Document background
The Memorandum of Association of a Single Member Company is a crucial incorporation document required when establishing a company with sole ownership in Pakistan. This document type was introduced following amendments to Pakistani company law to facilitate entrepreneurship and simplify business formation for individual businesspersons. It must comply with the Companies Act 2017 and related SECP regulations, containing mandatory information about the company's identity, objectives, and the single member's details. The document is used when an individual wants to establish a limited liability company without involving other shareholders, providing protection of personal assets while maintaining sole ownership and control. It serves as the primary reference for the company's scope of activities and powers, and is essential for registration with SECP, opening bank accounts, and conducting business operations.
