Incorporation of Single Member Company

Incorporation of Single Member Company Corporate Corporate Law Knowledge – Corporate Law Solutions - Corporate Law Any single person, by subscribing his name to the Memorandum of Association and complying with the requirements of the Companies Ordinance 1984 (“Company Law”) form a single member limited liability company.

The company needs a name for incorporation and first step towards it is to check availability of name from the company registration office of Securities and Exchange Commission of Pakistan (“SECP”). Once the name is officially reserved, the following documents are required to be filed in SECP to fulfill the incorporation requirements:

  1. Copy of national identity card or passport (in case of foreigner) of the subscriber and witness;
  2. Memorandum and articles of association;
  3. Form 1: Declaration of applicant for compliance;
  4. Form 21: Notice of situation of registered office of the company;
  5. Form 29: Particulars of first director of the company;
  6. Form S1: Notice of nomination of nominee director by single member of a single member company; and
  7. Registration and filing fee.

Please note that in case of Banking Company prior approval of Ministry of Finance and State Bank of Pakistan is required. Similarly, SECP approves Non Banking Finance Company; Ministry of Interior approves Security Services Company; Stock Exchange approves Corporate Brokerage House; State Bank approves Money Exchange Company, SECP grants license for Non-Profit Association and Ministry of Commerce grants license for Trade Associations.

Further information for the incorporation of single member company can be solicited from AUJ LAWYERS. Feel free to contact us in case you need any clarification and/or require assistance for incorporation/registration of single member company.