Registration of Foreign Company in Pakistan

Registration of Foreign Company in Pakistan, being the team of lawyers providing legal services in all major cities of Pakistan including Karachi, Lahore, Islamabad, Hyderabad and Thatta. There are some general questions an answers which are essential of information of investors interested in Pakistan.

Q. What is meant by Foreign Company?

A. Foreign Company is a company registered outside Pakistan, under a foreign law other than Pakistani law and establishes its place of business in Pakistan.

Q. Is registration of foreign company is mandatory with Securities & Exchange Commission of Pakistan?

A. Yes, registration of a foreign company with Securities & Exchange Commission of Pakistan is mandatory.

Q. 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. A foreign company desirous of setting up a branch or liaison office is required to obtain permission from the Board of Investment, Government of Pakistan.

Q. For how long Board of Investment grants permission to open a branch/liaison office of foreign company in Islamic Republic of Pakistan?

A. The permission for opening of branch/liaison office is granted by the Board of Investment for an initial period of three to five years. Copy of such permission letter is required to be furnished with the documents meant for registration of a foreign company.

Q. After expiry does branch/liaison need permission again from Board of Investment?

A. Yes, after expiry 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 SECP concerned. Further extension is granted after reviewing the performance of the entity during the initial period.

Q. Can a foreign company adopt any name it likes or if there are any restrictions?

A. Foreign Company can establish a principal place of business in Pakistan in the name of the company registered in the country of origin.

Q. Memorandum and Articles of Association of a foreign company, is in language other than English will Securities & Exchange Commission of Pakistan will accept them?

A. According to Rule 23 of Companies (General Provisions and Forms) Rules, 1985, if the document constituting 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. Where any such translation is made outside Pakistan it shall be authenticated by the signature and seal of the public officer or Notary Public in the country where the company is incorporated, provided that signature or seal of the person so certifying shall be authenticated by a Pakistan diplomatic consular or consulate officer.

Q. Within how many days foreign company is required to deliver requisite documents to the Registrar Securities & Exchange Commission of Pakistan?

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

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

A. As per Rule 22 of Companies (General Provisions and Forms) Rules, 1985 a copy of any charter, statute, memorandum, articles or other instrument, constituting or defining the constitution of a foreign company is required to be duly certified by:-

• the public officer in the country where the company is incorporated to whose custody the original is committed; or

• a Notary Public of the country where the company is incorporated; or

• an affidavit of a responsible officer of the company in the country where the company is incorporated.

The signature and seal of the official referred above or the certificate of the Notary Public referred above shall be authenticated by a Pakistani diplomatic consular or consulate officer.

Q. Whether a foreign company is required to file any document to the registrar concerned on change or alteration therein?

A. Yes, foreign company is required to notify registrar on any change or alteration of the documents.

Q. What is meant by Global Accounts?

A. Global accounts are the accounts which a foreign company files with the authorities in country of origin. If a foreign company is not required to file the Accounts in country of origin, it shall prepare Global Accounts and get the same audited for purpose of filing of such accounts under the Companies Ordinance, 1984 like a public company.

Q. Are there any statutory obligations for the foreign companies?

A. According to Companies Ordinance, 1984 a foreign company is required to comply with the statutory obligations i.e.

To maintain at its principal place of business in Pakistan a register of Pakistani members and debenture holders, directors and officers, which shall be open to inspection.

In every prospectus inviting subscriptions for its shares or debentures in Pakistan, state the country in which the company is incorporated.

Conspicuously exhibit on the outside of every place where it carries on business in Pakistan the name of the company and the country in which the company is incorporated in letters easily legible in English or Urdu characters and also, if any place where it carries on business is beyond the local limits of the ordinary civil jurisdiction of a High Court, in the characters of one of the vernacular language used in that place. Cause the name of the company and of the country in which the company is incorporated mentioned in legible English or Urdu characters in all bill-heads and letter papers, and in all notices, advertisements, documents and other official publication of the company.

If the liability of the members of the company is limited, cause notice of that fact to be stated in legible English or Urdu characters in every prospectus inviting subscription for its shares, all letter papers, bill heads, notices, advertisements, and other official publications of the company in Pakistan, and to be exhibited on the outside of every place where it carries on business in Pakistan.

Q. Is there any exclusion to foreign companies to deliver accounts?

A. No there is no exclusion, all foreign companies must deliver accounts in Pakistan, and accounts would be prepared and adjusted like a public company.

Q. Are provisions of Companies Ordinance 1984 for registration of mortgage and charges are also applicable to foreign companies?

A. Yes, all the provisions of Companies Ordinance, 1984, as applicable to other companies, relating to the registration of mortgage and charges are also applicable to a foreign company.

Q. Does books of account to be kept by a foreign company?

A. According to section 230 of the Companies Ordinance, 1984 every company shall keep at its registered office proper books of account, the provisions of the said section also apply to the foreign companies.

Q. Do a foreign company need to intimate registrar before closure of its business in Pakistan?

A. Any foreign company at least thirty days before it intends to cease to have any place of business in Pakistan give a notice of intention to the concerned registrar and publish a notice of such intention at least in two daily newspapers circulating in the Province or Provinces in which such place or places of business are situate. As from the date of intention to cease to have any place of business in Pakistan stated in the notice, unless the said date is by a similar notice altered, the obligation of the company to deliver any document to the registrar shall cease, provided it has no other place of business in Pakistan.

Q. If a foreign company having an established place of business in Pakistan goes into liquidation in the country of origin then what procedure is to be adopted in Pakistan?

A. If a foreign company having an established place of business in Pakistan goes into liquidation in the country of its incorporation then it shall within thirty days give notice thereof to the registrar, and simultaneously publish a notice at least in two daily newspapers circulating in the Province or Provinces in which its place or places of business are situated and furnish to the registrar within thirty days of the conclusion of the liquidation proceedings all returns relating to the liquidation and the liquidation account in respect of such portion of the company’s affairs as relates to its business in Pakistan. Publish a statement on every invoice, order, bill-head, letter paper, notice of other publication in Pakistan that the company is being wound up in the country of its incorporation. Where a company has been dissolved, ceased then no person shall after the date of such dissolution or cessation, carry on, or purport to carry on , any business in Pakistan in the name or on behalf of such company.

Q. If a foreign company in Pakistan fails to comply with provisions of Companies Ordinance, 1984 is there any penalty?

A. If any foreign company fails to comply with any of the provisions of the Companies Ordinance, 1984 then, the company and every officer or agent of the company who knowingly or willfully authorizes or permits the default, shall be liable to fine.

Q. Are foreign companies are required to be registered with tax authorities in Pakistan?

A. Yes, Liaison/Branch office is required to be registered with the Tax Authorities in Pakistan.

Please contact Irfan Mir Halepota & Associates law firm for further details & professional business & legal consulting.

Irfan Mir Halepota & Associates provides services in Company Incorporation in Pakistan, Establishment of Branch / Liaison office in Pakistan, Drafting Contracts in Pakistan, Buy-Sell Agreements in Pakistan, Shareholder Agreements in Pakistan, Corporate and Shareholders Disputes in Pakistan,Corporate Restructuring and Reconstruction in Pakistan, Company Negligence in Pakistan, Company Dissolution or Liquidation in Pakistan, Purchase of Commercial Real Estate in Pakistan, Contract Disputes in Pakistan, Employment Contracts in Pakistan, Foreign Collaboration and Joint Ventures in Pakistan, Mergers and Acquisitions.

For more information please visit our website

Website Home page:  http://www.irfanlaw.com

Telephone:          +92 (0)321 205 7582

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
 
Irfan Mir Halepota & Associates
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

Corporate Law

 

Areas of Practice

Few law firms can match the industry experience, legal skill, technical breadth and business knowledge as Irfan Mir Halepota & Associates. We believe in working with you to protect your rights. We provide an integrated service to meet our clients’ needs. With our background, we offer specific expertise in the following areas:

Intellectual Property
Copyright
Domain Names
Intellectual Property Strategy
Intellectual Property Searches
Licensing and Franchising
Market Survey & Investigation
Opposition and Rectification
Patent and Design
Trade Secrets
Trademarks
Unfair Competition

Litigation
Administrative and Public Law
Antitrust/Competition Litigation
Arbitration and Mediation
Asset Tracking/Recovery
Banking and Finance Litigation
Corporate and Commercial Litigation
Corporate Fraud Litigation
Cross Border Litigation
Insurance Disputes
Intellectual Property Litigation
Media Disputes
Product Liability
Public Law Litigation
Real Estate Litigation
Regulatory Litigation
Restructuring and Insolvency

 

Fell Free to Contact Us for detailed consultation.

