensed, no profit distribution | Chartered accountant | Charities and foundations |
| LLP | 2 or more partners | Designated partners | Limited for partners | As required | Professional firms, joint ventures |
| Foreign branch / liaison | Foreign parent | Authorised person | Parent's liability | Chartered accountant | Foreign companies entering Pakistan |
What you receive
- Amended articles
- SECP approval
- Updated registers
Deadlines, risks and penalties
- Below-minimum members for more than 180 days makes members liable for debts (s.15)
Mistakes we fix, and what our fee covers
Common mistakes we fix
- Annual return (Form A / Form 29) filed late, which brings SECP penalties
- Change of directors, shares or address not reported to SECP
- Company NTN and tax return not filed even when there is no income
- Beneficial ownership register not kept up to date
Included in our fee
- Name check, documents and filings on SECP eServices
- Board and shareholder resolutions drafted for you
- Company NTN and FBR profile set up or updated
- A compliance calendar for the year ahead
Law and references
The sections and rules this service is based on.
- Companies Act 2017, s.46 – public to private and vice versa
- s.47 – private company to SMC and vice versa
- s.14(1)(c) – an SMC with more than one heir must convert
Questions
How long does it take?
About 3–6 weeks. Step by step: Review (1–2 days), Resolutions (1 day), Filing (1–2 days), Approval (Usually 2–4 weeks).
What does it cost?
We give a fixed quote after reviewing your case. Government fees are extra where they apply.
What happens if I miss a deadline?
Below-minimum members for more than 180 days makes members liable for debts (s.15).
What if an SMC owner dies?
The nominee transfers shares to the heirs; if there's more than one heir, the company must convert to a private company.
Does the company number change?
No. The company stays the same legal entity; only its status and documents change.
Do we need shareholder approval?
Yes. A special resolution is normally required. We draft it for you.
Why clients choose TAXWORK
Individuals, businesses and companies across Pakistan and overseas.
Rawalpindi/Islamabad, Sialkot and Karachi (with Raza Siddiqui & Co., Chartered Accountants).
You get the scope and a fixed fee in writing before any work starts.
Progress updates, and a copy of everything we file or submit for you.
Keep reading
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View service →Ready to get change of company status done?
Send your documents on WhatsApp or book a meeting. A consultant confirms the scope and a fixed fee before any work starts.