Everything About Registering A Company In Nigeria: Step By Step Guide - Business (4) - Nairaland
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| Re: Everything About Registering A Company In Nigeria: Step By Step Guide by jefy(m): 7:23am On Feb 17, 2019 |
omogidi234:Hello all, glad i stumbled on this post. Plz, i'll be most humbled if these burning questions are tackled as itemized. Thanks in anticipation. 1. What are the consequences of registering your business or company? 2. For business name,which do you obtain VAT OR TIN NO? And what is the implication of obtaining these? 3. Where do you obtain your TIN & VAT from? State inland revenue service or FIRS? 4. On the business registration form,u are asked to input your business start date, if ur business kick start on a later year other than d stated date,what is the implication? 5. Which banks will you recommend in opening a cooperate account?What are the steps in opening a BN or an LTD cooperate account and what are the implication of operating a cooperate business account? 6. Can a cooperative be registered with the c.a.c? Can it be registered as an LTD? Thanks all for you anticipated responses... |
| Re: Everything About Registering A Company In Nigeria: Step By Step Guide by omogidi234(m): 10:15am On Feb 17, 2019 |
jefy:This early Sunday morning! I wrote JAMB about 2 decades ago biko. It is joke oh! Let me try to answer, I am sure others here would throw more light. 1. The whole essence of registering a company or business name is to have a distinct corporate entity different from humans but have capacity like humans by the instrumentality of the law. It also takes away the burden and liability off your neck. Like they said ' chop alone, die alone'. It increases the survival of an idea as registered companies usually survive its promoters. The advantages are not so promoted in business names as much as companies, because business name is still regarded as you carrying on business under the name and style....., the truth however, is that it still better than not registering. 2. VAT is value added tax while TIN is tax identification number. Once you register your company, the next thing is to register with tax authorities who would give you TIN without which you cannot open bank account. By the way VAT is 5% charges payable to Federal Government of Nigeria. It is chargeable on all consumption and services rendered by your company. 3. It is FIRS that is in charge of VAT & TIN, you would go to the nearest office of FIRS to your company address. 4. The way business name registration is done online is that you have to input a date later than registration date otherwise, the system would not allow the registration go through. 5. You can open account with any bank. But before recession, FCMB, Diamond Bank and Eco Bank were good at giving loan to SME. I have used the square logo bank for years, you would always meet your money in your account but they scarcely give loan. The bank would give you the requirement but it should be opening balance and CTC of company documents. 6. Co-op are registered by the State Government. So you don't have any business with CAC. However, if you desire to register with CAC, like JEFY Co-Operative Society Ltd but after CAC registration, you still have to register with State Government to operate as a. Co-op. |
| Re: Everything About Registering A Company In Nigeria: Step By Step Guide by jefy(m): 10:30am On Feb 17, 2019 |
omogidi234:thanks bro for the timely response and mention. Jah bless. Does that mean d state inland revenue service can not issue out TIN/VAT? What happens when i register my business for years without operating? What's d down side to biz registration and Tin/vat reg since my biz is not in operation? That aside,how do u register a school? |
| Re: Everything About Registering A Company In Nigeria: Step By Step Guide by DeConsultant: 11:55am On Feb 17, 2019 |
jefy:Let me come in, as per TIN/VAT, as omogidi234 have rightly stated, TIN (Tax Identification Number) and VAT (Value Added Tax) are two different tax terminology, though when a company apply for TIN registration with the FIRS (Federal Revenue Agency) a VAT letter is issued by the FIRS to the applicant company. VAT is an indirect & consumption tax which is levied on the consumer, receiver or the buyer of a goods or services. This means, when a customer comes over to buy a commodity of N100, an addition fee of N5 will be added to the cost price to make it a selling price of N105. The extra N5 is the VAT in that transaction. The seller or the company owes the government a duty to sum up all the 5% VAT collected in all transactions within a month and pay it to the FIRS designed bank on or before 21st of the preceding month. These means the VAT payment of January must be paid on or before the 21st of February. While that of February will be paid on or before 21st of March and subsequently. VAT/TIN/CIT are tax dealing with the Federal Inland Revenue Service. The State Government does not have any legal jurisdiction to collect such taxes, as all statutes that enforces such taxes are vested upon the FIRS. The State Revenue Service (LIRS for Lagos et al) are empowered to collect all PIT/PAYE (Personal Income Tax/ Pay As You Earn) from all taxpayers. This is an aggregate amount of an individual income or salary, where you earn N300,000 or less, 7% is charged and the higher you earn the more you are liable to pay. In Abuja, all PIT/PAYE are paid and filed to the FIRS, as there is no State Revenue body there. One will wonder why people will register a company in Nigeria and not operate, but my experience as a Corporate/Tax Consultant i have heard several reasons, though some are genuine but everyone has a reasons why they choose to register a company with the Commission. These are some of the challenges of registering a company and not operating it: 1. Firstly, as company that is registered, CAC expect you to file ANNUAL RETURNS after 18months of incorporation for a Limited Company, while for a Business Name, you must start filing it after the year of registration. Failure or default will lead to penalties based on amount of years that the default is been perpetuated or committed. It might as well interest you that an IINCORPORATED TRUSTEES/NGO/CHURCH/FOUNDATION is also expected to file it ANNUAL RETURNS in the same manner as a business name. 2. Secondly, the FIRS also will also be expecting you to file your VAT to them monthly for a business name & VAT/CIT for a Limited Company. Excuse of not operating is not enough. What i do for my clients that are yet to operate or commence business is that i go to their MSTO and file Nil (No Business) on behalf of the company. This is kept in their file at the company MSTO (Medium Small Tax Office), I keep doing this until when the client notify me that he has commence business. However, if you have a company that have not commence business and as a result of this, the company have not file its VAT returns, as soon as the company want to commence business, i strongly advice that the tax consultant go to the company MSTO, meet with the tax officer in charge of the company and reach out an agreement on the status of the company. Finally, a school can either be registered as a business name or a Limited Company, though CAC (Commission) have stopped demanding for proficiency certificate like N.C.E for Nursery/Primary School and B.ED for Secondary School, M.ED for Post School School. Because of the State Government accreditation process and other necessary registration, i will advise that one of the proprietor if its a business name or a director thats in a Limited Company to have the relevant educational proficiency certificate. Contact Gomez Corporate Consult LTD by visiting our website: www.gomezconsult.com; call/Whatsapp us on 08107804290 or 08102794272; mail us on info@gomezconsult.com. Thanks. |
