Islamabad has a booming legal Market . Being the Country’s Capital it is not only the hub of all government related work but it has in recent years also seen a tremendous growth in large Corporate entities establishing their offices here . Apart from the Country’s Supreme Court which is Located in this City , the Islamabad High Court has also been established recently to cater exclusively to the needs of the Capital territory.
The legal system prevailing in Pakistan is largely inherited from English Colonial times , the Civil Procedure Code itself (though amended from time to time) dates back to 1908, the Contract Act to 1872 and so on.
The Judicial Structure from Pre-Independence days has also by and large survived to this day , however it has evolved over the decades and adapted itself to suit present day conditions.
There is a Federal Shariat Court ( established in the 1980’s through a constitutional amendment) as well as special courts dealing with Narcotics/Terrorism etc cases.
The Judgments/orders /decrees of the courts are predominantly in the English Language so are all the established legal journals and publications, yet URDU is largely resorted to in actual litigation,which therefore requires a “Hands On” approach .
The Corporate Sector , here in Islamabad much like the rest of the Country consists of ;
- Sole Proprietorships:
A business carried on by an individual on his own account. There is no formal procedure or requirement for setting up this kind of business.
- Company limited by shares; or a
- Company limited by guarantee; or an
- Unlimited company
A foreign company can also setup a place of business (which includes a branch, share transfer or registration office, factory, mine or other fixed place of business) in Pakistan without formally creating a separate legal entity.
Partnership in Pakistan is the relation between persons who have agreed to share the profits of a business carried on by all or any of them acting for all. The Partnership Act 1932 regulates such concerns.