Corporate Escrow Services Karachi Pakistan

Corporate Escrow Services Karachi Pakistan

For corporate Escrow Services in Karachi, When you need a neutral third party to act as a temporary agent in financial transactions, look to Irfan Mir Halepota & Associates Law Firm in Karachi Pakistan to provide you with the professional expertise and resources required to deliver complete escrow services.

Why use Escrow Services?
In a market filled with uncertainties, escrow agreements are an easily acceptable and versatile tool for assuring the safe, fair and efficient completion of a variety of transactions. An escrow agent will hold assets and oversee distribution of funds so conditions of an escrow agreement can be met.

A Wide Range of Transactions
Our full range of integrated escrow services includes: document review, payment and disbursement services, wire transfer and deposit services, and detailed activity and asset reporting for all parties.

We handle the following types of escrows:

  • Indemnification
  • Contractor Retention/Construction
  • Merger and Acquisition
  • Business Agreement Escrows
  • Impoundment
  • Real Estate Purchase and Sale / Exchanges
  • Franchise
  • Acquisitions
  • For transfer of part or whole ownership
  • As a guarantee for entering into any form of agreement
  • As a performance guarantee
  • For exercise of share option agreements
  • Any other case upon request

Expertise and Personalized Service
You will receive the full attention of our specialists in the Escrow Services Department. They have the experience, combined with the speed and efficiency required, to manage your escrow transaction to your complete satisfaction.

ESTABLISHMENT OF BRANCH OFFICE AND LIAISON OFFICE BY FOREIGN COMPANIES IN PAKSITAN

top_law_firms_pakistanESTABLISHMENT OF BRANCH OFFICE AND LIAISON OFFICE BY FOREIGN COMPANIES IN PAKSITAN

Board of Investment (BOI) grants permission to foreign companies to open their Branch Office and Liaison Office in Pakistan.

BOI (Islamabad & Karachi Offices) have issued 551 permissions during 2007-2010 in respect of opening/extension of Branch and Liaison Offices in Pakistan.

Branch Office:

Branch Office PakistanBranch Office is established by a foreign company to fulfill its contractual obligations with the public or private sector in Pakistan. Their activity will be restricted to the work mentioned in the agreement / contract signed. However they cannot indulge in commercial / trading activities.

Liaison Office:

Liaison Office is established by a foreign company for promotion of products(s), provision of technical advice & assistance, exploring the possibility of Joint Collaboration and export promotion. However, they can not undertake any commercial / trading activities.

The request for opening of Branch office or  Liaison Office is processed and finalized within 6-8 weeks time, provided that the company fulfills all requirements and concerned quarters have no objection. The permission is issued for a period of 3-5 years, further renewable on submission of performance report with regard to Liaison Office and up to the completion of valid contract/agreement period in case of Branch Office.

PROCEDURE

Step-1 To download and send along with six sets of following documents:
i.     Application Form (duly filled in and signed with stamp)

ii.    Copy of registration of the foreign company duly attested by respective Pakistani Embassy;

iii.   Copy of Articles and Memorandum of Association duly attested by Respective Pakistan Mission;

iv.    Copy of Resolution / Authority letter of the company to establish Branch / Liaison Office in Pakistan;

v.     Copy of contract / agreement (in case of Branch Office Only)

vi.    Company Profile; and

vii.   Designated person authorized to act on behalf of the company

 

Opening of Branch and Liaison Office processing Official (Government) fee is as follows:

–    Opening of Branch Office                                    Charges per annum

i.    Regular Permission (initial registration           US $ 3000 for a period of one year.

ii.    Renewal Charges for each year                       US $ 1000 (1-5 years renewal based on the request of the company)

 

–    Opening of Liaison Office                                   Charges per annum
iii    Regular Permission (initial registration         US $ 2000 for a period of one year.
iv.    Renewal Charges for each year                      US $ 500 (1-5 years renewal based on the request of the company)

The amount is also acceptable equal in Pakistani rupees and shall be deposited in the Board of Investment PLS Account No. 44991-2 being maintained with National Bank of Pakistan, Main Branch, Civic Centre, Islamabad.

Step-2 :

On receipt of complete documents, BOI examines the documents and circulate the request to all concerned quarters for their views / comments.

Step-3 :

Having received clearances from all concerned quarters / agencies, BOI grants permission to foreign company to open their Branch / Liaison office in Pakistan.

Irfan Mir Halepaota & Associates has been ranked as one of the top and Best Corporate Law Firms in Pakistan by the Legal 500, HG and other International Directories of Law Firms.

