What are the requirements for private company or business registration? Please I need your idea house,thanks.

Let someone enlighten me please

EzeJustme:
Let someone enlighten me please

Hello Ezejustme!
FEATURES OF A PRIVATE COMPANY ‘’LTD.’’
It restricts the transfer of its shares to the public.

The authorized minimum share capital is 10k.

The membership is between 2 to a maximum of 50 persons.

It cannot invite the public to subscribe to its securities EXCEPT as authorized by law.

The name of a private company must end with the word limited etc.

Business name on the other hand is registered with cac too however it may or may not be compulsory to register a business name.depending on the following

REGISTRATION OF BUSINESS NAME IS NOT COMPULSORY.
For an individual, if he uses his full name, initial and surname or the surname without any addition.

Firm/Partnership, if it uses the full name, initial and surname of the partners without any addition.

Company/Corporation, when it uses its corporate name without any addition.

Two or more partners having the same surname; if there is an addition of an ‘S’ at the end of the surname.

Business carried on by a Receiver/Manager appointed by court, add “In Receivership”.

Where business is carried on under succession or new management.

Where the true surnames of the partners are coupled

WHEN IS REGISTERATION OF BUISNESS NAME
COMPULSORY
I if true surname of individual is not used.
ii. If mixed surname and forename of the partners is used e.g. one partner brings surname and the other brings forename.
iii. If additions of “& sons” is made.
iv. Any addition or subtraction to company’s

NUMBER OF PERSONS WHO CAN REGISTER A BUISNESS NAME
The minimum number of persons to register a business name is 1 and a maximum of 20.

THE EFFECT OF REGISTRATION OF BUSINESS NAME
A certificate of registration of business name is issued

It gives priority over the name registered so that no company/ business will be registered in that name.

It gives the public the true identity of the persons behind the business name.
For further enquiries and assistance call 07019868819.