| Re: Everything About Registering A Company In Nigeria: Step By Step Guide by xyz123456: 4:27pm On Feb 17, 2019 |
DeConsultant:I sent message on WhatsApp |
| Re: Everything About Registering A Company In Nigeria: Step By Step Guide by DeConsultant: 9:35pm On Feb 18, 2019 |
xyz123456:Okay Sir, we have responded. Thanks for choosing Gomez Corporate Consult Ltd. For all corporate registration, contact Gomez Corporate Consult LTD by visiting our website: www.gomezconsult.com; call/Whatsapp us on 08107804290 or 08102794272; mail us on info@gomezconsult.com. Thanks. Some of our services at affordable cost: Business Name Registration: N15,000 (Certificate will be out within 5 working days) Limited Liability Company (1 million share capital): N50,000 (Certificate will be out within 5 Working days) Incorporated Trustees (NGO, Church, Mosque, Foundation, Club, Initiatives): N100,000 (Certificate will be out within 30 days (inclusive of the mandatory 28 days for public opinion). |
| Re: Everything About Registering A Company In Nigeria: Step By Step Guide by jefy(m): 9:58pm On Feb 18, 2019 |
DeConsultant:wow,detailed and elaborate. I have learnt alot from these posts. Thanks alot |
| Re: Everything About Registering A Company In Nigeria: Step By Step Guide by DeConsultant: 6:39pm On Feb 19, 2019 |
jefy:Thanks for the good words. We appreciate. Contact Gomez Corporate Consult LTD by visiting our website: www.gomezconsult.com; call/Whatsapp us on 08107804290 or 08102794272; mail us on info@gomezconsult.com. Some of our services at affordable cost: Business Name Registration: N15,000 (Certificate will be out within 5 working days) Limited Liability Company (1 million share capital): N50,000 (Certificate will be out within 5 Working days) Incorporated Trustees (NGO, Church, Mosque, Foundation, Club, Initiatives): N100,000 (Certificate will be out within 30 days (inclusive of the mandatory 28 days for public opinion). |
| Re: Everything About Registering A Company In Nigeria: Step By Step Guide by jefy(m): 9:42pm On Feb 19, 2019 |
DeConsultant:thanks again, i shall have these in mind,when the need arises.. Gracias |
| Re: Everything About Registering A Company In Nigeria: Step By Step Guide by DeConsultant: 9:57pm On Feb 20, 2019 |
Our mission is to serve as a corporate guide to all SMEs & emerging company promoters using our company registration, intellectual properties, taxation, post-incorporation & specialized registration services model at an affordable & time-bound process. We assisted clients/ promoters in the following areas: 1. Company Registration (Business Name & Partnership) 2. Limited by Shares Companies (Private Limited Company, Public Limited Company, Unlimited Company, Limited by Guarantee) 3. Incorporated Trustees (Foundation, NGO, Club, Church, Initiative etc) 4. Intellectual Properties (Trademark, Patents, Specialized Designs) 5. Taxation (TIN Application, TCC Application, CIT Filings, VAT Filings etc) 6. EFCC SCUML Application 7. NAFDAC Registration 8. Post Incorporation Services (Annual Returns, Removal or Appointment of Directors, Alteration to the Memart etc) 9. Corporate Services (Consent Code Application, Company Search etc) 10. Consulting Services (Assisting clients/promoters who have ongoing/pending registrations at a subsidized fees). Some of our services at affordable cost: Business Name Registration: N15,000 (Certificate will be out within 5 working days) Limited Liability Company (1 million share capital): N50,000 (Certificate will be out within 5 Working days) Incorporated Trustees (NGO, Church, Mosque, Foundation, Club, Initiatives): N100,000 (Certificate will be out within 30 days (inclusive of the mandatory 28 days for public opinion). Contact Gomez Corporate Consult LTD by visiting our website: www.gomezconsult.com; call/Whatsapp us on 08107804290 or 08102794272; mail us on info@gomezconsult.com.
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| Re: Everything About Registering A Company In Nigeria: Step By Step Guide by Impactever(m): 12:14am On Feb 21, 2019 |
DeConsultant:Nice one |
| Re: Everything About Registering A Company In Nigeria: Step By Step Guide by DeConsultant: 6:17am On Feb 22, 2019 |
3 days ago, a lady called us to assist her register a proposed company name & she gave us two names. However, CAC (Commission) deemed fit HOUSE OF LAMMY & approved it that day (Tuesday). Our professionals immediately acted and yesterday (Wednesday) we got this. In Gomez Corporate Consult LTD, every company promoter’s registration is deem important & essential. Contact us for your 2 days corporate registration & it’s cheaper. We assisted clients/ promoters in the following areas: 1. Company Registration (Business Name & Partnership) 2. Limited by Shares Companies (Private Limited Company, Public Limited Company, Unlimited Company, Limited by Guarantee) 3. Incorporated Trustees (Foundation, NGO, Club, Church, Initiative etc) 4. Intellectual Properties (Trademark, Patents, Specialized Designs) 5. Taxation (TIN Application, TCC Application, CIT Filings, VAT Filings etc) 6. EFCC SCUML Application 7. NAFDAC Registration 8. Post Incorporation Services (Annual Returns, Removal or Appointment of Directors, Alteration to the Memart etc) 9. Corporate Services (Consent Code Application, Company Search etc) 10. Consulting Services (Assisting clients/promoters who have ongoing/pending registrations at a subsidized fees). Some of our services at affordable cost: Business Name Registration: N15,000 (Certificate will be out within 5 working days) Limited Liability Company (1 million share capital): N50,000 (Certificate will be out within 5 Working days) Incorporated Trustees (NGO, Church, Mosque, Foundation, Club, Initiatives): N100,000 (Certificate will be out within 30 days (inclusive of the mandatory 28 days for public opinion). Contact Gomez Corporate Consult LTD by visiting our website: www.gomezconsult.com; call/Whatsapp us on 08107804290 or 08102794272; mail us on info@gomezconsult.com.