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Irfan Mir Halepota, Advocate Supreme Court of Pakistan.

Submit Your Query For a Legal Advice

For rapid response you can also submit your Query at WhatsApp on +92 321 205 7582 For a Legal Advice
 
Law Firm in Pakistan dealing with Civil Litigation, Commercial, Intellectual Property, Real Estate and Family Laws of Pakistan.
E-26, Glass Tower, Clifton
Karachi, Sindh
PK
Phone: +92 321 205 7582

PROCEDURE REGISTRATION OF FOREIGN COMPANY PAKISTAN

PROCEDURE REGISTRATION OF FOREIGN COMPANY PAKISTAN

Registration of a Foreign Company comprises of following two steps:

1. Seek Availability of Company Name

2. Documentation

Step 1. Seek Availability of Company Name:

The first step in the process of registration of a Foreign Company is to seek availability of name of the proposed company from the registrar. The name of  the proposed company should not be:

• Inappropriate

• Deceptive.

• Designed to exploit or offend the religious susceptibilities of the people.

• Identical or having close resemblance with already existing company.

• Suggesting connection with any Government or its organization or any international organization.

Fees for seeking availability of company name through online.

 

Step 2. Documentation

Foreign Company RegistrationAfter seeking company name availability, next step is documentation. A foreign company is required to file the following documents, under the provisions of the Ordinance, within thirty days of establishing a place of business in Pakistan, to the registrar concerned:

I. Forms (38-43) as prescribed under the Rules

• Form 38: Certified copy of the charter, statute or Memorandum and Articles of the company.

• Form 39: Address of registered office or principal office of the company.

• Form 40: Particulars of directors, Chief Executive and Secretary, if any, of the company.

• Form 41: Particulars of principal officer of the company in Pakistan.

• Form 42: Particulars of person(s) resident in Pakistan authorized

to accept service on behalf of the foreign company alongwith the certified copy of the appointment order, authority letter of board of

directors’ resolution and consent of the principle officer.

• Form 43: Address of principal place(s) of business in Pakistan of the foreign company.

II. Authority letter in the name of authorized representative of the foreign company.

III. Fee Challan

1.4 What type of certification is required for the documents constituting or defining the constitution of a foreign company?

A copy of the charter, statute, memorandum and articles of association, or other instrument, constituting or defining the constitution of a foreign company is  required to be duly certified by:-

(a) the public officer in the country where the company is incorporated in whose custody the original is committed; or

(b) a notary public of the country where the company is incorporated; or

(c) an affidavit of a responsible officer of the company in the country where the company is incorporated.

In first two situations, at (a) and (b), certification is required to be authenticated by a Pakistan diplomatic consular or consulate officer, while in third situation at (c) above, affidavit shall be signed before a Pakistan diplomatic consular or  consulate officer. [Rule 22 of Companies (General Provisions and Forms) Rules,

1985]

1.5 What are the requirements, if charter, statute, memorandum and articles of association, or other instrument, constituting or defining the constitution of a foreign company, is in language other than English?

If the document constituting or defining the constitution of a foreign company, charter, statute or memorandum and articles of association is not in English or Urdu, duly certified translation in English or Urdu language is required to be provided. Translation of document constituting charter in English or Urdu, is required to be certified to be correct translation of the original. [Rule 23 of

Companies (General Provisions and Forms) Rules, 1985]

Where translation is made outside Pakistan, it shall be authenticated by the signature and seal of:

• the public officer in the country where the company is incorporated; or

• a notary public of the country where the company is incorporated.

Signature and seal of the person so certifying shall be authenticated by a Pakistan diplomatic consular or consulate officer.

Where translation is made within Pakistan, it shall be authenticated by an affidavit of any person having in the opinion of the registrar, an adequate knowledge of the language of the original and of English or Urdu, as the case may be.

1.6 Is a foreign company required to obtain any other permission from any  other organization for opening and maintaining of its branch/ liaison office in Pakistan?

A foreign company is required to obtain a permission letter from the Board of Investment with a specific validity period for opening and maintaining of its branch/liaison office in Pakistan. Copy of such permission letter is required to be furnished with the documents meant for registration.  Renewal/ extension of the permission to open/maintain a branch/liaison office is also required to be obtained from the Board of Investment on the expiry of the validity period of the permission originally granted. Whenever such renewal/extension is granted, a copy must be furnished to the registrar concerned.

 Irfan Mir Halepota, Advocate Supreme Court of Pakistan.

