How are companies divided according to their incorporation

Here You can get an answer about How are companies divided according to their incorporation. Companies are classified according to incorporation as follow:

How are companies divided according to their incorporation?

a. Chartered Company

A Company that is formed under a special charter granted by the king or queen is called a chartered company. The Power, liabilities, and nature of the business of such company are explained by the charter.

b. Statutory Company

A company which is formed by a special act of the parliament or by order of the head of the state is called a statutory company. It is regulated by the act under which it is formed.

c. Registered company

A company which is formed under the companies ordinance 1984 is called the registered company. It also includes existing companies registered under previous laws.

d. Foreign Company

A company incorporated outside Pakistan and carries on business inside Pakistan is called a foreign company e.g MAN Energy solutions, Coca Cola, Shell Petroleum.

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