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| Re: Everything About Registering A Company In Nigeria: Step By Step Guide by DeConsultant: 10:39am On Feb 23, 2019 |
As a corporate firm, Gomez Corporate Consult LTD do not just assist clients & company promoters to get their companies registered with Commission (CAC). We move a step further by helping with tax registrations, filings and ensure that all companies within our domain can have all the necessary documents to open a corporate bank account. We also prompt them on the need to comply to all their statutory duties with the different Revenue bodies. We assisted clients/ promoters in the following areas: 1. Company Registration (Business Name & Partnership) 2. Limited by Shares Companies (Private Limited Company, Public Limited Company, Unlimited Company, Limited by Guarantee) 3. Incorporated Trustees (Foundation, NGO, Club, Church, Initiative etc) 4. Intellectual Properties (Trademark, Patents, Specialized Designs) 5. Taxation (TIN Application, TCC Application, CIT Filings, VAT Filings etc) 6. EFCC SCUML Application 7. NAFDAC Registration 8. Post Incorporation Services (Annual Returns, Removal or Appointment of Directors, Alteration to the Memart etc) 9. Corporate Services (Consent Code Application, Company Search etc) 10. Consulting Services (Assisting clients/promoters who have ongoing/pending registrations at a subsidized fees). Some of our services at affordable cost: Business Name Registration: N15,000 (Certificate will be out within 5 working days) Limited Liability Company (1 million share capital): N50,000 (Certificate will be out within 5 Working days) Incorporated Trustees (NGO, Church, Mosque, Foundation, Club, Initiatives): N100,000 (Certificate will be out within 30 days (inclusive of the mandatory 28 days for public opinion). Contact Gomez Corporate Consult LTD by visiting our website: www.gomezconsult.com; call/Whatsapp us on 08107804290 or 08102794272; mail us on info@gomezconsult.com.
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| Re: Everything About Registering A Company In Nigeria: Step By Step Guide by DeConsultant: 9:11am On Feb 28, 2019 |
Trademarks are symbol, images, barcode, designs or words legally registered or established by use as representing a company or product. Gomez Corporate Consult LTD as an accredited firm have assisted several companies to register their MARK with the Commercial Law Department, Ministry of Trade, Investment & Commerce. We assisted clients/ promoters in the following areas: 1. Company Registration (Business Name & Partnership) 2. Limited by Shares Companies (Private Limited Company, Public Limited Company, Unlimited Company, Limited by Guarantee) 3. Incorporated Trustees (Foundation, NGO, Club, Church, Initiative etc) 4. Intellectual Properties (Trademark, Patents, Specialized Designs) 5. Taxation (TIN Application, TCC Application, CIT Filings, VAT Filings etc) 6. EFCC SCUML Application 7. NAFDAC Registration 8. Post Incorporation Services (Annual Returns, Removal or Appointment of Directors, Alteration to the Memart etc) 9. Corporate Services (Consent Code Application, Company Search etc) 10. Consulting Services (Assisting clients/promoters who have ongoing/pending registrations). Some of our services at affordable cost: Business Name Registration: N15,000 (Certificate will be out within 5 working days) Limited Liability Company (1 million share capital): N50,000 (Certificate will be out within 5 Working days) Incorporated Trustees (NGO, Church, Mosque, Foundation, Club, Initiatives): N100,000 (Certificate will be out within 32 days (inclusive of the mandatory 28 days for public opinion). Contact us by visiting our website: www.gomezconsult.com; call us on 08107804290 or 08102794272; mail us on info@gomezconsult.com. Some applications commence this week
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| Re: Everything About Registering A Company In Nigeria: Step By Step Guide by konews: 2:11pm On Feb 28, 2019 |
Some people don’t know how to register their businesses in Nigeria, but before we tell you how to register your company we will first tell you what a company is. A company is a try of corporate structure whereby the legal status of the business is separated from the proprietor/ promoter of the business. A company has something that is called corporate personality. Registering a company has it benefits. http://www.konews.com.ng/steps-on-how-to-register-a-company-in-nigeria/ |
| Re: Everything About Registering A Company In Nigeria: Step By Step Guide by DeConsultant: 11:30am On Mar 01, 2019 |
Do you have an idea, specific objective, social group, club, association, foundation or voluntary movement, NGO, Church, Initiative? Do you know it can be incorporated as an initiative, fund, association, foundation & the organization will not be taxed by the Revenue bodies? Do you know it is registered under the INCORPORATED TRUSTEES class. And it involves the following requirements like minimum of 2 trustees, publication in two national dailies, 28 days public notice after the publication, iron seal, constitution, minutes of last meeting etc. We assisted clients/ company promoters in the following areas: 1. Company Registration (Business Name & Partnership) 2. Limited by Shares Companies (Private Limited Company, Public Limited Company, Unlimited Company, Limited by Guarantee) 3. Incorporated Trustees (Foundation, NGO, Club, Church, Initiative etc) 4. Intellectual Properties (Trademark, Patents, Specialized Designs) 5. Taxation (TIN Application, TCC Application, CIT Filings, VAT Filings etc) 6. EFCC SCUML Application 7. NAFDAC Registration 8. Post Incorporation Services (Annual Returns, Removal or Appointment of Directors, Alteration to the Memart etc) 9. Corporate Services (Consent Code Application, Company Search etc) 10. Consulting Services (Assisting clients/promoters who have ongoing/pending registrations at a subsidized fees). Some of our services at affordable cost: Business Name Registration: N15,000 (Certificate will be out within 5 working days) Limited Liability Company (1 million share capital): N50,000 (Certificate will be out within 5 Working days) Incorporated Trustees (NGO, Church, Mosque, Foundation, Club, Initiatives): N100,000 (Certificate will be out within 30 days (inclusive of the mandatory 28 days for public opinion). Contact Gomez Corporate Consult LTD by visiting our website: www.gomezconsult.com; call/Whatsapp us on 08107804290 or 08102794272; mail us on info@gomezconsult.com.
