₦airaland Forum

elyonchee:
Travel and tour agencies must be incorporated with 30m share capital. This is according to IATA regulations.
Therefore, the minimum share capital for Travel and Tour is 30m. The share capital is issued and not paid as physical cash. It is only allocated to shareholders.
Musa Adi—15,000,000 ordinary shares
Afiz Adi------ 15,000,000 ordinary shares
Total: 30,000,000 ordinary shares
Now, due to the amount of share capital required, it is always difficult for some people to come up with the fees or charges.
Some of the potential clients end up abandoning the idea of ever owning a travel and tour business.
Indeed, you may not be able to register it if you have a limited budget, but there are alternative businesses you can open that can lead you to partner with an already incorporated agency.
1. Hospitality services: This type of business involves concierge services, hotel and short-let services, catering services, shuttle services, and other guest services.
Please note the words travel or tour must not appear in the name or objects.
1. Hospitality services can be registered as either a business name or a limited share company.
Gigi Nadal Concierge Services
Mkpon Luxury Short-Stay Apartment
Dido Fine Hotels and Shuttle Services
Bimbo Lounge and catering services
Milliken Chauffeur Services
2. Foreign Airline Agent: The minimum share capital for agents of foreign airlines is 1 million share capital.
If you have partnered with foreign airlines such as Turkish Airlines, Lufthansa, Rwanda Airlines, British Airways, EgyptAir, and the rest for the processing of tickets and reservations solely for their airlines, then you can register a company as an agent of foreign airlines.
E.g., Murasaki Foreign Airline Agents Limited
Sariki Company Limited
Please do not add travel or tours.
3. Ticket and Reservation Business: If you are so good or you have been trained to use Amadeus, Sabre Galileo or any other travel ticket booking sites, you can register a ticket and reservation service.
E.g, Mobo Rick Ticket and Reservation Creations
Vividics Events and Tickets Concept
Morayo Schedules and Reservation Services
Yes, the above are business names, meaning you can register them as a business name.
You can also register as a limited by-share company.
4. Educational services: If you used to render both international admissions and facilitate the study permit application process inclusive of your client's travel visa documents, you know you can't add travel because of the 30m share capital and your inability to fund the same.
So, why not register it as an education limited by shares company?
Nuban Adam Academy
To carry on the business of educational services such as international admissions processing, and study preparation classes through online learning platforms.
Please note that you must have a Teachers Registration Council of Nigeria Certificate as a proficiency certification to show that you were professionally trained as an educator.
5. Business support or Virtual Assistant services:
You can register a virtual assistant service business to render consulting services for clients as a travel virtual assistant. But remember, don't use the word travel.
Instead, register business support or virtual assistant service business and then use booking apps to help with clients' bookings. You can also engage in travel itineraries and planning.
Note you won't add travel planning and itineraries.
For example: Mubina Remote Services
Virtual Administrative Services
Or Mubina Remote Ventures Ltd
To carry on the business of virtual assistant and consulting services.
After registration, you can leverage on using booking apps and other virtual assistant tools like Google workspace for your business.
Note: A proficiency certificate is required for the above.
So, there you have it. I just listed these five alternatives to travel and tour agency registration when you have a limited budget. But if you can afford a travel and tour agency registration, please by all means go for it.
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