Single Member Company Doesn't Required any Regular Compliance with SECP? | SMC Compliance with SECP

A Single Member Company or SMC is a business that is set up as separate legal entity from its owner and has only one shareholder. The creation of SMCs was first allowed by SECP through Single Member Companies Rules, 2003. These rules allow single persons to convert their non-corporate entities into companies with limited liability of the Single Member.

There is one member or shareholder who owns the company. He or she acts as the Director. The Single Member (Director) has all control of the company and can remove or appoint any officer.
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