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| Re: Everything About Registering A Company In Nigeria: Step By Step Guide by DeConsultant: 8:41am On Mar 03, 2019 |
In Gomez Corporate Consult LTD, our expertise and professional services range across variety of corporate registrations and consultancy in Nigeria. Our pursuit is to offer on-spot corporate assistance and meet the needs of relevant SMEs, clients & company promoters in Nigeria & Diaspora. We assisted clients/ promoters in the following areas: 1. Company Registration (Business Name & Partnership) 2. Limited by Shares Companies (Private Limited Company, Public Limited Company, Unlimited Company, Limited by Guarantee) 3. Incorporated Trustees (Foundation, NGO, Club, Church, Initiative etc) 4. Intellectual Properties (Trademark, Patents, Specialized Designs) 5. Taxation (TIN Application, TCC Application, CIT Filings, VAT Filings etc) 6. EFCC SCUML Application 7. NAFDAC Registration 8. Post Incorporation Services (Annual Returns, Removal or Appointment of Directors, Alteration to the Memart etc) 9. Corporate Services (Consent Code Application, Company Search etc) 10. Consulting Services (Assisting clients/promoters who have ongoing/pending registrations). Some of our services at affordable cost: Business Name Registration: N15,000 (Certificate will be out within 5 working days) Limited Liability Company (1 million share capital): N50,000 (Certificate will be out within 5 Working days) Incorporated Trustees (NGO, Church, Mosque, Foundation, Club, Initiatives): N100,000 (Certificate will be out within 32 days (inclusive of the mandatory 28 days for public opinion). Contact us by visiting our website: www.gomezconsult.com; call us on 08107804290 or 08102794272; mail us on info@gomezconsult.com.
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| Re: Everything About Registering A Company In Nigeria: Step By Step Guide by DeConsultant: 2:01pm On Mar 10, 2019 |
Do you have an existing company that you want to reconstruct? Do you know that there are legal requirements for removing or appointing or replacing a director in a registered company? Do you know Gomez Corporate Consult LTD is a registered accredited agent with the CAC? Do you also know that we can help you facilitate any post incorporation or reconstruction within 5-7 working days? We assisted clients/ promoters in the following areas: 1. Company Registration (Business Name & Partnership) 2. Limited by Shares Companies (Private Limited Company, Public Limited Company, Unlimited Company, Limited by Guarantee) 3. Incorporated Trustees (Foundation, NGO, Club, Church, Initiative etc) 4. Intellectual Properties (Trademark, Patents, Specialized Designs) 5. Taxation (TIN Application, TCC Application, CIT Filings, VAT Filings etc) 6. EFCC SCUML Application 7. NAFDAC Registration 8. Post Incorporation Services (Annual Returns, Removal or Appointment of Directors, Alteration to the Memart etc) 9. Corporate Services (Consent Code Application, Company Search etc) 10. Consulting Services (Assisting clients/promoters who have ongoing/pending registrations at a subsidized fees). Some of our services at affordable cost: Business Name Registration: N15,000 (Certificate will be out within 5 working days) Limited Liability Company (1 million share capital): N50,000 (Certificate will be out within 5 Working days) Incorporated Trustees (NGO, Church, Mosque, Foundation, Club, Initiatives): N100,000 (Certificate will be out within 30 days (inclusive of the mandatory 28 days for public opinion). Contact Gomez Corporate Consult LTD by visiting our website: www.gomezconsult.com; call/Whatsapp us on 08107804290 or 08102794272; mail us on info@gomezconsult.com.
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| Re: Everything About Registering A Company In Nigeria: Step By Step Guide by DeConsultant: 9:17am On Mar 17, 2019 |
SAJIDAS LTD is a newly registered company, inline with the objectives of the company promoter to apply or get a corporate bank account. Gomez Corporate Consult LTD not only assisted in registering the company, we move further in applying for the TIN (Tax Identification Number) for the newly registered company and got the VAT letter as an acknowledgement. Are you thinking of owning or operating a corporate or company account, why not give us a call today on 08107804290 or info@gomezconsult.com or visitwww.gomezconsult.com for questions or inquiries now. We assisted clients/ promoters in the following areas: 1. Company Registration (Business Name & Partnership) 2. Limited by Shares Companies (Private Limited Company, Public Limited Company, Unlimited Company, Limited by Guarantee) 3. Incorporated Trustees (Foundation, NGO, Club, Church, Initiative etc) 4. Intellectual Properties (Trademark, Patents, Specialized Designs) 5. Taxation (TIN Application, TCC Application, CIT Filings, VAT Filings etc) 6. EFCC SCUML Application 7. NAFDAC Registration 8. Post Incorporation Services (Annual Returns, Removal or Appointment of Directors, Alteration to the Memart etc) 9. Corporate Services (Consent Code Application, Company Search etc) 10. Consulting Services (Assisting clients/promoters who have ongoing/pending registrations at a subsidized fees). Some of our services at affordable cost: Business Name Registration: N15,000 (Certificate will be out within 5 working days) Limited Liability Company (1 million share capital): N50,000 (Certificate will be out within 5 Working days) Incorporated Trustees (NGO, Church, Mosque, Foundation, Club, Initiatives): N100,000 (Certificate will be out within 32 days (inclusive of the mandatory 28 days for public opinion). Contact us by visiting our website: www.gomezconsult.com; call us on 08107804290 or 08102794272; mail us on info@gomezconsult.com. Some applications commence this week
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| Re: Everything About Registering A Company In Nigeria: Step By Step Guide by DeConsultant: 1:17pm On Mar 24, 2019 |
8 days to go! Our price slash offer in lieu with the Federal Government discount on Company Registrations will soon be over. Take advantage now!! We assisted clients/ promoters in the following areas: 1. Company Registration (Business Name & Partnership) 2. Limited by Shares Companies (Private Limited Company, Public Limited Company, Unlimited Company, Limited by Guarantee) 3. Incorporated Trustees (Foundation, NGO, Club, Church, Initiative etc) 4. Intellectual Properties (Trademark, Patents, Specialized Designs) 5. Taxation (TIN Application, TCC Application, CIT Filings, VAT Filings etc) 6. EFCC SCUML Application 7. NAFDAC Registration 8. Post Incorporation Services (Annual Returns, Removal or Appointment of Directors, Alteration to the Memart etc) 9. Corporate Services (Consent Code Application, Company Search etc) 10. Consulting Services (Assisting clients/promoters who have ongoing/pending registrations at a subsidized fees). Some of our services at affordable cost: Business Name Registration: N15,000 (Certificate will be out within 5 working days) Limited Liability Company (1 million share capital): N50,000 (Certificate will be out within 5 Working days) Incorporated Trustees (NGO, Church, Mosque, Foundation, Club, Initiatives): N100,000 (Certificate will be out within 30 days (inclusive of the mandatory 28 days for public opinion). Contact Gomez Corporate Consult LTD by visiting our website: www.gomezconsult.com; call/Whatsapp us on 08107804290 or 08102794272; mail us on info@gomezconsult.com. Some company registrations conducted this week...
