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Property Law Real Estate Deals

How foreigners can invest in Pakistan real estate

Foreigners living in Pakistan could be discouraged to rent or buy property here in the sense that a little bit lengthy and lethargic process which can take several months to complete. The following post discusses the process in detail as well as why the government needs to relax the process in order to attract foreign investment in Pakistan real estate sector.

Following are the documents that foreigners are required to submit to the home department if they wish to rent or buy property in Pakistan.

  1. An employment letter from the company they’re currently working for, declaring the nature of their job, the duration of their employment along with the contact details of the company per se.
  2. A copy of their passport, along with the copy of a valid visa with six recent, passport size photographs.
  3. They are also required to submit a copy of the landlord/realtor’s CNIC.
  4. Additionally, the owner of the property in question also needs to submit attested copies of proof of ownership.
  5. Last but not the least, the law requires a contract to be drafted in the name of the occupant of the property. In case, a new tenant occupies the property, he’s legally required to get a new contract otherwise strict legal action would be taken against him.

Violation of the above mentioned procedure may lead to prosecution of the tenant, the landlord or both.

The whole of this process is daunting to say the least and keeps foreigners from investing in Pakistan real estate. The refusal on part of government to let foreigners freely buy and sell property in Pakistan is due to security concerns.

Contact us or For more information and articles relating to Pakistani Laws, you may visit our blog

 

Irfan Mir Halepota & Associates

Karachi Office

Office # E-26, Executive Floor,
Glass Tower,
Khayaban-e-Iqbal (Clifton Road),
Teen Talwar, Clifton,
Karachi, Sindh,
Pakistan.

Telephone No.  +92-21-35642634
Mobile Phone No. +92-321-2057582
Mobile Phone No. +92-300-8233580

Email: info@irfanlaw.com
Website: https://www.irfanlaw.com

You can Contact Us for detailed consultation.

Irfan Mir Halepota, Advocate Supreme Court of Pakistan.

Telephone: 0321-2057582

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

 

 

Categories
Property Law

CANTONMENTS RENT RESTRICTION ACT, 1963

Cantonments Rent Restriction Act, 1963 is an Act to make provisions for the control of rent class of buildings within the limits of the cantonment areas and for the eviction of tenants there from. It is expedient to make provision for the control of rents of certain class of buildings within the limits of the cantonment areas, for the eviction of tenants therefrom.

As per definations in the Cantoment Rent Restriction Act, 1963 ‘building’ means any building or part of a building, whether residential or not, together with all fittings and fixtures therein, if any, and includes any gardens, grounds, garages and outhouses attached or appurtenant to such building or part, and vacant land, but does not include any place of religious worship;to.

 

The provisions the of the Cantonments Rent Restriction Act and any rule or order made thereunder shall have effect notwithstanding anything inconsistent therewith contained in any other law for the time being in force, or in any instrument or document.

Every application under the Cantonments Rent Restriction Ac shall be filed with the Controller who shall either hear it himself or assign it to an Additional Controller for hearing and disposal.

 

The Controller shall, on an application by the tenant or landlord of building, fix fair rent for such building after holding such enquiry as he may think fit. The fair rent shall be fixed after taking into consideration the factors i.e.  the rent of the same building or similar accommodation in similar circumstances prevailing in the locality at the time of, and during the period of twelve months prior to the date of, the making of the application. In some cases the rise, if any, in the cost of construction and of the repair and maintenance charges as well as changes in the existing taxes after the commencement of the tenancy; and the rental value of the building as entered in the latest assessment list of the Cantonment Board as proposed under Section 72 of the Cantonments Act, 1924 (II of 1924).
The fair rent fixed shall be payable by the tenant from the date to be fixed by the Controller which shall not be earlier than the date of filing of the application.

Every dispute between a landlord and his tenant relating to the increase of rent shall be decided by the Controller. Provided that the Controller shall in no case allow any increase beyond seven and a half per centum of the cost of the addition, improvement or alteration made in the building or, beyond the amount of the additional tax payable by the landlord, as the case may be.

No landlord shall, without just or sufficient cause cut off or withhold any of the amenities enjoyed by the tenant. A tenant in occupation of a building may, if the landlord has contravened the provisions of this section, make an application to the Controller complaining of such contravention. If the Controller, on inquiry finds that the tenant has been in enjoyment of the amenities and that they were cut off or withheld by the landlord without just or sufficient cause, he shall make an order directing the landlord to restore such amenities, or authorising the tenant to provide the same and to incur such expense thereon as the Controller may specify, and any sum so spent by the tenant shall be adjustable against the rent payable by the tenant in respect of that building.

