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Enforcement of Foreign Judgement & Decree in Pakistan

Enforcement Foreign Judgement Decree Pakistan KarachiEnforcement of Foreign Judgement in Pakistan. The Section 44.A. describes the procedure for enforcement of Foreign Judgments in Pakistan, which is reproduced as under :-

(1) Where a certified copy of a decree of any of the superior Courts of the United Kingdom or any reciprocating territory has been filed in a District Court, the decree may be executed in [Pakistan] as if it had been passed by the District Court.

(2) Together with the certified copy of the decree shall be filed a certificate from such superior Court stating the extent, if any, to which the decree has been satisfied or adjusted and such certificate shall, for the purposes of proceedings under this section, be conclusive proof of the extent of such satisfaction or adjustment.

(3) The provisions of section 47 shall as from the filing of the certified copy of the decree apply to the proceedings of a District Court executing a decree under this section, and the District Court shall refuse execution of any such decree, if it is shown to the satisfaction of the Court that the decree falls within any of the exceptions specified in clauses (a) to (f) of section 13.

Explanation 1.-“Superior Court” with’ reference to the United Kingdom, means the High Court in England, the Court of Session in Scotland, the High Court in Northern Ireland, the Court of Chancery of the County Palatine of Lancaster and the Court of Chancery of the County Palatine of Durham.

Explanation 2.-“Reciprocating territory” means 1[the United Kingdom and such other country or territory as] the 3[Central Government) may, from time to time, by notification in the 3[official Gazette], declare [to be reciprocating territory for the purposes of this section; and “superior Courts”, with reference to any such territory, means such Courts as may be specified in the said notification.

Explanation 3.-.”Decree”, with reference to a superior Court, means any decree or judgment of such Court under which a sum of money is payable, not being a sum payable in respect of taxes or other charges of a like nature or in respect of a fine or other penalty, and

(a) With reference to superior Courts in the United Kingdom, includes judgments given and decrees made in any Court in appeals against , such decrees or judgments, but

(b) In no case includes an arbitration award, even if such award is enforceable as a decree or judgment.

Submit Your Query For a Legal Advice

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

Categories
Corporate Law Pakistan Business Setup Pakistan Company Registration Pakistan Registered Office

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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You can Contact Us for detailed consultation.

Irfan Mir Halepota, Advocate Supreme Court of Pakistan.

Telephone: 0321-2057582

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

Law Firm based in Karachi and Islamabad having well experienced Advocates and Lawyers in the fields of Corporate Law.
E-26, Executive Floor, Glass Tower, Clifton,
Karachi, Sindh
PK
Phone: +923212057582

Supreme Court of Pakistan, Islamabad. The Registry of the Supreme Court is also at Karachi.

Categories
Corporate Law Pakistan Business Setup Pakistan Company Registration

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.

You can Contact Us for detailed consultation.

Irfan Mir Halepota, Advocate Supreme Court of Pakistan.

Telephone: 0321-2057582

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

Law Firm based in Karachi and Islamabad having well experienced Advocates and Lawyers in the fields of Company & Corporate Law.
E-26, Executive Floor, Glass Tower, Clifton,
Karachi, Sindh
PK
Phone: 03212057582

Supreme Court of Pakistan, Islamabad. The Registry of the Supreme Court is also at Karachi.


Categories
Corporate Law Pakistan Business Setup Pakistan Company Registration

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
Categories
Corporate Law Pakistan Company Registration

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


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.