What is a Certificate of Incumbency?
Worldwide clients often make enquiries regarding certificates of incumbency for UK companies. We additionally hear from UK clients opening bank accounts abroad which were requested to provide a certificate of incumbency. So what’s this document and how do you get one?
A certificates of incumbency is a doc that is frequent in lots of countries. There is no such thing as a prescribed or set format for this document and within the UK there isn’t any official government-issued doc by this name.
What data is displayed on the Certificate of Incumbency?
The most common version of the certificates of incumbency merely sets out how the corporate was shaped or details the current corporate structure. This normally features a certification relating to the country of registration, official address, and particulars of the corporate officers and shareholders.
Probably the most common makes use of of the incumbency certificates is to substantiate the signatories of the business. Banks often request these from worldwide companies that need an overseas bank account.
Additional statements may be included on the certificate. Examples of this embody
Details of where the company registers are held
Information relating to any mortgages or costs
Particulars of the bank account signatories
Names of firm officers that can enter into agreement on behalf of the company
Affirmation that the corporate is in good standing and not in liquidation
Affirmation that no motion has been taken to close the company and no proceedings are pending or threatened in opposition to the company
As there isn’t any legal format to the doc it’s possible you’ll embody any assertion to suit your needs. As soon as accomplished the certificate of incumbency can then be signed by an authorised signatory of the corporate or by the registered agent that formed the corporate for you.
Is there a substitute for a Certificates of Incumbency?
The certificates of fine standing is another doc that can be issued within the UK . This is an official document confirming the main points held by the registrar. As the doc is issued by Companies House is used internationally particularly when opening bank accounts abroad. Nevertheless, the doc does not verify who is authorised to sign paperwork for the company.