₦airaland Forum

elyonchee:
Before the new section in CAMA 2020 section 124 for minimum issued share capital came into being, the old CAMA 2004 in section 99, allowed company to issue 25% of their authorised share capital and allowed companies to reserve unissued shares for future shareholders. But the new CAMA in section 124, says that companies minimum issued share capital must be fully allotted and the shares allotted cannot be less than the issued share capital.
Therefore, CAC is giving old existing companies on or before 31st December, 2022 to fully allot all unissued shares or they will be forfeited and not considered part of the share capital again.
Old Companies that were registered before 2021fall under this category. They can issue their unissued shares by reallotment to new shareholders or if they don't have any new shareholders, they can cancel the unissued shares by reduction of share capital. Any company, that files after the deadline will pay penalty that is daily penalty.

elyonchee:
Delivery services involves the delivery of goods to door to door by road, air, railway or ship.
Under CAC Registration, delivery services can be registered as pick and delivery services, courier services,road transportation and haulage services, freight forwarding, logistics services and shipping company.
Courier services is the door to door delivery of goods to customers. It may involve delivery of small parcels like letters, grocery deliveries, document deliveries and other small packages.
Haulage services is the delivery of goods by road. Through trucks or cargo buses.
Freight forwarding is the planning and execution of delivery services by ship.
Shipping company involves the transportation of goods through ships.
Logistics is the managing, planning of the delivery of goods. It involves tracking the goods and making sure the goods arrive safely.
Courier or picup delivery, logistics and haulage services can be registered as a business name or limited by shares company. Freight forwarding has an authorized share capital of 5m and it must be registered as a limited by shares company.
Shipping company has an authorized share capital of 25m and must be registered as a limited by shares company.
So, if you decide to register any of these based on your ideas and money, you know which one to go for.
You can check my previous posts .
08117409752
08139095734

elyonchee:
Branding your business is not only building a business that will become a force to reckon with. Branding has to do with protecting your intellectual property and that is why trademarking your name or logo is important.
Your trademark name or logo becomes your trade name that distinguishes it from other businesses.
Use a unique trademark and not general trademark to protect your business.
Trademark is part of my business support services. Remember your trademark name can be different from the incorporated name. CAC is not in charge of trademark registration.
Email me at infofrankincenselegalservices@gmail.com
Call or WhatsApp: 08117409752

elyonchee:
KYC means Know your customer. Most banks adhere to KYC rules from CBN to checkmate companies by making sure all CAC documents that were produced during registration/incorporation is intact. They also make sure you produce utility bills for proof of address, tax identification number and IDs of all directors and shareholders or single director/shareholder or sole proprietor or partners or trustees. The KYC documents to be produced by entities depends on the business structure and also nature of business.
Some banks requirements include clarification of the nature of business, board resolution for companies and application to open a bank account.
The purpose is to conduct due diligence in order to verify the information filled in the application form for account opening. Where an account was opened for a company or business name and post Incorporation changes were made at CAC, make sure evidence of those changes, are submitted for update at the bank.
Where the documents are missing for account opening, make sure you file for ctc of the lost documents. Note companies, business names and incorporated trustees registered in 2021 and now are file less. Therefore, it is expected you keep your documents properly if your entity falls under 2021 till now. Make copies of the documents and store original copies in google drive or emails or properly file it in a box or shelf and tag for easy identification. Also scuml certificates to prevent anti-money laundering too for certain businesses.

elyonchee:
If you are a church, NGO, Association, Club and your CAC documents are missing, you can retrieve them through:
Ctc of Certificate
Ctc of Constitution
Status Report
Note: If your association is an old one, chances are the status report may not be updated.
Then, you have to do an update.
Update charges applies in addition with filing for ctc of lost documents.
WhatsApp: 08117409752
Call: 08139095734
Check my other posts

elyonchee:
Like I said earlier, certified true copies are the duplicates issued for the original missing documents.
So if you already have an incorporated limited by shares company and you misplaced the documents, you can file the application through an accredited agent.
The documents that will given
Ctc of certificate
Ctc of Memart
Status report
Note: Sometimes, the status report can be incomplete when there is no update. Especially for old limited by shares company.

Then update is usually done, update charges applies and it usually takes three months.
WhatsApp: 08117409752
Call: 08139095734

elyonchee:
Business name status report is a summary of what is contained in CAC records about the business name. Currently, CAC has stopped issuing certified true copies of CAC/BN1 for business names Registered prior to 2021. For business names Registered this year, the e-status report is the new business name form.
So if your business name form is missing, you can apply for a status report through a CAC accredited agent.
People ask can it be used to open a bank account, I believe the status report can be used to open a bank account because it literally contains the name of the proprietor, nature of business and the others.
For limited companies, it is only certified true copies of missing certificate or Memart which is the memorandum of association that contains the share capital, nature of businesses, shareholders and others.
Check my previous posts.

lightdream:
Thanks. How much is the charge through an agent?

elyonchee:
Schools and academies can no longer be registered as a business name. They will now be registered as a limited by shares company LTD. Schools give out certificate in their names and also enter contracts in their names, which is not applicable to business names. Also they last for a long time and their kids take over which gives school perpetual succession which also not applicable to business names. So therefore, CAC said all schools and academies must be registered as limited by shares company.

elyonchee:
Business name
Sole proprietorship:21500
Partnership:23500
Company registration
1m share capital: 53k for basic package
Standard package:70k
Basic package: Name reservation, registration, stamp duty and professional fees
Standard package: Name reservation, registration, stamp duty, printing out of documents and sending via courier and professional fees
2m share capital: 90k
5m share capital: 130k
10m: 350k
Registration of NGO, church and associations: 130k( you can pay three times for this )
Post incorporation services that I render
Recovery of lost CAC documents ctc documents
Filing of change of directors, shareholders and partners
Filing of annual returns and update of inactive status
Filing of secretary
Change of name for your entity
Alteration of your memorandum of association
Change of registered address
Other services
Company profiling, business plans, drafting of agreements and contracts, business letters and assisting with documents for contract bids.
Business advisory
You can WhatsApp 08117409752
Sms or call: 08139095734
Distance is not a barrier. Documents can be delivered to your location via WhatsApp or courier.
Courier charges applies.
Check my previous posts.

elyonchee:
Partnership is the best way to create a business relationship with other business like minds or other businesses.
Partnerships are created for the purpose of managing a business or attracting clients or customers or introducing a new product or entering into a large market or emerging market to earn profits or share in the losses.
You can register a partnership through business name(partnership)
Limited partnership
Limited Liability Partnership
Note: A foreigner cannot be a partner in a business name and limited partnership.
Check my previous posts
08117409752 for business registrations and post incorporation changes or recovering your lost CAC documents.

elyonchee:
It is still going on till the 28th of this month

elyonchee:
In the spirit of love, the best gift will be more clients. So there will be discount in company registration next month.
For sole proprietorship business name will be 21500 and 1m share capital company will be 52 for basic package.
The beauty of having a registered entity is having a legal business, be able to do contracts and enter into business partnerships, create a legacy for your kids and for companies buy assets, have a long lasting business.
Check my previous posts.
Distance is not a barrier to send your incorporated documents.

elyonchee:
In the spirit of love, the best gift will be more clients. So there will be discount in company registration next month.
For sole proprietorship business name will be 21500 and 1m share capital company will be 52 for basic package.
The beauty of having a registered entity is having a legal business, be able to do contracts and enter into business partnerships, create a legacy for your kids and for companies buy assets, have a long lasting business.
Check my previous posts.
Distance is not a barrier to send your incorporated documents.