Categories
Property Law

SALE, PURCHASE AND TRANSFER OF PROPERTY REAL ESTATE IN PAKISTAN

SALE, PURCHASE AND TRANSFER OF PROPERTY/REAL ESTATE IN PAKISTAN

OUR LAW FIRM advises and assists clients in sale, purchase and leasing of commercial, agricultural and residential properties in Karachi, Paksitan. We successfully complete the whole process of verification and registration of title documents, procurement of revenue documents “Farad” and get mutation of names in the revenue record.

In developed countries people sell, purchase and transfer property through Law Firms and get avoid from fraud and legal complications. But unfortunately in Pakistan, people directly go for this business, without verification of the title deeds and legal status of the property and get trapped in frauds and legal complications.

After visiting the properties shown by Estate Agent or Property Consultants. The best and safe way to sell, purchase and transfer of property is firstly to consult with lawyer for verification and checking the legal status of the property and then to enter into full written agreement by setting out all the terms and conditions in it. This would save you from property frauds, legal complications and loss of your money.

We initiate speedy legal proceedings against the offenders of Land Grabbing, Illegal Possession of property and Transfer of property by fraudulent manner.

OUR Law Firm provides clients with the best legal services to handle business transactions and deals of all sizes, including contracts and/or agreements pertaining to buying and selling property, leasing for the lessee or lessor, sales and maintenance of real estate and farms and vacant land.

OUR Law Firm has a wide range of practice areas in relation to registration. We guide clients in accordance with the Registration Laws of the Real Estate applicable in Pakistan. In collaboration with our partners, we empower clients to obtain the rights on their ownerships.

OUR Law Firm has experienced litigators, who appear for clients before all levels of the Pakistani courts in order to fight on behalf of them, for both the plaintiff and the defendant, before all stages of arbitration panels and the various forms of the ADR as well as representing them in all attempts to attain an amicable settlement with their opponents.

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


Categories
Corporate Law

Corporate Legal Services Karachi Pakistan

Corporate Legal Services in Karachi Pakistan

Corporate law is the body of law developed to govern the creation and existence of corporate entities and commercial transactions. This body of law allows for efficient, predictable and secure agreements and relationships. Corporate law also provides guidance for deciding what type of corporate entity will be best for a particular business situation or circumstance. Through utilizing corporate law, corporations can determine how best to protect the interests of their shareholders and facilitate commercial transactions with customers and lenders. It also contains Offshore Corporate Legal Services, Incorporation, Joint Ventures, Commercial Contracts & Agreements, Large Scale Corporate Transactions, Merges, Acquisitions, Financing, Investment, Corporate Restructuring and Corporate Management Services.

In a nutshell we are professional Corporate Consultants, having expertise in the following areas:

  • Corporation work
  • Company Registration with SECP
  • Firm/AOP Registration with Registrar of Firms
  • NTN Registration Services and Help
  • Sales Tax Registration and related matters
  • Anti-trust matters
  • Finance and taxation
  • Joint ventures
  • Projects involving the grant and exploitation of government concessions
  • The setting up and operation of:
    • Manufacturing facilities
    • Banking and financial institutions
    • Trading and service companies
  • Banking and financing transactions
  • Syndicated loans
  • Credit facilities
  • Project financing
  • Mergers, acquisitions and divestments
  • Licensing and transfer of technology
  • The grant of franchises, agencies and distributorships
  • The incorporation of companies, private, public and listed
  • The public floatation and listing of securities
  • Tender offers for listed securities

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 Firm.

Clients advised include those in the fields of banking, finance, shipping, pharmaceuticals, chemicals, pesticides, petroleum, cement, tobacco, beverages, edible oils, soaps and detergents, tea, vehicles, computers, communications, general services and other fields.

Categories
Property Law Real Estate Deals Tax

Property Valuation FBR State Bank of Pakistan

FBR Pakistan Tax Property ValuationThe Finance Bill 2016 an amendment to Section 68 of Income Tax Ordinance, 2001 had been proposed under which commissioner Inland Revenue had been empowered to reject the collector value of provincial government and appoint valuation committee to ascertain fair market value to determine the income tax.

