In Pakistan, any person or persons wishing to form a private company must adhere to the stipulations set forth in the Companies Act, 2017. Specifically, two or more persons associated for any lawful purpose may form a private company by subscribing their names to a memorandum of association and complying with the requirements of the Act in respect of registration. This process includes the preparation and submission of necessary documents, such as the memorandum and articles of association, to the Registrar of Companies.
The relevant section of the Companies Act, 2017, states:
“Any— (a) three or more persons associated for any lawful purpose may, by subscribing their names to a memorandum of association and complying with the requirements of this Act in respect of registration, form a public company; or (b) two or more persons so associated may in the like manner form a private company; or (c) one person may form a single member company by complying with the requirements in respect of registration of a private company and such other requirements as may be specified.” .
Thus, the formation of a private company in Pakistan requires at least two individuals who fulfill the legal requirements and complete the registration process as prescribed by the Companies Act, 2017.