Submit Your Query For a Legal Advice

 
Law Firm in Pakistan dealing with Commercial, Intellectual Property and Corporate Laws of Pakistan.
E-26, Glass Tower, Clifton
Karachi, Sindh
PK
Phone: +92 321 205 7582


REGISTRATION OF FOREIGN COMPANY IN PAKISTAN

REGISTRATION OF FOREIGN COMPANY IN PAKISTAN

1.1 Who needs to deliver the requisite documents?

Recommended Law Firm in Karachi Pakistan by Legal 500
Recommended Law Firm in Karachi Pakistan by Legal 500

Every foreign company which establishes a place of business in Pakistan has to deliver the requisite documents to the registrar concerned within 30 days of establishment of a place of business in Pakistan.

1.2 What is a Place of Business?

A place of business includes branch, management, share transfer or registration office, factory, mine or fixed place of business but does not include an agency unless the agent exercises a general authority to negotiate and conclude contract or maintains stock of merchandise on behalf of the company.

Following are the exceptions:

1. Company shall not be deemed to have an established place of business in Pakistan merely because it carries on business dealings in Pakistan through a bona fide broker or general commission agent acting in the ordinary course of his business.

Leading Law in Pakistan
Leading Law in Pakistan.

2. The fact that a company has a subsidiary which is incorporated, resident, or carrying on business in Pakistan, shall not of itself constitute the place of business of that subsidiary an established place of business of the company.

1.3 What are the steps for registration of a foreign company?

Registration of a Foreign Company comprises of following two steps:

1. Seek Availability of Company Name

2. Documentation

Step 1. Seek Availability of Company Name:

The first step in the process of registration of a Foreign Company is to seek availability of name of the proposed company from the registrar. The name of  the proposed company should not be:

• Inappropriate 5

• Deceptive.

• Designed to exploit or offend the religious susceptibilities of the people.

• Identical or having close resemblance with already existing company.

• Suggesting connection with any Government or its organization or any international organization.

Fees for seeking availability of company name through online .

Submit Your Query For a Legal Advice

 
Law Firm in Pakistan dealing with Commercial, Intellectual Property and Corporate Laws of Pakistan.
E-26, Glass Tower, Clifton
Karachi, Sindh
PK
Phone: +92 321 205 7582

Documentation for Registration of Foreign Company in Pakistan

Documentation for Registration of Foreign Company in Pakistan

Recommended Law Firm in Karachi Pakistan by Legal 500
Recommended Law Firm in Karachi Pakistan by Legal 500

After seeking company name availability, next step is documentation. A foreign company is required to file the following documents, under the provisions of the Ordinance, within thirty days of establishing a place of business in Pakistan, to the registrar concerned:

I. Forms (38-43) as prescribed under the Rules

• Form 38: Certified copy of the charter, statute or Memorandum and Articles of the company.

• Form 39: Address of registered office or principal office of the company.

• Form 40: Particulars of directors, Chief Executive and Secretary, if any, of the company.

• Form 41: Particulars of principal officer of the company in Pakistan.

• Form 42: Particulars of person(s) resident in Pakistan authorized

to accept service on behalf of the foreign company alongwith the certified copy of the appointment order, authority letter of board of

directors’ resolution and consent of the principle officer.

• Form 43: Address of principal place(s) of business in Pakistan of the foreign company.

II. Authority letter in the name of authorized representative of the foreign company.

III. Fee Challan

1.4 What type of certification is required for the documents constituting or defining the constitution of a foreign company?

A copy of the charter, statute, memorandum and articles of association, or other instrument, constituting or defining the constitution of a foreign company is  required to be duly certified by:-

(a) the public officer in the country where the company is incorporated in whose custody the original is committed; or

(b) a notary public of the country where the company is incorporated; or

(c) an affidavit of a responsible officer of the company in the country where the company is incorporated.

In first two situations, at (a) and (b), certification is required to be authenticated by a Pakistan diplomatic consular or consulate officer, while in third situation at (c) above, affidavit shall be signed before a Pakistan diplomatic consular or  consulate officer. [Rule 22 of Companies (General Provisions and Forms) Rules,

1985]

1.5 What are the requirements, if charter, statute, memorandum and articles of association, or other instrument, constituting or defining the constitution of a foreign company, is in language other than English?

If the document constituting or defining the constitution of a foreign company, charter, statute or memorandum and articles of association is not in English or Urdu, duly certified translation in English or Urdu language is required to be provided. Translation of document constituting charter in English or Urdu, is required to be certified to be correct translation of the original. [Rule 23 of

Companies (General Provisions and Forms) Rules, 1985]

Where translation is made outside Pakistan, it shall be authenticated by the signature and seal of:

• the public officer in the country where the company is incorporated; or

• a notary public of the country where the company is incorporated.

