Incorporating a company requires some thought. We decided to share some points to assist your thought process as an intending company owner:

1. Is the corporate structure the most suitable for your business?

Under the Nigerian Company laws, there are many options available when making a registration decision. Asides Companies, there are business names (sole proprietorships or partnerships), limited partnerships and the likes. These offer more flexible management structures and are not subject to significant reporting, or compliance requirements.

Ask yourself: Do you intend to own and issue shares in your business? Do you envisage that your business is best served by a rigid managerial structure? Are you ready to comply with the strict reporting and compliance regulations, including tax at this time?

It is advisable to make an informed decision and chose the business structure best suited for your business at the time. There is always the room to change the structure subsequently with Corporate Affairs Commission (CAC).

Business Legal comprises competent professionals readily available to proving bespoke professional advice and business support for your businesses. For enquires, visit our website at www.businesslegal.ng