After the commencement of the Cantonments Rent Restriction Act, no tenant, whether before or after termination of his tenancy, shall be evicted from the building in his possession or occupation in execution of a decree passed after such commencement, except in accordance with the provisions of this section. A landlord who seeks to evict his tenant shall apply to the Controller for an order in that behalf, and the Controller may, after giving the tenant a reasonable opportunity of showing cause against the application, make on order directing the tenant to put the landlord in possession, if he is satisfied that the tenant has not paid or tendered the rent to the landlord within fifteen days of the expiry of the time fixed in the agreement of tenancy for payment of rent, or in the absence of such agreement, within sixty days following the period for which the rent is due; or any other order as he deems fit as per law.

You can Contact Us for detailed consultation.

Irfan Mir Halepota, Advocate Supreme Court of Pakistan.

Telephone: 0321-2057582

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

Supreme Court of Pakistan, Islamabad.

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
Property Law

Property Disputes Settlement in Karachi

Irfan Mir Halepota & Associates is a leading Law Firm in Karachi, Pakistan, which is well known to resolve all types of the disputes of Real Estates sale or purchase of Distress Properties in Karachi, Pakistan. We can clear and solve any kind of disputes related to your property, because the word “impossible” is not available for lawful owner of the property and person who has actual right, we believe when there is a will, there is a way.

Today in Real Estates and Properties, there are so many types of disputes like there may be disputes between family members, fake-forged and fabricated documents, rights of partition, Forceful occupation, Forceful Trespassing, Landlord and Tenant disputes, back steps from sale agreements, shortage of finance, Collaboration Dispute, Multiple sale of the same property, pending litigation, bank mortgage, private loan, private mortgage etc. creating a bad name of your valuable property in the market.

All the Real Estates with any of aforesaid dispute can be resolved by adopting proper procedure of law by taking care of in all respects for clearing all the disputes. All the disputes are taken care of by Well Experienced, Expert and Able Professionals Lawyers to resolve as per property Laws of Pakistan.

Honesty, Transparency and Secrecy of Every transaction and dealing is the basis of our success in the society.

We are skilled and professionally qualified team lawyers undertakes personal pain for their respective clients, with full attention, understanding all aspects and sensitiveness of the client’s Requirements in order to provide complete satisfaction to their Clients. We charge as per the seriousness and nature of dispute and our efforts made for resolving the same.

 

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 Civil Litigation and Property 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
Family Law

Family Law

Family Law includes all the Matrimonial, Civil, Family, Court Marriage Nikah, Custody of Children, Divorce, Dower, Dowry, Maintenance allowance of Children, and Property of Females Disputes.

Sometimes ladies can not come to office of a Lawyer for discussing her case due to domestic problems, therefore, she can not get proper legal assistance rapidly. We on-line services to them.

If you can not come our office then you can just email us the details of your case and sent required papers to us by courier services alongwith cross cheque or pay order of our professional fees. We will prepare your case, the draft is sent to client by email, after approval of the client the case is finalized for filing in the Court. Client has to come court for recording of statement before the judge.

Our well experienced Advocates are available at Karachi, Lahore, Islamabad, Hyderabad and Thatta.

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

Telephone: 0321-2057582

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

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
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
Intellectual Property

Pakistan Trademark Search & Registration

Top Law Firms in Karachi Pakistan

Irfan Mir Halepota & Associates is a Law Firm specializes in the trademark search and trademark registration in Pakistan, based at Karachi.

Trademark team of Irfan Mir Halepota & Associates at Karachi Office consists of fully qualified professionals and Best Trademark Attorneys in Pakistan, who is actively involve in the trademark law and trademark application that is trademark search and trademark registration in Pakistan.

Our trademark Attorney will ensure that your logo or your brand will receive full trademark protection and trademark enforcement in the Pakistan market.

Trademark Search PakistanIn Pakistan Trademark search is optional. However,  it is advisable to conduct a trademark search before filing an application to ensure if there is any prior registered trademark in Pakistan in respect of the area of your business.