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| Re: Everything About Registering A Company In Nigeria: Step By Step Guide by DeConsultant: 10:11am On Apr 07, 2019 |
As regards the conversion of a business name to a private limited company (LTD). The truth is that there is no provision in CAMA (Company Allied Matters Act) for a business name to be converted or upgraded to a private limited company. Note: In CAMA, business name is Class B, going through the Class B, one will observe that the only form of conversion admitted is from a sole proprietor (One man business) to a partnership (two or more proprietors in a business or firm). I feel this should rest the issue or motion for a legal provision for conversion or upgrade from a business name to a private limited company. However, based on practice and experience, there are other opportunities for company promoters who have an existing business name and so wish to have a private limited company on the existing company name. I will streamline it to two: 1. Application for cessation of the existing business name. In this case, lets imagine you own a company name called EXCLUSIVE GENERAL CONSULT, you so wish and need a limited company on this same name. What you will do in this first option is apply to CAC with all necessary requirements to cease the existing company name, having fulfill all the requirements the CAC will remove the company name (EXCLUSIVE GENERAL CONSULT) from their business name registry. Then immediately, you will have to start the incorporation process of EXCLUSIVE GENERAL CONSULT LIMITED as a new limited company. Note: Based on experience, even with the cessation of existing business name, you might still not get the EXCLUSIVE GENERAL CONSULT LIMITED approved, because if you do a public search on the name, you might find similar or identical names like EXCLUSIVE GENERAL INTEGRATED CONCEPT LTD or EXCLUSIVE CONSULT CONCEPT LTD etc. company names like this may make the efforts in getting the former business name to a limited company abortive. So it is a 50/50 chance. 2. The use of more words to the existing business name to get a desired limited company. Still the existing EXCLUSIVE GENERAL CONSULT, the company promoter will have to add more words to make the limited company look like EXCLUSIVE INTEGRATED CONSULT SERVICES LTD or EXCLUSIVE MULTIGLOBAL CONSULT CONCEPT LTD etc. Remember, all you have to do is to add more words to distinct it from the existing business name and end it with a LTD or LIMITED, which the company promoter will officially incorporate as a Limited Company. This option gives you the opportunity to lay claim to the existing business name and a new limited company with the similar name like that of the business name. So this far better as a personal opinion. We assisted clients/ promoters in the following areas: 1. Company Registration (Business Name & Partnership) 2. Limited by Shares Companies (Private Limited Company, Public Limited Company, Unlimited Company, Limited by Guarantee) 3. Incorporated Trustees (Foundation, NGO, Club, Church, Initiative etc) 4. Intellectual Properties (Trademark, Patents, Specialized Designs) 5. Taxation (TIN Application, TCC Application, CIT Filings, VAT Filings etc) 6. EFCC SCUML Application 7. NAFDAC Registration 8. Post Incorporation Services (Annual Returns, Removal or Appointment of Directors, Alteration to the Memart etc) 9. Corporate Services (Consent Code Application, Company Search etc) 10. Consulting Services (Assisting clients/promoters who have ongoing/pending registrations at a subsidized fees). Some of our services at affordable cost: Business Name Registration: N25,000 (Certificate will be out within 5 working days) Limited Liability Company (1 million share capital): N70,000 (Certificate will be out within 5 Working days) Incorporated Trustees (NGO, Church, Mosque, Foundation, Club, Initiatives): N120,000 (Certificate will be out within 30 days (inclusive of the mandatory 28 days for public opinion). Contact Gomez Corporate Consult LTD by visiting our website: www.gomezconsult.com; call us on 08107804290 or 08102794272; mail us on info@gomezconsult.com now. Some recent registration/incorporation...
