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Articles Of Incorporation For One Person Corporation
"I need Articles of Incorporation for a One Person Corporation in Pakistan for my new tech startup focusing on AI software development, with an authorized capital of 10 million PKR and provisions for potential future expansion into international markets by March 2025."
1. Name and Type of Company: States the proposed name of the company and specifies it as a Single Member Company
2. Registered Office: Specifies the complete address of the company's registered office in Pakistan
3. Objects of the Company: Details the primary and secondary business objectives of the company
4. Liability: Declaration of limited liability of the single member
5. Capital Structure: Details of authorized capital, number and types of shares, and paid-up capital
6. Single Member Details: Complete information about the sole member including name, CNIC/passport, address, and nationality
7. Powers and Duties of Single Member: Outlines the authority and responsibilities of the single member
8. Board of Directors: Provisions regarding appointment, removal, and powers of directors (if any besides the single member)
9. Meetings and Resolutions: Procedures for company meetings and passing resolutions
10. Company Secretary: Provisions regarding appointment and duties of the company secretary
11. Accounts and Audit: Requirements for maintaining accounts and conducting audits
12. Seal: Provisions regarding the company seal and its use
1. Additional Business Activities: Used when the company plans to engage in multiple business activities beyond its primary purpose
2. Branch Offices: Include when the company plans to establish branch offices
3. Foreign Investment: Required when there is foreign investment involvement or potential
4. Share Transfer Provisions: Detailed procedures for future share transfers if conversion to multiple shareholders is contemplated
5. Borrowing Powers: Specific provisions regarding the company's authority to borrow money
6. Digital Communications: Provisions for conducting business and meetings through electronic means
7. Succession Planning: Provisions for succession in case of death or incapacity of the single member
1. Schedule I - Subscriber's Declaration: Formal declaration by the single member accepting the terms of incorporation
2. Schedule II - Capital Structure Details: Detailed breakdown of the company's share capital structure
3. Schedule III - Objects Classification: Detailed classification of business objects as per SECP requirements
4. Schedule IV - Initial Appointments: Details of initial appointments of directors (if any), company secretary, and other officers
5. Schedule V - Bank Account Details: Information about the company's bank account(s)
6. Appendix A - Specimen Signatures: Specimen signatures of the single member and appointed officers
7. Appendix B - Consent Letters: Consent letters from appointed directors and officers
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