BASICS OF COMPANY REGISTRATION IN NIGERIA (PART 1)

..BASICS OF COMPANY REGISTRATION IN NIGERIA (PART 1)

BASICS OF COMPANY REGISTRATION IN NIGERIA (PART 1)

BASIC THINGS YOU NEED TO DO IMMEDIATELY

NAME SEARCH AND RESERVATION: This is the very first stage of any form of incorporation at Corporate Affairs Commission (CAC). You are allowed to submit the maximum of two unique names at the  Corporate Affairs Commission (CAC) and one of the submitted names, if any of the name is available, it would be reserved for a period of sixty days. Although this can be done by any of the Directors of the propose company, it is advisable that you instruct CAC accredited agents to help you out. This will save you a lot of time and cost in the process of incorporating a Company or Business Name

It should be noteed if for example, your chosen unique company name is “BOKO HARAM INTERNATIONAL LTD”, CAC will reject the name for obvious reasons and where you presented a name similar to a registered company, it will also be  denied. There are over one million of registered companies in Nigeria today; it is extremely difficult to find a name that is not already in existence, that is why you must choose two names that are unique and CAC will choose one out of the two names submitted by your solicitor.

What if none of your unique names is chosen, what next?

CAC can reject your names a thousand times and a thousand times you will  pay to conduct a name search again and another 1 to 3 days for the name to be approved. Your Solicitor will have to start the whole Process again and pay new fees to the CAC for the search of a new name to be provided by you. It could be very frustrating, Therefore, make sure the names are very unique, this will to save time and as well as your money.

By |2019-08-22T14:34:34+00:00August 22nd, 2019|Uncategorized|0 Comments

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