Irfan Mir Halepota, Advocate Supreme Court of Pakistan.

Telephone: 0321-2057582

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

Submit Your Query For a Legal Advice

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

Contact us

 

 

Irfan Mir Halepota & Associates

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: http://www.irfanlaw.com

Fell Free to Contact Us for detailed consultation.

Irfan Mir Halepota, Advocate Supreme Court of Pakistan.

Leading Lawyers in Karachi, Pakistan.

Telephone: 0321-2057582

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

Submit Your Query For a Legal Advice

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

Areas of practice

 

Areas of Practice

Few law firms can match the industry experience, legal skill, technical breadth and business knowledge as Irfan Mir Halepota & Associates. We believe in working with you to protect your rights. We provide an integrated service to meet our clients’ needs. With our background, we offer specific expertise in the following areas:

Intellectual Property
Copyright
Domain Names
Intellectual Property Strategy
Intellectual Property Searches
Licensing and Franchising
Market Survey & Investigation
Opposition and Rectification
Patent and Design
Trade Secrets
Trademarks
Unfair Competition

Litigation
Administrative and Public Law
Antitrust/Competition Litigation
Arbitration and Mediation
Asset Tracking/Recovery
Banking and Finance Litigation
Corporate and Commercial Litigation
Corporate Fraud Litigation
Cross Border Litigation
Insurance Disputes
Intellectual Property Litigation
Media Disputes
Product Liability
Public Law Litigation
Real Estate Litigation
Regulatory Litigation
Restructuring and Insolvency

Family Laws
Court Marriage
Child custody
Divorce / Khulla
Maintenance of Wife and Children
Guardianship of Child

Criminal Litigation

In a short span of time, our Chamber has won the trust and confidence of our clients facing criminal litigation. Our strength is our exposure and insight into the criminal justice system, enabling us to guide our clients at every stage of the case. We pursue the matter soon after the initiation of criminal investigation at the police station to advocacy and representation in the court taking the matter to its logical conclusion and desired results.

Initiation of Criminal Proceedings

Private Criminal Complaints

Harassment Petitions

Harassment Petitions

Bail Matters

Trials

Appeals

Criminal Investigation

Private Investigation
Miscellaneous Matters

 

Fell Free to Contact Us for detailed consultation.

Irfan Mir Halepota, Advocate Supreme Court of Pakistan.

Telephone: 0321-2057582

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

Submit Your Query For a Legal Advice

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

Preparation of Legal Notice in Karachi Pakistan

Irfan Mir Halepota & Associates believe that disputes can be resolved by negotiations, conferences by dedicated efforts in a cost effect way.  Hence we always endeavor to resolve disputes by initiating negotiations or by cautioning other party to settle out of court by way of Legal Notices.
Our Law Firm is draft the best legal notices on our clients and We are commonly engaged by our clients to issue legal notices for recovery matters, default in installment of a financial facility, default in payment schedule, breach of terms and conditions of contracts and guarantees, violations of constitutional provisions of Pakistan and matters of libel and slander under the Law of Tort and Defamation.
Hence upon excessive demand and  wide range of our clients we are also now facilitating our clients to furnish instruction for issuance of legal notices online. This service is introduced in Pakistan for the first time by our Law Firm and we are proud to lead our Nation in the field of Law. We represent our clients in Court Litigation upto Supreme Court of Pakistan.
What we can do online for you?

  1. Draft Legal Notices.
  2. Draft Reply to Legal Notices.
  3. Draft Public Notices.

How to Engage us?
This document can be drafted and be made available for Rs. 7500 (Pak Rupees). Including all delivery charges in Pakistan. Please note that if more than Carbon Copies to more than two recipients will be charged at Rs. 1000/- per five recipients.
You can choose to have your documents emailed to you, or sent to the recipient by first class post. We aim to prepare your documents by the end of the three working days, although in practice we normally start preparing your document within hours of receiving payment.

Irfan Mir Halepota, Advocate Supreme Court of Pakistan.

Submit Your Query For a Legal Advice

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