Signature and seal of the person so certifying shall be authenticated by a Pakistan diplomatic consular or consulate officer.

Where translation is made within Pakistan, it shall be authenticated by an affidavit of any person having in the opinion of the registrar, an adequate knowledge of the language of the original and of English or Urdu, as the case may be.

 

1.6 Is a foreign company required to obtain any other permission from any  other organization for opening and maintaining of its branch/ liaison office in Pakistan?

A foreign company is required to obtain a permission letter from the Board of Investment with a specific validity period for opening and maintaining of its branch/liaison office in Pakistan. Copy of such permission letter is required to be furnished with the documents meant for registration.  Renewal/ extension of the permission to open/maintain a branch/liaison office is also required to be obtained from the Board of Investment on the expiry of the validity period of the permission originally granted. Whenever such renewal/extension is granted, a copy must be furnished to the registrar concerned.

 

Submit Your Query For a Legal Advice

 
Law Firm in Pakistan dealing with Commercial, Intellectual Property and Corporate Laws of Pakistan.
E-26, Glass Tower, Clifton
Karachi, Sindh
PK
Phone: +92 321 205 7582


Formation of Company in Karachi Pakistan

Formation of Company in Karachi Pakistan.

Top Law Firms in Karachi PakistanOur Law Firm is well recognized for offering services for registration of a company, registration of a private limited company, registration of a single member company, registration of a pubic limited company in Karachi, Lahore, Islamabad, Hyderabad and Thatta, Pakistan. The Private Limited Company is Generally called as Pvt. Ltd., Company in Pakistan.

We provide most easiest ways and services for Business Start-up in Pakistan. For registration of a private limited company, following documents are required:-

  • Copy of national identity card or passport, in case of foreigner, of each subscriber and witness to the memorandum and article of association.
  • Drafting and submission of Memorandum and articles of association.
  •  Form – 1 (Declaration of Compliance).
  • Registration/filing fee.

There are two stages for Registration of Company in Pakistan i.e. :-

  1. Availability of Name Search.
  2.  Documents for registration of a limited company

The Securities and Exchange Commission of Pakistan (SECP) registered 422 companies in April 2012 as compared to 370 companies during the previous month, showing an increase of 14 percent.
Company Registration CostsAn increase in the incorporation of companies has been witnessed, which is a sign of healthy growth and development of the corporate sector. The private companies have the highest share in new incorporation totalling to 385, followed by 26 single-member companies, four public unlisted companies, four non-profit association and three foreign companies. Of the three foreign companies, each belonging to the Turkey, the UK and South Korea were registered in Karachi. Foreign investment by France, Luxembourg, Netherlands, Australia, UK, Germany and Denmark nationals was witnessed in four new local companies registered in Lahore, Karachi and Islamabad in trading finance and banking, engineering and power generation.

Irfan Mir Halepaota & Associates has been ranked as one of the top and Best Corporate Law Firms in Pakistan by the Legal 500, HG and other International Directories of Law Firms.

If you require more information, Feel Free to Contact Us for detailed consultation.

Telephone: 0321-2057582

Regular Website:  http://www.irfanlaw.com

Company Corporate Business plan in Pakistan Karachi business setup registration in Pakistan.

Pakistan Incorporation of Company

 

 

 

 

 

Submit Your Query For a Legal Advice

 
Law Firm in Pakistan dealing with Commercial, Intellectual Property, Partnership and Company incorporation Laws of Pakistan.
E-26, Glass Tower, Clifton
Karachi, Sindh
PK
Phone: +92 321 205 7582

 

 

Schedule of Legal Professional Fees for Corporate Services in Karachi Pakistan

1. Registration of Private Limited Company
•Professional Charges for Registration= Rs. 25,000/- on share capital of Rs 1,00,000/-
•Expenses = Rs. 18,000/ on share capital of Rs. 1,00,000/
•Advice on complete procedure for registration (not necessary)=Rs. 3,000/-
2. Registration of Public Limited Company
•Professional charges= Rs. 3,00,000/-
•Costs and expenses according to the authorized share capital of the proposed Company.
3. Registration of a Partnership
•Professional charges = Rs.15000/-
*Costs and expenses = Rs.3, 500/-
•Advice on complete procedure for registration (not necessary)=Rs.2000/-
4. Joint Venture Agreement
• Professional charges = Rs. 50,000/-
5. Establishing a place of business in pakistan of a foreign Company
• Professional charges = Rs.120,000/-
•Advice on complete procedure for registration (not necessary)=Rs.10,000/-
6. Registration of company (NGO) U/s 42 of company registration
• Professional charges = Rs.50,000
•Costs and expenses = Rs. 64,000 (Online)

