Wednesday, 4 September 2019

Single Member Company is a Private Limited Company

A single member company is a private limited company by status and the procedure of its registration is somewhat similar to the procedure of a Private Limited Company. A Private Limited Company has at least 2 partners required for its incorporation while a single member company is formed by a single member.

In the name of a Single Member Company the words "SMC" are written while in the Private Limited Company no such words are written. Similarly a person with a designation of Company Secretary has to be appointed in the Single Member Company while no such company secretary is required in a private limited company.

A nominee director is required in a Single Member Company while no nominee director is required in an ordinary Private Limited Company. A nominee director is the one that looks after the company when the single director is incapacitated or abroad for any reasons.

For more on company formation and functionality you can consult

Salman Yousaf Khan (Golra)
Corporate Lawyer

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Salman Yousaf Khan
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