Have you ever heard about the Certificate of Incumbency? Do you know that it is important? If you are unaware about it in detail, don’t be worried, for what we are going to discuss today is nothing but all what you need to know about the certificate of incumbency and its importance. Let us know all what is required about it.

When it comes to the operation of a company, there will be a lot of documentation going on. There will be various documents need to be submitted to the government if you are running a company. Even for people who have been operating a company for years, it will still be confusing when it comes to the legal terminology and the procedures. And the certificate of incumbency is one of the important certificates when it comes to the operation of a company.

What does it mean by the Certificate of Incumbency?

Well, an incumbency certificate is purely a formal requirement, produced by a business organization, that identifies the owners, executives, and other significant stakeholders. The certificate of incumbency describes well about who each individuals are and what are the roles played by them in the functioning of the company.

How does the Incumbency Certificate help?

The certificate of incumbency can be of great help for determining who has the right to represent a firm in an economic transaction. It is considered as an official act of the company since it is issued by the firm’s corporate secretary.

What is the procedure to get the certificate of incumbency?

If you are a business person in need of getting an incumbency certificate, the very first step is creating the documentation. This would be the most crucial part of its process. If you want to make this process as simple as possible, you can create a detailed database of all the firm’s authorized signatories. In some countries the documentation must be certified by a government registrar.

What is the purpose of a Certificate of Incumbency?

The purpose of a certificate of incumbency is as simple as anyone could understand. It is used to verify the authenticity of contracting parties’ officials for a company or industry. It also done in order to establish a business profile, for the purpose of conducting organization deals, and also for the purpose of collaborating with lawyers.

Which are the signatures legally required for an incumbency certificate to be legally binding?

The certificate of incumbency usually requires the below given signatures to be legally binding. They are namely the Chief Executive Officer, Firm’s Director, Firm’s Secretary, Registered Agents, Stockholders.

How do you get the Certificate of Incumbency?

The important thing to be noted in this is the fact that the certificate of incumbency is provided by the corporate secretary. It is often stamped with the corporate seal, and might be authorized by a notary public.

Why attestation required for the certificate of incumbency in UAE?

Well, if you have plans to establish a company in the UAE or a foreign branch in the UAE, it is mandatory to get your company documents authenticated and legalized. Especially when you are opening a bank account, when you are signing agreements and new contracts.

Usually how long does it takes for a company document attestation?

Usually it takes five to six working days to receive the Embassy Attestation. But at times it can go more than this. There is no specific time mentioned for the attestation to have completed.

As we have reached the concluding part of our sharing of the important informations regarding the certificate of incumbency and all the necessary factors to be known regarding this, what we need to understand is that if you need to legally use it in another country, whether it is in the United Arab Emirates or any other country for that matter, the legalization is mandatory. And the legalization procedures can be done faster if the documents submitted by you are genuine.

After having known about the certificate of incumbency, if you have any queries or clarifications regarding this, kindly approach us in FIMKIN. Our team of skilled professionals can render the desired service for you.