The amendment seeks to determine fair market value of property without regard to value fixed or notified by any provincial authority for the purpose of stamp or for any other purpose.
Property of posh areas in big cities like Karachi, Lahore, Islamabad which disclosed that the declared value was much lower than the open market value thus causing huge monetary losses to national exchequer.
It is generally observed by the Government Authorities that Property business in big cities had become source of parking undeclared or black money.
The amendment is proposed to be effective from July 01, 2016 but the commissioner IR could able to determine the valuation of past six years as envisaged in the tax laws.
The existing Section 68 explains fair market value as:
(1) For the purposes of this Ordinance, the fair market value of any property or rent, asset, service, benefit or perquisite at a particular time shall be the price which the property or rent, asset, service, benefit or perquisite would ordinarily fetch on sale or supply in the open market at that time.
(2) The fair market value of any property 3[or rent], asset, service, benefit or perquisite shall be determined without regard to any restriction on transfer or to the fact that it is not otherwise convertible to cash.
(3) Where the price referred to in sub-section (1) is not ordinarily ascertainable, such price may be determined by the Commissioner.
Further Section 222 of the Ordinance authorized the commissioner to appoint expert. It said: “The commission may appoint any expert as the commission considers necessary for the purpose of the Ordinance for the purpose of audit of valuation.”

Irfan Mir Halepota, Advocate Supreme Court of Pakistan.

Categories
Corporate Law

List of Banks in Pakistan

We work closely with many  banks, therefore if you need any assistance in communicating with your bank or want to settle your legal disputes you need not look any further. The details of all the Banks currently working in Pakistan are mentioned in the below list.

   Government Owned Banks:

  • First Women Bank Limited
  • Khushhali Bank Limited
  • National Bank of Pakistan
  • SME Bank Limited
  • Sindh Bank Limited
  • The Bank of Khyber
  • The Bank of Punjab
  • The Punjab Provincial Cooperative Bank Limited
  • Zarai Taraqiati Bank Limited

   Privatized Banks:

  • Allied Bank Limited
  • Habib Bank Limited
  • MCB Bank Limited
  • United Bank Limited

   Development Financial Institutions:

  • National Investment Trust Limited
  • Pak Brunei Investment Company Limited
  • PAIR Investment Company Limited
  • Pakistan Kuwait Investment Company (Pvt.) Limited
  • Pak Libya Holding Company (Pvt.) Limited
  • Pak Oman Investment Company Limited
  • Saudi Pak Industrial & Agricultural Investment Company Limited

  Small and Medium Enterprise (PBA subgroup under formation):

  • The First MicroFinanceBank Limited

   Private Banks:

  • Al Baraka Bank (Pakistan) Limited
  • Askari Bank Limited
  • Bank Alfalah Limited
  • Bank AL Habib Limited
  • BankIslami Pakistan Limited
  • Burj Bank Limited
  • Dubai Islamic Bank Pakistan Limited
  • Faysal Bank Limited
  • Habib Metropolitan Bank Limited
  • JS Bank Limited
  • KASB Bank Limited
  • Meezan Bank Limited
  • NIB Bank Limited
  • Samba Bank Limited
  • Silkbank Limited
  • Soneri Bank Limited
  • Standard Chartered Bank (Pakistan) Limited
  • Summit Bank Limited (Formerly Arif Habib Bank Limited)

   Foreign Banks:

  • Barclays Bank PLC, Pakistan
  • Citibank N.A., Pakistan
  • Deutsche Bank AG, Pakistan
  • HSBC Bank Middle East Limited, Pakistan
  • HSBC Bank Oman S.A.O.G. (Formerly Oman International Bank S.A.O.G.)

   Non-Member Banks & Development Financial Institutions:

  • APNA Micro Finance Bank Limited (Formerly Network Micro Finance Bank Limited)
  • Bank of Tokyo Mitsubishi UFJ Limited, Pakistan
  • House Building Finance Company Limited
  • Industrial and Commercial Bank of China Limited
  • Industrial Development Bank Limited
  • KASHF Microfinance Bank Limited
  • NRSP Microfinance Bank Limited
  • Pak-China Investment Company Limited
  • Pak Oman Microfinance Bank Limited
  • Tameer Micro Finance Bank Limited
  • U Microfinance Bank Limited (Formerly Rozgar Microfinance bank Limited)
  • Waseela Microfinance Bank Limited
 Irfan Mir Halepota, Advocate Supreme Court of Pakistan.