Trademark registration in Pakistan gives Local and International company the exclusive right to prevent others from marketing the identical goods under the same or similar trademark in Karachi, Lahore, Islamabad including whole Pakistan. In Pakistan Trademark registration is indeed important to obtain exclusive rights for purposes of exploitation and commencing infringement actions.

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

 

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 Intellectual Property & Trademark 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
Environment Law

Environmental Laws and Policies in Pakistan

Top Law Firms in Karachi PakistanWe are one of the Pakistan’s leading environmental law firms. Unlike many firms, we have a standalone environment group – not a team that is an add-on to a real estate, planning or energy practice.

Our approach is practical and commercial.  We help our clients assess risk and avoid problems. Where they do have problems, we help solve them. Where damage is inevitable, we strive to limit it, with particular emphasis on protecting reputation and, when necessary, individuals.

We usually work with our clients to avoid litigation. But when we can’t avoid it, our combination of in-depth commercial understanding and criminal advocacy know-how makes us a formidable force. We also have an experience of the appeals system and judicial review.

In non-contentious areas, our environment lawyers do a wide variety of ‘pure’ environmental work, as well as advising on risk assessment and apportionment in corporate, property and financing transactions. They also work closely with our specialists in the areas of planning, energy and International law.

Our clients include European and US investors in the Pakistan, government departments and agencies, local authorities, banks, investment funds, landowners, utility operators, property companies, landfill operators, professional bodies and companies from many other sectors, including manufacturing, waste, chemicals, construction, house building, rail, mining, quarrying, oil and energy.

You can Contact Us for detailed consultation.

Irfan Mir Halepota, Advocate Supreme Court of Pakistan.

Telephone: 0321-2057582

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

Supreme Court of Pakistan, Islamabad.

Submit Your Query For a Legal Advice

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

Categories
Property Law

The ‘Agreement of Sale’ or ‘Sale Agreement’

Top Law Firms in Karachi PakistanWhether you are purchasing a plot for construction of a home or an apartment from a builder, the sale agreement is a document that you will need to scrutinise minutely before signing. Once signed, you will not be able to counter anything that is on it.

Sale AgreementThe sale agreement being a technical document will have a series of terms that you need to understand thoroughly. Sale, for example, is a transaction where money is exchanged, in part or in whole, for the transferring of ownership of a particular piece of property in whole.

There is nothing explicitly mentioned in the law about the sale agreement being a written one. However, it is now common practice and even a practical thing to do so, especially if the document is to hold water in a court of law. An important thing to do is to get the agreement registered, as a non-registered document does not have any legal bearing and any deal made on the basis of it is considered void.

Clauses

There are several inclusions or what are called clauses in the sale agreement. It will describe the property, include contact details of the seller and the buyer, the negotiated price will be mentioned and also how this payment is being disbursed. The time frame for the payment will be included. There will also be a provision for the payment of stamp duty and for the account of the property title.

The clauses in a sale agreement are important because they outline everything that will go into making this a successful transaction, which is completely legally sound. The contract will tell you if the payment is to be made in cash, in part or an agreement for it to be paid partially in the future has been agreed on.

Some of the clauses will cover municipal taxes that are due by the person buying, as well as maintenance charges and in the case of an apartment being purchased payment towards the building society.

Payment terms: The onus is on both the buyer and seller to come to a mutual agreement on the price of the property and all other expenses that go towards the transfer of property. This has to be included and has to be agreed on by both the buyer and seller.

The time for the disbursement of the payment should also be included right up to the last instalment. The document will need to be scrutinised by lawyers from both sides and then signed by both parties.

Transferring property titleTransferring of property title: For a loan to be sanctioned, the property title is important.

This should be transferred to the buyer when the seller has got in hand the amount agreed on. The transfer is the last step in the whole process of buying the property. The property will have to be registered in the buyer’s name by the seller at the local registrar office.

Stamp duty: These rates are fixed by the relevant authorities and can vary with each State. The onus is on the buyer to ensure that the property has been registered in his name at the rate that the government has sanctioned for the transferring of the property.

Sale deedSale deed: This follows the agreement of sale and is an understanding between the seller and the buyer. Its contents need to be scrutinised by experts multiple times before you actually sign on it.

With the right kind of legal help to support you, there is no reason to fear the complexities of the agreement of sale. It is something that you can easily surmount.

You can Contact Us for detailed consultation.