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| Re: Everything About Registering A Company In Nigeria: Step By Step Guide by DeConsultant: 8:38am On Apr 14, 2019 |
The whole idea behind the share capital of a company evolves around the actually value of a Limited company at any point in time. According to CAMA, the minimum share capital of a a Private Limited Company is actually N10,000. That’s the minimum value or amount that could get a normal or average private Limited company to startup in 1991, when the CAMA Act was enacted. It might interest you to know that the minimum share capital of a private limited company is still N10,000 according to statutes or by law (CAMA) but because of some economic indices like standard of living, purchasing power, inflation etc. The Nigerian citizens created or pegged their own minimum share capital at N1,000,000 now, whereas in CAMA the minimum share capital for a private limited company is still N10,000. The minimum share Capital is a term in my own opinion, is the minimum value or amount that the owners (shareholders) of the company can invest in a company to make it commence operation. This is the minimum amount that will cover operational or overhead expenses and assets to make a normal or average company kick start. That is, having in mind the cost of company registration, the office space, the furniture & fittings, PPE, Secretary salary etc. the minimum share capital of a company must be able to cover all this expenses at least for the company to start something. Except in few circumstances or industries, like banking, aviation, maritime, travels and tours or other highly regulated industries. The share capital of a company may not be fully PAID UP by the shareholders of a company at the beginning. What this means is that, I might choose to register my company with a share capital of N300 million but just have N20 million in liquidity. I can be called to pay up at any point in time by the company, either myself as a director or assigned directors (if the shareholders aren’t the same people acting as directors). The bottom line is that whatever share capital the company is subscribing to, it must have the capacity to overtime generate the actual liquidity of it to fund the operations of the company businesses, it may not be immediate but it can’t be called or paid up as the company operations expand. Therefore, if a company subscribe to N1,000,000 share Capital, it does not really mean the owners of the company must have the fully money or CAC will be monitoring your bank statement, what it means is that the owners of the company have valued their company’s capital to be N1,000,000 and it can be paid or release in batches. In conclusion, you do not need to have N1,000,000 in cash at hand or bank to registered a N1,000,000 share capital company instead all you need is to know that you have valued the capital needed to run or operate the company to be N1,000,000 and you will need to keep financing the company with the value in mind. Most a time, the shareholders of the N1,000,000 even get to spend more than N1,000,000 to startup or commence operations for the company businesses. Though there are exceptions but for a private limited company with a share capital of N1,000,000 you do not need the N1,000,000 in liquidity immediately. We assisted clients/ promoters in the following areas: 1. Company Registration (Business Name & Partnership) 2. Limited by Shares Companies (Private Limited Company, Public Limited Company, Unlimited Company, Limited by Guarantee) 3. Incorporated Trustees (Foundation, NGO, Club, Church, Initiative etc) 4. Intellectual Properties (Trademark, Patents, Specialized Designs) 5. Taxation (TIN Application, TCC Application, CIT Filings, VAT Filings etc) 6. EFCC SCUML Application 7. NAFDAC Registration 8. Post Incorporation Services (Annual Returns, Removal or Appointment of Directors, Alteration to the Memart etc) 9. Corporate Services (Consent Code Application, Company Search etc) 10. Consulting Services (Assisting clients/promoters who have ongoing/pending registrations at a subsidized fees). Some of our services at affordable cost: Business Name Registration: N25,000 (Certificate will be out within 5 working days) Limited Liability Company (1 million share capital): N70,000 (Certificate will be out within 5 Working days) Incorporated Trustees (NGO, Church, Mosque, Foundation, Club, Initiatives): N120,000 (Certificate will be out within 30 days (inclusive of the mandatory 28 days for public opinion). Contact Gomez Corporate Consult LTD by visiting our website: www.gomezconsult.com; call us on 08107804290 or 08102794272; mail us on info@gomezconsult.com now. Some of the company registrations conducted this week.
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| Re: Everything About Registering A Company In Nigeria: Step By Step Guide by DeConsultant: 5:56pm On Apr 21, 2019 |
From Gomez Corporate Consult LTD to all our esteemed clients and company promoters, we wish you Happy Easter Celebrations. This season will bring about Christ grace, love and favor upon our lives. We assisted clients/ promoters in the following areas: 1. Company Registration (Business Name & Partnership) 2. Limited by Shares Companies (Private Limited Company, Public Limited Company, Unlimited Company, Limited by Guarantee) 3. Incorporated Trustees (Foundation, NGO, Club, Church, Initiative etc) 4. Intellectual Properties (Trademark, Patents, Specialized Designs) 5. Taxation (TIN Application, TCC Application, CIT Filings, VAT Filings etc) 6. EFCC SCUML Application 7. NAFDAC Registration 8. Post Incorporation Services (Annual Returns, Removal or Appointment of Directors, Alteration to the Memart etc) 9. Corporate Services (Consent Code Application, Company Search etc) 10. Consulting Services (Assisting clients/promoters who have ongoing/pending registrations at a subsidized fees). Some of our services at affordable cost: Business Name Registration: N25,000 (Certificate will be out within 5 working days) Limited Liability Company (1 million share capital): N70,000 (Certificate will be out within 5 Working days) Incorporated Trustees (NGO, Church, Mosque, Foundation, Club, Initiatives): N120,000 (Certificate will be out within 30 days (inclusive of the mandatory 28 days for public opinion). Contact Gomez Corporate Consult LTD by visiting our website: www.gomezconsult.com; call us on 08107804290 or 08102794272; mail us on info@gomezconsult.com now. Some of the company registrations conducted this week.
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| Re: Everything About Registering A Company In Nigeria: Step By Step Guide by DeConsultant: 3:28pm On Apr 28, 2019 |
INCREASED ROYAL-VIRTUE AUTOPARTS INTERNATIONAL LTD officially a registered Company under the Limited Liability Company Class. Duration: 5 working days. Share Capital: 1 Million Share Capital Total Fees: N70,000. Do well to contact Gomez Corporate Consult Ltd your CAC accredited firm for your company, NGO, business name, trademark, tax filings, TCC etc. We assisted clients/ promoters in the following areas: 1. Company Registration (Business Name & Partnership) 2. Limited by Shares Companies (Private Limited Company, Public Limited Company, Unlimited Company, Limited by Guarantee) 3. Incorporated Trustees (Foundation, NGO, Club, Church, Initiative etc) 4. Intellectual Properties (Trademark, Patents, Specialized Designs) 5. Taxation (TIN Application, TCC Application, CIT Filings, VAT Filings etc) 6. EFCC SCUML Application 7. NAFDAC Registration 8. Post Incorporation Services (Annual Returns, Removal or Appointment of Directors, Alteration to the Memart etc) 9. Corporate Services (Consent Code Application, Company Search etc) 10. Consulting Services (Assisting clients/promoters who have ongoing/pending registrations at a subsidized fees). Some of our services at affordable cost: Business Name Registration: N25,000 (Certificate will be out within 5 working days) Limited Liability Company (1 million share capital): N70,000 (Certificate will be out within 5 Working days) Incorporated Trustees (NGO, Church, Mosque, Foundation, Club, Initiatives): N120,000 (Certificate will be out within 30 days (inclusive of the mandatory 28 days for public opinion). Contact Gomez Corporate Consult LTD by visiting our website: www.gomezconsult.com; call us on 08107804290 or 08102794272; mail us on info@gomezconsult.com now. Some of the company registrations conducted this week.
