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What is a Certificates of Incumbency and Why do Corporations Want Them?
What's a Certificates of Incumbency?
International clients usually make enquiries concerning certificates of incumbency for UK companies. We also hear from UK purchasers opening bank accounts abroad which have been requested to provide a certificates of incumbency. So what is this doc and how do you get one?
A certificates of incumbency is a document that is widespread in lots of countries. There isn't a prescribed or set format for this document and within the UK there is no official authorities-issued document by this name.
What info is displayed on the Certificate of Incumbency?
The most typical model of the certificates of incumbency simply sets out how the corporate was shaped or details the present corporate structure. This usually features a certification regarding the country of registration, official address, and particulars of the company officers and shareholders.
One of the most common uses of the incumbency certificate is to substantiate the signatories of the business. Banks regularly request these from international firms that want an overseas bank account.
Additional statements may be included on the certificate. Examples of this embrace
Details of where the corporate registers are held
Info relating to any mortgages or expenses
Details of the bank account signatories
Names of company officers that may enter into agreement on behalf of the company
Confirmation that the corporate is in good standing and not in liquidation
Affirmation that no action has been taken to shut the corporate and no proceedings are pending or threatened against the corporate
As there is no such thing as a authorized format to the doc you could include any assertion to suit your needs. As soon as completed the certificates of incumbency can then be signed by an authorised signatory of the company or by the registered agent that fashioned the company for you.
Is there an alternative to a Certificate of Incumbency?
The certificate of excellent standing is another document that may be issued in the UK . This is an official doc confirming the main points held by the registrar. As the doc is issued by Corporations House is used internationally particularly when opening bank accounts abroad. However, the document doesn't confirm who is authorised to sign documents for the company.
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