Preparing and filing the Memorandum of Association

|Preparing and filing the Memorandum of Association

The Memorandum of Association must contain:
• The approved name of the proposed company
• The address of the registered office. The registered address can be any valid street address, as long as either the owner or the legal tenant is prepared to confirm in writing that the company is authorized to occupy the premises
• The objective of the company
• A declaration that the liability of the shareholders shall be limited
• The amount of the registered capital, the number of shares, and par value. Any later increase or decrease of such registered capital amount must be done by a special resolution of shareholders
• The names, nationalities, addresses, ages, occupations of the promoters, and the number of shares subscribed by each of them (each promoter is required to hold minimum one share)

The memorandum must be made in at least two original copies signed by the promoters and certified by 2 witnesses. One of the copies of the memorandum must be deposited and registered with the Department of Business Development nationwide.

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