:: ZAFAR & ASSOCIATES

Dr. Ilyas Zafar

DR. ILYAS ZAFAR

Founder & Sr. Partner

South Asia

Rana Munir Hussain

MUNIR HUSSAIN

Senior Partner

Lahore, Pakistan

Shagufta Jabeen

SHAGUFTA JABEEN

Business Law Consultant

Durban, South Africa

Verda Hussain

VERDA HUSSAIN

Business Law Consultant

Karachi, Pakistan

Waseem Akram Bhatti

WASEEM AKRAM

Business Law Consultant

Manchester, UK

Imran-ul-Haq Khan

IMRAN-UL-HAQ KHAN

Senior Litigator

Quetta, Pakistan

M. Ilyas Mian

M. ILYAS MIAN

Senior Litigator

Rawalpindi, Pakistan

M. Nadeem Qureshi

M. NADEEM QURESHI

Senior Litigator

Karachi, Pakistan

Zafar-ullah Khan Khakhwani

ZAFAR KHAKHWANI

Senior Litigator

Multan, Pakistan

Waseem Ashfaq

WASEEM ASHFAQ

Chartered Accountant

Lahore, Pakistan

Muneeb Zafar

MUNEEB ZAFAR

Business Law Consultant

Lahore, Pakistan

Syed Nasir Ali Gilani

NASIR ALI GILANI

Business Law Associate

Lahore, Pakistan

Iram Fatima

IRAM FATIMA

Business Law Associate

Lahore, Pakistan

Sana Hassan Tariq

SANA HASSAN TARIQ

Business Law Associate

Lahore, Pakistan

:: Core Competencies

  • Company Formation
  • Choice of Entity
  • Tax Advice
  • Drafting Contracts
  • Buy-Sell Agreements
  • Shareholder Agreements
  • Employment Contracts
  • Commercial Financing
  • Company Negligence
  • Company Dissolution or Liquidation
  • Commercial Collections
  • Insurance Subrogation
  • Partnership Disputes
  • Contract Disputes
  • Purchase of Commercial Real Estate
  • Collection Matters

:: Connect With Us

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:: Company Law in Pakistan

Company Law

Here you may find information about company law in Pakistan. Our dedicated team of professional lawyers best assists their clients as to company law in Pakistan.

ZA-LLP has a strong and broadly based international commercial law practice. We have a team of lawyers who specialise in drafting, reviewing and negotiating commercial agreements. These range from strategic alliances to substantial one-off contracts (e.g. outsourcing, systems management and project development agreements) to repeat contracts and umbrella contracts with sub contractors and suppliers. The commercial law team has a particular focus on the way in which products and services are brought to market and promoted and has considerable expertise in the fields of marketing, advertising and sponsorship.

Our aim is to always to add value to our clients' businesses by assisting them to achieve their commercial objectives in the most practical way using our expertise and commercial awareness. We are particularly conscious of the need to protect and promote clients' legal interests effectively in the context of urgent and sensitive commercial situations. Our team is familiar with the range of specialist issues which can arise in day-to-day commercial dealings, such as competition law issues and the need to protect intellectual property rights. We work closely with other experts in the firm and are used to drawing together a number of specialist issues to provide the effective overall legal solutions which deliver the commercial objectives.

Our expertise in commercial law also gives our clients a significant advantage in more complex corporate transactions and de-mergers as, increasingly, there is a need for advice on strategic business contracts in the context of a corporate deal, for example to deal with transitional services issues or on-going supply arrangements. Specialist commercial law expertise combined with sectoral experience results in an in-depth understanding of the key business issues which need to be managed from a legal perspective which can be particularly helpful to private equity houses and investment banks.

The Commercial Law Counseling Group provides a complete range of commercial law services to ZA-LLPs' local, national and international clients. The Group handles a variety of complex transactions, including mergers, asset acquisitions and sales, joint ventures, leasing transactions and financing, bankruptcy related transactions, and business startups, as well as the preparation of contracts of all types. In addition, because companies law is often selected as the governing law for major national and international transactions, the Group works with both in-house and regular outside counsel in the structuring and documenting of such transactions and provides legal opinions required at closing.

:: Featured Domains Associated With Company Law Practice

Commercial Law

Company Law

Contract Enforcement

Commercial Law Company Law Contract Enforcement

Our aim is to always to add value to our clients' businesses by assisting them to achieve their commercial objectives in the most practical way. Click here to find more.

Our clients include companies of all sizes in many industries and the institutions that finance their operations and growth. Click here to find more.

We focus on helping clients maintain their current and long-term competitive positions, by advising them at every step in contracting process. Click here to find more.

Corporate Governance

Corporate Law

E-Commerce

Corporate Governance Corporate Law E-Commerce

Corporate governance is a term that refers broadly to the rules, processes, or laws by which businesses are operated, regulated, and controlled. Click here to find more.

Our range of corporate legal services will enable you to safely implement a variety of corporate law transactions in a cost-effective manner. Click here to find more.

There are a number of E-commerce laws and guidelines to follow when operating in the E-commerce world. Click here to find more.

Franchising

Investment Law

Joint Ventures

Franchising Investment Law Joint Ventures

We've gained substantial expertise in helping companies with strong unit economics use franchising as a means of exploiting market opportunities. Click here to find more.

