Hello people,

I need clarification on the difference between Incorporation year and Established year.

I am aware that year of incorporation is the year that appears on your company's CAC certificate. But when you see Established year, does it mean the year you started operations or is it the same thing with year of incorporation?

If they are different, which one do you select in celebrating your company's anniversary?, as many businesses didn't start operations the same year they were incorporated.

Your reasonable input will be highly appreciated.

?

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Establshed year (first pix)


Incorporation year (second pix)


I don't know how to explain,just study the pix and deduce your answer.

Attached are the pics below.

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Year of Incorportation: This is the year you started to co-operate with Guys.

Year of Establishment This is the year you Established a.k.a the year you Hammer.






Dont Thank me, thank God.


EDITED:: Okay, so after being called out by some people for being unserious, I have decided to be serious.. SO SERIOUSLY SPEAKING NOW

OP, since you are confused with the Establishment date, I will give you an example.. Have you seen a FirstBank Sign? Example below..



Thats what they are asking. That date may not be the same as the Date it got incorporated. Infact it shouldnt be the same as the incorporation date.

Many Businesses have signs with the 'Est. Since 9120', e.t.c.. The Date of Incorporation may be Older or Younger than the date of Establishment.

For my company, the date of Incorporation is 3 years older than the date of Establishment.



I hope this answers your question..


Cc: Ujsizzle & franciskane. I hope you guys are cool now.. Please keep me in your prayers.. I think I am actually Mad.

Whr are the management experts? From my basic knowledge, I think incorporation simply means when a biz gets legal approval to start operation from the Corporate Affairs Commission. On the other hand, year of establishment means the actual year the biz starts its operation. For instance, a biz might get its approval in 2015 and begin its actual operation in 2016.

Yes @ OP. The Year you started the business is the "Established Year" while the Year you Registered the business with CAC is the "Incorporated Year".

Anniversaries are usually done with the Year of Establishment which is usually earlier or the same as the year of Incorporation.


In order words.. "You CAN Establish before you Incorporate", You CAN "Establish and Incorporate at the same time" but "You CANNOT Incorporate before you Establish"

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Incorporation = certificate of registration under CAMA 1990 or with CAC

Established: the day you opened shop and started trading

Both could also be same day

.

date of incorporation is the same as the date the enterprise was established. however incorporation date may be different from date of commencement of operations/business. where the business has been incorporated but not commenced business, the floaters prepare and file "statement of affairs" while after commencement of operations, financial statements are prepared. tax implications also differ.

MyTime3:
Yes @ OP. The Year you started the business is the "Established Year" while the Year you Registered the business with CAC is the "Incorporated Year".

Anniversaries are usually done with the Year of Establishment which is usually earlier or the same as the year of Incorporation.

1.4million likes

Simple explanation; incorporation is more like legalizing a new or an already established organisation or a business entity.... while Established yr is the yr of the creation.

I would say YOI is thedate the business came into existence as a legal entity under the law and Est is when you start actual trading. I say this because you could be established as a sole trader long before changing your legal status to a company. They could be the same, it's really a flexible term, use whichever suits your purpose.

Year of establishment is the year you set up your business or your business began operations, while the year of incorporation is the year you registered your business with relevant regulatory agencies such as CAC.

Can some please give the email that can be used to report erring bank to CBN?

MadCow1:
Year of Incorportation: This is the year you started to co-operate.

Year of Establishment This is the year you Established a.k.a the year you Hammer.






Dont Thank me, thank God.

Onye me gi ihe a

Noted

Year if establishment is the year the business started while year of incorporation is the year it was registered with corporate affairs commission. A business can start for some years before the owner register it with Corporate Affairs Commission (CAC). The year it was registered is the year it becomes a legal person.

MyTime3:
Yes @ OP. The Year you started the business is the "Established Year" while the Year you Registered the business with CAC is the "Incorporated Year".

Anniversaries are usually done with the Year of Establishment which is usually earlier or the same as the year of Incorporation.


in order words.. "You CAN Establish before you incorporate", You CAN "Establish and Incorporate at the same time" but "You CANNOT Incorporate before you Establish"

ur on point.

Incorporated year --+ registered with CAC
Established year ----- year the company started operations.

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UjSizzle:

Onye me gi ihe a

O'kwa ife'm mua ka na ju onwe'm since 1942 mgbe ara'm a' bido..

I'm surprised you want this info for anniversary purposes rather than tax purposes

how have you been accounting for the profits and taxes for 2014 to 2015 ?

forceofnature:
My company was established in 2014 but was incorporated with the CAC in 2015.. 2014 was the actual year i started operations but it became legal and taxable a year later.