Irfan Mir Halepota, Advocate Supreme Court of Pakistan.

Telephone: 0321-2057582

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

Supreme Court of Pakistan, Islamabad.

Categories
Definitions

Pakistan

Top Law Firms in Karachi PakistanLaw Firm Founded in 2003, and located in Clifton, Karachi, Irfan Mir Halepota & Associates provides the full range of Complete Legal Services including Corporate Law Services, thus offering a complete relocation package for both individuals and businesses. With a range of qualified speakers of English, French, Sindhi, Urdu as well as other languages at our disposal, we are able to provide timely and accurate guidance to all clients, irrespective of nationality.

We are experienced not only in all types of Trademark, Patent, copyright, Banking, Civil and Corporate Litigation matters, but  able to assist with the complete process of establishing a business or commercial presence in the Karachi, Pakistan, and can assist in relation to all relevant property, tax, company formation and banking procedures.

We also have the capability to undertake Trademark & Patent searches, and carry out enquiries relating to prospective commercial partners in Pakistan, in order to reduce the risk of entering into unsuitable alliances or partnerships.

We aim to provide cost-effective approaches to the needs of individuals, and their families, as well as to businesses and commercial concerns, providing the platform for successful economic activity in Karachi, Pakistani for foreign investors and their associated business ventures.

Categories
Online Legal Services Property Law

Safe Way of Purchasing and Selling Property in Pakistan

In developed countries peoples sell, purchase and transfer property through lawyers and get avoid from fraud and legal complications. But unfortunately in Pakistan peoples directly go for this business, without verification the title deeds and legal status of the property and get trapped in frauds and legal complications. 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. This would save you from property frauds and loss of your money.

Our law firm advise and assists clients in sale, purchase and leasing of commercial, agricultural and residential properties. We successfully complete the whole process of verification and registration of title documents, procurement of revenue documents “Farad” and get mutation of names (Intiqal) in the revenue record.

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

 

Real Estate Related Laws of Pakistan

This overview explains procedure for sale/purchase of real estate in Pakistan, Gift of real estate in Pakistan, lease of real estate in Pakistan, mortgage of real estate in Pakistan and taxation of gains from real estate in Pakistan, taxation of real estate in Pakistan and set up of real estate investment trusts in Pakistan. These brief notes are for general guidance only and should not be taken as a substitute for thorough and professional legal advice.

Real Estate Related Laws of Pakistan

•The Transfer of Property Act, 1882

•Land Revenue Act, 1967

•Stamp Act 1899

•Registration Act 1908

Types of Real Estate in Pakistan

Sale of Real Estate in Pakistan

Sale of real estate in Pakistan normally takes place through a title document known as a Sale Deed, except in certain cases e.g. purchase of real estate in Defence Housing Authority (DHA) or in a housing society where sale deed is not executed for transfer of title in real estate and an allotment letter/transfer letter from the authority or the society, as the case may be, is deemed to be the title document. Some people, before execution of the sale deed, may opt to execute an agreement to sell. However, such agreement to sell does not transfer title to a property in favour of the vendee. It, nevertheless, does create a right in favour of the vendee, in case the vendor refuses to honour the terms and conditions of the agreement, to seek specific enforcement of the agreement to sell. Title in an immovable property is only deemed to transfer once such Sale Deed or title document has been executed. A sale deed must be affixed with requisite stamp duty and it must be registered with the relevant sub-registrar. After registration of the Sale Deed with the sub-registrar it must be ensured that a mutation of such sale is entered in the register of mutations kept and maintained by the patwari.

Purchase of Real Estate in Pakistan

Before purchasing real estate in Pakistan, a complete and thorough search in respect of title of the seller to the real estate must be carried out. A general practice is to investigate title of the current vendor and any previous owner(s). Original title document in favour of the vendor must be obtained alongwith other relevant documents including mutation in favour of the vendor, a fresh copy of fard, aks shajra and NOC/NEC as the case may be.

If the vendor is selling the property in the capacity of an attorney of the owner then it must be ensured that the power of attorney is affixed with appropriate stamp duty and it has been duly registered with the relevant sub-registrar. If possible, contact should be made with the owner(s) of the property and authenticity of the power of attorney must be confirmed. A holder of a forged and fabricated power of attorney may not be able to transfer a valid title in an immovable property to a third party.

