Friday, December 20, 2013

Big Blast: Merger of Elance and oDesk

Elance & oDesk Merger

Fabio Rosati, CEO of Elance wrote that, Elance and oDesk have signed an agreement to merge with each other.  This is clearly big news, and I wanted to give you my perspective on what it means for you and why we decided to do it.

First, I want to make sure that you know that we plan to continue to operate two separate platforms at and, respectively.

As for why we made the decision to merge, our motivation is pretty simple—we want to deliver you the best online freelancing experience possible. We plan to do this by making significant investments in technology, including tools for a more effective job search, seamless online collaboration and improved mobile accessibility. Also, with deeper expertise in data science, you will benefit from improved personalization and user experience.  Please do note that the merger is still subject to the satisfaction of certain closing conditions, and we expect it to close in the next four months or so.

I understand that this is a big change and you may have additional questions. Please visit the most Frequently Asked Questions on our website. And if you have suggestions on how we can make our service even better, please send me an email directly at

Finally, thank you for trusting Elance with your freelancing career. We look forward to providing you with more opportunities to work differently.

Warm Regards,

Fabio Rosati
CEO, Elance

Saturday, August 31, 2013

About Single Member Company

There is often much confusion and misinformation (usually disseminated  by the local bar stool expert) as to what type of entity a Single Member Company actually is. Let's clear it up then!
Single Member

A Single Member Private Limited Company does not, first and foremost ,mean that the company can have only one director!

A member is a shareholder or in effect a company owner. In many small companies the company members i.e. shareholders may indeed be one and the same as the company directors.

A Single Member Company is therefore no different from any other private limited company other than the fact that the entire issued share capital is held or owned by one single/sole person i.e the single member hence, the designation "single member company".

Single Member Company Registration - Law and Procedure in Pakistan

Single Member Company Registration - Law and Procedure in Pakistan

Frequently Asked Questions on Single Member Company in Pakistan:

Q. Can Single Member Company be converted into private company?
A. Yes, a single member company can be converted into a private company on increase of the number of its members/directors to more than one. A private company having two or more members can become a single member company by passing a special resolution for change of its status and by making necessary alteration in its articles and obtaining approval from the Securities & Exchange Commission of Pakistan.

Register Your Company In Pakistan - Requirements and Procedure

Company Registration in Pakistan - Requirements and Procedure:

Registration of a Private Limited Company, Single Member Company, Pubic Limited Company in Pakistan:
This brief overview explains, in very general terms, the procedure and requirements for registration of a company in Pakistan. These brief notes are for general guidance only and should not be taken as a substitute for thorough and professional legal advice.

Types and Forms of Companies which may be Registered in Pakistan:
The following types of companies may be registered in Pakistan:
  • A private limited company, which may be a single member company
  • A public limited company, which may be listed or unlisted
  • A foreign company

Advantages And Disadvantages of a Company in Pakistan

We wrote article on “how to register a private limited company in Pakistan” and a large number of people has sent us emails and requested to explain the major advantages and disadvantages of company formation in Pakistan.

In Pakistan, people generally think that if they will form a private limited company their business will grow exponentially. It is not true. You should assess your business first and decide whether it is time to convert it to a company or not . No doubt, registration of company is necessary if you have plan to provide Hajj & Umrah Services or banking services etc. but if you have just started your business then my advice is to establish your business first and then go for company formation.

Company Registration in Pakistan – How to Register a Private Limited Company in Pakistan

It is very easy to set up a private limited company in Pakistan; however, people generally don’t know registration procedure. There are large numbers of law firms working in the country to provide consultancy for incorporation but it is always good to have little knowledge about processes involved in registration.

In Pakistan, private limited companies are incorporated and regulated by the Companies Ordinance, 1984 while Securities and Exchange Commissioner of Pakistan (SECP) is a regulatory authority established for regulation of stock markets and the Companies ordinance, 1984.  One of the important functions of the Commission is the registration/incorporation of public and private limited companies. Therefore, people who want to get their private limited companies registered are supposed to apply to the commission. The commission issues incorporation certificate when all requirements are met by promoter(s) as per law.

How to Register a Company in Pakistan?

Company registration in pakistan remains the most favored form of business organizations in Pakistan. Incorporation of a company really helps boost up business for medium as well as large-scale business enterprises. Legal regime for establishment and regulation of companies in Pakistan is given in the Companies Ordinance, 1984. 

Whereas the function of administration of these companies is vested in the Securities and Exchange Commission of Pakistan and the Registrar of Companies appointed by the Securities and Exchange Commission of Pakistan for a Province of Pakistan where such company is to be registered.

Starting a Business in Pakistan - Doing Business In Pakistan

Below is a detailed summary of the bureaucratic and legal hurdles faced by entrepreneurs wishing to incorporate and register a new firm in Pakistan. It examines the procedures, time and cost involved in launching a commercial or industrial firm with up to 50 employees and start-up capital of 10 times the economy's per-capita gross national income.

This information was collected as part of the Doing Business project, which measures and compares regulations relevant to the life cycle of a small- to medium-sized domestic business in 185 economies. The most recent round of data collection was completed in June 2012