A private company with a customised MOI is similar to a private company with standard MOI in many ways, except the following:

A customised MOI allows shareholders to impose certain conditions or waive certain requirements, such as an audit requirement. The MOI must be attached to the application for new company registration and may require the assistance of a legally qualified person or someone with company secretarial knowledge.

When customising the MOI, incorporator(s) may decide to adopt a long-form MOI, which is already set out and allows the business person to select certain preferences or may adopt their own MOI with or without certain ring-fencing provisions.

At present, a private company with a customised MOI can only be registered manually.

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Checklist for registration of a private company with customised MOI: