boboLIL:
Came to learn as you too...

seunlayi:
I love most of the threads that made it to fp on nairaland today. No snakes.... No tonto dike,....etc Is Lai...... on break?

MyTime3:
"You CANNOT Incorporate before you Establish"

montezz:

*sits beside him* bros shift yansh abeg.

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"

MadCow1:
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.

franciskaine:
joking with everything is not the best way of life.

davodyguy:
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

Soundmind:
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.

davodyguy:
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

MadCow1:


I agree..


Sadly, I can't help myself. I guess that's one of the reasons for being MadCow.

routik:
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.

franciskaine:
funny, dint even look at ur moniker before.

routik:
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.

MadCow1:
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.

MadCow1:
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.

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"

jaz:
ive read quite a bit of comments and must say i'm amused. lots of incorrect info being passed around. let me clarify a few points.

- the Law governing establishment and management of a business enterprise, whether sole proprietorship, partnership, limited companies, public entities, is the "Companies and Allied Matters Act" of Nigeria

- According to Part B, Section 573 (1) of CAMA" "Every individual, firm or corporation having a place of business in Nigeria and carrying on business under a business name shall be registered..." so once you establish even a shop you are required by law to register with CAC. this is further corroborated in Section 21 (1c) of CAMA.

- Date of establishment is also the same as the date of incorporation because no company can operate in Nigeria without registration

- For those who engage in business enterprise in NIgeria, such activities are considered null and void however this does not apply to payment of taxes. but payment of taxes would also require registration so you decide.

- For those who have established a business without registration or later registration and most likely without payment of taxes, or notification of respective tax offices , are seating on a keg of gun powder and have no right to complain if they don't have basic social amenities.

- let me know if you have any further questions. Peace!

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"

UjSizzle:

it is possible to start business operations before incorporating your business. It is illegal, but it's done.
And for tax purposes the proprietor can either do the right thing by remitting returns on income from the date of establishment, or he can change all the bank accounts of the company and great new ones (i.e assume the company began operations on the date of incorporation.) which is wrong

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"

jaz:
true but i don't support shady stuff Integrity is more than a word