What’s a Certificate of Incumbency?
Worldwide clients often make enquiries concerning certificates of incumbency for UK companies. We also hear from UK shoppers opening bank accounts abroad which have been requested to provide a certificate of incumbency. So what’s this doc and the way do you get one?
A certificate of incumbency is a document that’s frequent in lots of countries. There isn’t any prescribed or set format for this doc and within the UK there isn’t any official government-issued doc by this name.
What info is displayed on the Certificate of Incumbency?
The commonest model of the certificate of incumbency merely sets out how the corporate was formed or details the current corporate structure. This usually includes a certification regarding the country of registration, official address, and particulars of the company officers and shareholders.
Probably the most frequent makes use of of the incumbency certificate is to confirm the signatories of the business. Banks steadily request these from international firms that need an overseas bank account.
Additional statements may additionally be included on the certificate. Examples of this embrace
Details of where the company registers are held
Data regarding any mortgages or costs
Particulars of the bank account signatories
Names of company officers that can enter into agreement on behalf of the company
Confirmation that the corporate is in good standing and never in liquidation
Affirmation that no motion has been taken to shut the company and no proceedings are pending or threatened against the company
As there is no such thing as a legal format to the document you may embody any statement to suit your needs. Once completed the certificates of incumbency can then be signed by an authorised signatory of the corporate or by the registered agent that formed the company for you.
Is there an alternative choice to a Certificate of Incumbency?
The certificates of good standing is an alternate doc that can be issued within the UK . This is an official doc confirming the details held by the registrar. Because the document is issued by Companies House is used internationally particularly when opening bank accounts abroad. Nonetheless, the document doesn’t affirm who’s authorised to sign paperwork for the company.