Non-resident Pakistanis, overseas Pakistanis and foreigners may also purchase immovable property in Pakistan. Their presence in Pakistan at the time of execution of the title document is not necessary.

Lease/Renting out of Real Estate in Pakistan

Landlord’s Point of View

Landlord must ensure that lease of an immovable property is executed in writing. Lease of immovable property for a period of less than a year does not require compulsory registration. However, lease of immovable property for a period of more than a year must be registered.

If the tenant refuses to pay rent, or for any other reason as stated in the lease agreement and allowed under the law, the landlord may terminate the lease. If the tenant refuses to vacate the premises the landlord may file an ejectment petition before the relevant rent controller.

Tenant’s Point of View

Tenant must ensure that he makes payment of the rent either through a crossed cheque, or where payment is made through some other mode, then a receipt must be obtained from the landlord. In case the landlord unlawfully or unjustifiably attempts to evict the tenant, the tenant may file a petition before rent controller in addition to availing other legal remedies as advised by his counsel.

Gift of Real Estate in Pakistan

Gift of real estate in Pakistan must be made in writing. There is, however, a qualification to this general rule in case of a Muhammaden. A Muhammaden may make an oral gift of an immovable property. Although allowed under law, it is not recommended to make oral gifts of immovable property because it may become difficult to prove an oral gift. Where a gift deed is executed, it must be affixed with appropriate stamp duty and it must be registered.

An oral gift, in case of a Muhammaden, takes effect if all three of these under mentioned conditions are satisfied:

•Declaration of gift

•Acceptance of the gift by the donnee during the lifetime of the donor

•Transfer of possession of the subject matter of the gift by the donor to the donnee

Once all of the above-mentioned conditions are satisfied, then the fact of a gift is deemed to be established.

Mortgage of Real Estate in Pakistan

Legal Mortgage

A legal mortgage in respect of an immobile property may be created after execution of a mortgage deed. A mortgage deed must be affixed with appropriate stamp duty and it must be registered with the relevant sub-registrar.

Equitable Mortgage

An equitable mortgage in respect of an immovable property may be created simply by deposit of original title documents e.g. sale deed, allotment letter, etc., with the mortgagor. It is not required to be registered, however, a general practice is to get a lien marked in respect of such mortgage.

Real Estate Taxation in Pakistan

Taxation of Gains from Real Estate in Pakistan

The Constitution excludes legislation on taxation of capital gains from the purview of the federal government. The income tax law has also been harmonized with these constitutional provisions by excluding the immovable property from the definition of capital asset, whose gain is liable to tax.

Despite this, profits on some transactions concerning immovable property is taxable under the income tax law e.g. disposal of property acquired as a stock in trade or with commercial intent to make profit. However, gains realized on disposal of immovable property transferred as a consequence of family inheritance, gifts or without commercial motives, or the property held as a business capital asset are exempt.

Capital Value Tax on Real Estate Related Transactions in Pakistan

A Capital value tax at the rate of 2 percent of recorded value has been levied vide Finance Act, 2006. This is applicable in urban areas for residential property exceeding an area of one kanal and in case of commercial properties without any threshold of land area or size of the property. However, where the value of such property is not recorded, the CVT is payable at Rs. 50 per square yard of land area. All transfers falling under the scope of purchase, gift, exchange, surrender, power of attorney and relinquishing the rights have been subjected to the capital value tax. However, transactions between spouses, parents, grand parents, brothers and sisters through gift and inheritance have been excluded from its purview.

Establishment of Real Estate Investment Trust in Pakistan

The concept of Real Estate Investment Trust has recently been introduced in Pakistan as an incentive for real estate investment in Pakistan. Any income of such trust is exempted from tax, subject to the condition that not less than 90 percent of its profit of the year is distributed amongst the unit holders.

Irfan Mir Halepota & Associates

Karachi Office

Office # E-26, Executive Floor,
Glass Tower,
Khayaban-e-Iqbal (Clifton Road),
Teen Talwar, Clifton,
Karachi, Sindh,
Pakistan.

 

Telephone No.  +92-21-35642634
Mobile Phone No. +92-321-2057582
Mobile Phone No. +92-300-8233580

Email: info@irfanlaw.com
Website: https://www.irfanlaw.com

You can Contact Us for detailed consultation.

Irfan Mir Halepota, Advocate Supreme Court of Pakistan.

Telephone: 0321-2057582

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

 

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