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| Re: Everything About Registering A Company In Nigeria: Step By Step Guide by DeConsultant: 10:59am On May 05, 2019 |
A newly registered Private Limited Company. SOLAR HAVEN GLOBAL INSTALLATION LTD officially a registered Company under the Limited Liability Company Class. Duration: 5 working days. Share Capital: 1 Million Share Capital Total Fees: N70,000. Do well to contact Gomez Corporate Consult Ltd your CAC accredited firm for your company, NGO, business name, trademark, tax filings, TCC etc. We assisted clients/ promoters in the following areas: 1. Company Registration (Business Name & Partnership) 2. Limited by Shares Companies (Private Limited Company, Public Limited Company, Unlimited Company, Limited by Guarantee) 3. Incorporated Trustees (Foundation, NGO, Club, Church, Initiative etc) 4. Intellectual Properties (Trademark, Patents, Specialized Designs) 5. Taxation (TIN Application, TCC Application, CIT Filings, VAT Filings etc) 6. EFCC SCUML Application 7. NAFDAC Registration 8. Post Incorporation Services (Annual Returns, Removal or Appointment of Directors, Alteration to the Memart etc) 9. Corporate Services (Consent Code Application, Company Search etc) 10. Consulting Services (Assisting clients/promoters who have ongoing/pending registrations at a subsidized fees). Some of our services at affordable cost: Business Name Registration: N25,000 (Certificate will be out within 5 working days) Limited Liability Company (1 million share capital): N70,000 (Certificate will be out within 5 Working days) Incorporated Trustees (NGO, Church, Mosque, Foundation, Club, Initiatives): N120,000 (Certificate will be out within 30 days (inclusive of the mandatory 28 days for public opinion). Contact Gomez Corporate Consult LTD by visiting our website: www.gomezconsult.com; call us on 08107804290 or 08102794272; mail us on info@gomezconsult.com now. Some of the company registrations conducted this week.
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| Re: Everything About Registering A Company In Nigeria: Step By Step Guide by DeConsultant: 1:34pm On May 12, 2019 |
A newly registered Incorporated Trustees (FOUNDATION) courtesy of Gomez Corporate Consult LTD. THE ELIZABETH OWHE FOUNDATION is officially incorporated under the Incorporated Trustees Class. Duration: 30 days (inclusive of the statutory 28days for public notice after publications) Total Fees: N120,000. Contact Gomez Corporate Consult LTD on 08107804290 or info@gomezconsult.com or visit www.gomezconsult.com for questions or inquiries now. We assisted clients/ promoters in the following areas: 1. Company Registration (Business Name & Partnership) 2. Limited by Shares Companies (Private Limited Company, Public Limited Company, Unlimited Company, Limited by Guarantee) 3. Incorporated Trustees (Foundation, NGO, Club, Church, Initiative etc) 4. Intellectual Properties (Trademark, Patents, Specialized Designs) 5. Taxation (TIN Application, TCC Application, CIT Filings, VAT Filings etc) 6. EFCC SCUML Application 7. NAFDAC Registration 8. Post Incorporation Services (Annual Returns, Removal or Appointment of Directors, Alteration to the Memart etc) 9. Corporate Services (Consent Code Application, Company Search etc) 10. Consulting Services (Assisting clients/promoters who have ongoing/pending registrations at a subsidized fees). Some of our services at affordable cost: Business Name Registration: N25,000 (Certificate will be out within 5 working days) Limited Liability Company (1 million share capital): N70,000 (Certificate will be out within 5 Working days) Incorporated Trustees (NGO, Church, Mosque, Foundation, Club, Initiatives): N120,000 (Certificate will be out within 30 days (inclusive of the mandatory 28 days for public opinion). Contact Gomez Corporate Consult LTD by visiting our website: www.gomezconsult.com; call us on 08107804290 or 08102794272; mail us on info@gomezconsult.com now. Some of the company registrations conducted this week.
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| Re: Everything About Registering A Company In Nigeria: Step By Step Guide by DeConsultant: 4:11am On May 20, 2019 |
The Federal Government have done it again. Business Name Registration is officially 50% discount off it’s standard charges. In lieu with this development, our business name registration total fees is now officially N15,000. If you missed out then, now is your 2nd chance. Don’t miss out, contact us now. Call/ WhatsApp: 08107804290, mail: info@gomezconsult.com or visit www.gomezconsult.com now. Courtesy: Gomez Corporate Consult LTD. We assisted clients/ promoters in the following areas: 1. Company Registration (Business Name & Partnership) 2. Limited by Shares Companies (Private Limited Company, Public Limited Company, Unlimited Company, Limited by Guarantee) 3. Incorporated Trustees (Foundation, NGO, Club, Church, Initiative etc) 4. Intellectual Properties (Trademark, Patents, Specialized Designs) 5. Taxation (TIN Application, TCC Application, CIT Filings, VAT Filings etc) 6. EFCC SCUML Application 7. NAFDAC Registration 8. Post Incorporation Services (Annual Returns, Removal or Appointment of Directors, Alteration to the Memart etc) 9. Corporate Services (Consent Code Application, Company Search etc) 10. Consulting Services (Assisting clients/promoters who have ongoing/pending registrations at a subsidized fees). Some of our services at affordable cost: Business Name Registration: N15,000 (Certificate will be out within 5 working days) Limited Liability Company (1 million share capital): N70,000 (Certificate will be out within 5 Working days) Incorporated Trustees (NGO, Church, Mosque, Foundation, Club, Initiatives): N120,000 (Certificate will be out within 30 days (inclusive of the mandatory 28 days for public opinion). Contact Gomez Corporate Consult LTD by visiting our website: www.gomezconsult.com; call us on 08107804290 or 08102794272; mail us on info@gomezconsult.com now. Some of the company registrations conducted this week.