The investors who want to make study for unforeseen problems may contact us for our reports on any project of their choice. Click here to find more.

A Joint Venture is a legal organization that takes the form of a short term partnership in which the persons jointly undertake a transaction for mutual profit. Click here to find more.

Our Approach

When companies enter into relationships with lenders and other business partners, the terms of those agreements are critical and often complex. ZA-LLPs' Commercial Lending, Banking, Bond, Creditors' Rights and Bankruptcy Practice Group provides guidance that produces mutually beneficial relationships across the entire spectrum of commercial relationships.

Our Attorneys

We are a multi-disciplinary team with more than 20 attorneys which prides itself on achieving client goals on time and within budget.

Our Clients

Our clients include companies of all sizes in many industries and the institutions that finance their operations and growth, such as banks, finance companies and insurance companies. We also serve bond issuers and underwriters.

Our Practice

We represent nationally and locally prominent commercial banks, finance companies, insurance companies and other lenders, as well as borrowers in connection with all aspects of secured and unsecured financing arrangements of all sizes. Those arrangements include:

  • Company Formation

  • Choice of Entity

  • Tax Advice

  • Drafting Contracts

  • Buy-Sell Agreements

  • Shareholder Agreements

  • Employment Contracts

  • Commercial Financing

  • Company Negligence

  • Company Dissolution or Liquidation

  • Commercial Collections

  • Insurance Subrogation

  • Partnership Disputes

  • Contract Disputes

  • Purchase of Commercial Real Estate

  • Collection Matters

DESCRIPTION

BRANCH OFFICE

LIAISON OFFICE

SCOPE OF ACTIVITIES

A branch office is set up by a foreign firm to execute the contracts awarded to it.

Activity will be restricted to the work mentioned in the agreement / contract signed.

Cannot indulge in commercial / trading activities.

Activity is restricted to the promotion of product(s), provision of technical advise and assistance, exploring the possibility of joint collaboration and export promotion (these activities are to be mentioned in the application)

Cannot undertake any commercial / trading activities.

MEETING EXPENSES

All expenses will be met out of funds transferred from abroad through normal banking channel and converted to local currency account or from the amounts received through execution of the agreement / contract.

All expenses will be met out of funds transferred from abroad through normal banking channel and converted to local currency account.

REMITTANCE FACILITY

Remittance of profits etc. is allowed subject to submission of information / documents as required in terms of Para 13 Chapter XIV of the Foreign Exchange Manual of SBP.

No remittance facility allowed.

HIRING OF FOREIGN NATIONALS

Employment of foreign nationals shall be made subject to the prior approval of the Government as per policy and in accordance with the policy of Pakistanisation.

Employment of foreign nationals shall be made subject to the prior approval of the Government as per policy and in accordance with the policy of Pakistanisation.

IMPORT AND EXPORT OF MACHINERY

Import / Export of machinery and equipment and its re-export shall be governed by the Import / Export policies of the Government.

Nil

REGISTRATION WITH SECP

Mandatory

Mandatory

FINALISATION OF CASE

6-8 weeks; however, 3 months provisional permission can be granted on the request of the Company.

6-8 weeks; however, 3 months provisional permission can be granted on the request of the Company.

PERIOD OF PERMISSION

3-5 years; renewable.

3-5 years; renewable.

DOCUMENTS REQUIRED

Six sets of the following documents are required:

  • Application Form;

  • Copy of Registration Certificate of the Foreign Company duly attested by Pakistan Mission;

  • Copy of Memorandum & Articles of Association;

  • Copy of Agreement / Contract in case of Branch Office;

  • Copy of Company's Profile; and

  • Copy of Resolution / Authority Letter of the Company to establish Branch Office in Pakistan.

Six sets of the following documents are required:

  • Application Form;

  • Copy of Registration Certificate of the Foreign Company duly attested by Pakistan Mission;

  • Copy of Memorandum & Articles of Association;

  • Copy of Company's Profile; and

  • Copy of Resolution / Authority Letter of the Company to establish Liaison Office in Pakistan.

RENEWAL

Following documents are required:

  • Copies of valid Agreements / Contracts along with their duration;

  • Income Tax Returns (for the last 3 years);

  • Copy of latest Audited Accounts; and

  • Proceeds Realisation Certificates.

Following documents are required:

  • Activity Report;

  • Receipt & Payment Statement; and

  • Proceeds Realisation Certificates.

TAX TREATMENT

The corporate tax rate of 35% applies.

Nil

CHANGE OF ADDRESS / TELE ETC.

Has to be intimated to the Board of Investment and other concerned quarters.

Has to be intimated to the Board of Investment and other concerned quarters.

DOCUMENTS REQUIRED FOR CLOSURE

The following documents are required:

  • Request Letter for Closure;

  • Activity Report, Proceeds Realisation Certificates and Audited Accounts for the last permitted period;

  • Copies of Press Clippings regarding Closure; and

  • Confirmation from Tax Authorities that all assessments and dues are clear.

The following documents are required:

  • Request Letter for Closure;

  • Activity Report, Proceeds Realisation Certificates and Receipt & Payment Statement for the last permitted period;

  • Copies of Press Clippings regarding Closure; and

  • Confirmation from Tax Authorities that all dues are clear.

Our focus on strategic issues and our familiarity with various industries allows us to assist our clients in negotiating terms that protect them throughout the lending relationship.

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