B. National Tax Number Certificate (NTN) and Sales Tax Registration
1. NTN Certificate.
• Professional charges = Rs.3,000/-
2. Sales Tax Registration.
•Professional Charges = Rs. 14000/-
C. Opening a Bank Account

1. Board of Directors Resolution (Drafting)
•Professional Charges = Rs.2,000/-
1.Trade Mark/ Service Mark Registration (in one class only)
*Professional Charges for Registration=15000/-
Registration costs and expenses are as under:
Trade Mark search fee in (one class): Rs. 1,000/-
Trade Mark application fee in (one class): Rs.4,000/-
Trade Mark Certificate fee: Rs. 6000
Miscellaneous Expenses: Rs. 12,000/-

D. Intellectual Property Right (Such as Trademark, Patent. Copyright) Registration

2. Copyright Registration (one work only)
• Professional Charges = Rs.20,000/-
• Expenses = Rs. 10,000/-
• Advice on complete procedure for registration (not necessary)=Rs. 5,000/-
3. Patent or Design Registration (one only)
• Professional Charges = Rs.20,000/-
•Expenses = Rs. 10,000/-
•Advice on complete procedure for registration (not necessary)=Rs. 5,000/-
E. Intellectual Property Rights and Licensing Agreement(s)
1.Trade Mark Licensing Agreement (Drafting)
•Professional Charges = Rs.20, 000/-
2. Franchise Agreement (Drafting)
• Professional Charges = Rs.35, 000/-
F. Purchase / Rent of Office
1. Sale Deed (Drafting only)
• Professional Charges = Rs. 4,000/-
•Costs and Expenses according to the value of the property.
2. Lease Agreement (Drafting only)
•Professional Charges =Rs.75,00/-
G. Import / Export / Licenses / Permissions from
Government Department
Legal Advice concerning any import export license and or approvals, permissions
NOC’s, licenses, registrations with any Government Authorities / Departments.
•Professional Charges = Rs.20, 000/-
H. Taxation Related Matters
Legal Advice regarding Custom Duty and Sales Tax as per rate(s) of levy how and when payable and income tax implications.
• Professional Charges = Rs.20, 000
1. Employment Contract
Professional Charges = Rs.10,000
Any Modification = Rs.3000/-
I. Employment Related Meters
K. Other Miscellaneous Matters
1. Business Sale / Purchase Agreement
• Professional Charges = Rs.20, 000
2. Sale/ Purchase of Goods Agreement
• Professional Charges =Rs.20, 000
3. Provision of Service Agreement
•Professional Charges = Rs.20, 000
4. Pakistan Software Export Board Registration
•Professional Charges = Rs.15, 000
5. Employment Promoter’s License
•Professional Charges = Rs.25, 000
6. Licensing of a Security Company
• Professional Charges =Rs.20, 000
7. Licensing for Restaurants
• Professional Charges = Rs.20, 000
8. Licensing For Hotels
•Professional Charges = Rs.30, 000
9. Licensing of Pharmaceutical Company
• Professional Charges = Rs.30, 000
10. Licensing of Pharmaceutical Company
•Professional charges=Rs.25000
•Costs and expenses as per the category of Constructor/Operator
L. Retainer-ship services
After setting up of the business enterprise you may avail our retainer ship services.
Retainer-ship services include complete legal documentation and it is a full legal cover
as far as legal documentation is concerned. However, it does not cover litigation
services or costs and expenses, Government fees etc.

Retainer-ship charges for small sized companies i.e. number of employees between 1 to 12 is Rs.10, 000 per month.

Retainer ship charges for medium sized Companies i.e. number of employees
between 13 to 50 shall be Rs.15000 to 35000 per month.

Retainer ship Charges for large sized Companies i.e. number of employees
exceeding 50 is Rs.35, 000 plus, per month.

Submit Your Query For a Legal Advice

For rapid response you can also submit your Query at WhatsApp on +92 321 205 7582 For a Legal Advice
 
Law Firm in Pakistan dealing with Civil Litigation, Commercial, Intellectual Property, Real Estate and Family Laws of Pakistan.
E-26, Glass Tower, Clifton
Karachi, Sindh
PK
Phone: +92 321 205 7582