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| Re: Everything About Registering A Company In Nigeria: Step By Step Guide by DeConsultant: 2:57pm On Jun 09, 2019 |
Hurray! Hurray!! Hurray!!! Corporate Bonanza Courtesy of Gomez Corporate Consult LTD In lieu of the current discount initiated by the Federal Government, through the Corporate Affairs Commission (CAC) on all company/ corporate registrations. Gomez Corporate Consult LTD (Nigeria foremost corporate firm) will like to notify the general public that there will be a review of charges on all corporate registrations. Therefore, our current professional charges are contain below: 1. Business Name/Enterprises/Ventures: N15,000 2. Limited by Shares Company (1 million share capital): N50,000 3. Incorporated Trustees/ NGO/ Foundation/ Assocaition/ Church: N100,000 4. Trademark (Word/ Word with Image): N40,000 5. Etc… We assisted clients/ promoters in the following areas: 1. Company Registration (Business Name & Partnership) 2. Limited by Shares Companies (Private Limited Company, Public Limited Company, Unlimited Company, Limited by Guarantee) 3. Incorporated Trustees (Foundation, NGO, Club, Church, Initiative etc) 4. Intellectual Properties (Trademark, Patents, Specialized Designs) 5. Taxation (TIN Application, TCC Application, CIT Filings, VAT Filings etc) 6. EFCC SCUML Application 7. NAFDAC Registration 8. Post Incorporation Services (Annual Returns, Removal or Appointment of Directors, Alteration to the Memart etc) 9. Corporate Services (Consent Code Application, Company Search etc) 10. Consulting Services (Assisting clients/promoters who have ongoing/pending registrations at a subsidized fees). Some of our services at affordable cost: Business Name Registration: N15,000 (Certificate will be out within 5 working days) Limited Liability Company (1 million share capital): N50,000 (Certificate will be out within 5 Working days) Incorporated Trustees (NGO, Church, Mosque, Foundation, Club, Initiatives): N100,000 (Certificate will be out within 30 days (inclusive of the mandatory 28 days for public opinion). Contact Gomez Corporate Consult LTD by visiting our website: www.gomezconsult.com; call us on 08107804290 or 08102794272; mail us on info@gomezconsult.com now. Some of the registrations concluded this week by Gomez Corporate Consult LTD.
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| Re: Everything About Registering A Company In Nigeria: Step By Step Guide by DeConsultant: 3:19pm On Jun 23, 2019 |
Do you know ![]() For the registration of an Incorporated Trustees (Church, Club, NGO, Association, Initiative, Foundation, Support etc.) You can get the following: 1. CAC IT Certificate 2. Certified Constitution & Application Form 3. TIN Slip 4. Iron Seal 5. EFCC SCUML All this necessary documents for the sum of N140,000 with a duration of 45 days (inclusive of the mandatory 28 days for public notice). We assisted clients/ promoters in the following areas: 1. Company Registration (Business Name & Partnership) 2. Limited by Shares Companies (Private Limited Company, Public Limited Company, Unlimited Company, Limited by Guarantee) 3. Incorporated Trustees (Foundation, NGO, Club, Church, Initiative etc) 4. Intellectual Properties (Trademark, Patents, Specialized Designs) 5. Taxation (TIN Application, TCC Application, CIT Filings, VAT Filings etc) 6. EFCC SCUML Application 7. NAFDAC Registration 8. Post Incorporation Services (Annual Returns, Removal or Appointment of Directors, Alteration to the Memart etc) 9. Corporate Services (Consent Code Application, Company Search etc) 10. Consulting Services (Assisting clients/promoters who have ongoing/pending registrations at a subsidized fees). Some of our services at affordable cost: Business Name Registration: N15,000 (Certificate will be out within 5 working days) Limited Liability Company (1 million share capital): N50,000 (Certificate will be out within 5 Working days) Incorporated Trustees (NGO, Church, Mosque, Foundation, Club, Initiatives): N100,000 (Certificate will be out within 30 days (inclusive of the mandatory 28 days for public opinion). Contact Gomez Corporate Consult LTD by visiting our website: www.gomezconsult.com; call us on 08107804290 or 08102794272; mail us on info@gomezconsult.com now. Below are some concluded company registrations in this past week.
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| Re: Everything About Registering A Company In Nigeria: Step By Step Guide by DeConsultant: 10:34pm On Jul 03, 2019 |
OLORUNOSUN BUSINESS VENTURES officially is a registered Company under the Business Name Class. Duration: 5 working days. Total Fees: N15,000. Company Promoter: Mr Temmy Do well to contact Gomez Corporate Consult Ltd your CAC accredited firm for your company, NGO, business name, trademark, tax filings, TCC etc. We assisted clients/ promoters in the following areas: 1. Company Registration (Business Name & Partnership) 2. Limited by Shares Companies (Private Limited Company, Public Limited Company, Unlimited Company, Limited by Guarantee) 3. Incorporated Trustees (Foundation, NGO, Club, Church, Initiative etc) 4. Intellectual Properties (Trademark, Patents, Specialized Designs) 5. Taxation (TIN Application, TCC Application, CIT Filings, VAT Filings etc) 6. EFCC SCUML Application 7. NAFDAC Registration 8. Post Incorporation Services (Annual Returns, Removal or Appointment of Directors, Alteration to the Memart etc) 9. Corporate Services (Consent Code Application, Company Search etc) 10. Consulting Services (Assisting clients/promoters who have ongoing/pending registrations at a subsidized fees). Some of our services at affordable cost: Business Name Registration: N15,000 (Certificate will be out within 5 working days) Limited Liability Company (1 million share capital): N50,000 (Certificate will be out within 5 Working days) Incorporated Trustees (NGO, Church, Mosque, Foundation, Club, Initiatives): N100,000 (Certificate will be out within 30 days (inclusive of the mandatory 28 days for public opinion). Contact Gomez Corporate Consult LTD by visiting our website: www.gomezconsult.com; call us on 08107804290 or 08102794272; mail us on info@gomezconsult.com now.
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My Bitter Experience With Registering A Business Name With CAC Online Portal • A-Z Of Registering A Non Governmental Organization (NGO) In Nigeria • Registering A Company In Nigeria (for Your Information) • 2 • 3 • 4
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