dollarathe:
@ Deconsultant, thanks for your help on this thread, I followed ur advice and I got of done....if I'd gotten more money or busy I would have employed ur service. kudos bro
I got a mail this afternoon after submitting all documents this morning. "Your company registration application has been approved. Please collect certificate of incorporation at selected pick up location." when can I go and pick it up ? Thanks

Please I need your advice. I did the business registration online. After payment of 5k, I was redirected by the system to where I'd print application form. I dont know what to do again from there. Should I print the application form and submit it to CAC office or what ?

sollie123:


Please I need your advice. I did the business registration online. After payment of 5k, I was redirected by the system to where I'd print application form. I dont know what to do again from there. Should I print the application form and submit it to CAC office or what ?

Download the form,
Attach your picture
Sign it
Upload it back to the portal for verification.
Before you proceed for submission at the office.

gentyholar:


Download the form,
Attach your picture
Sign it
Upload it back to the portal for verification.
Before you proceed for submission at the office.

Thanks a great deal. This was most helpful. I just did. How long does the verification take?

Visit https://emaginenigeria.com/website-dev/ to get a website that makes it easy for you to grow your business or brand online.

sollie123:


Please I need your advice. I did the business registration online. After payment of 5k, I was redirected by the system to where I'd print application form. I dont know what to do again from there. Should I print the application form and submit it to CAC office or what ?

As soon as you are through with filling a business name form and making payment. The next thing to do is to download the application form, the payment receipt and the approval note.

Afterwards, you will sign, date and attach passport on the Section E. You will also sign in Section H, remember just signature and no filling of anything.

Then the next thing is to do is to convert the following to PDF
1. Signed application form
2. ID Card.
The approval note from CAC and the payment receipt are already in PDF.

The concluding bit is to send the approval note, application form, ID card and payment receipt to CAC via their upload platform. Remember choose a pickup state that is nearer to you.

It is until CAC approve and register the proposed company, with an evidence of registered on your portal before you can be assured that your business name registration is fully done.

When the company have been registered on your portal, you can as well give them 3-5 days, then you can go assuredly for pickup with everything or documents you uploaded.


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.

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...

DeConsultant:


As soon as you are through with filling a business name form and making payment. The next thing to do is to download the application form, the payment receipt and the approval note.

Afterwards, you will sign, date and attach passport on the Section E. You will also sign in Section H, remember just signature and no filling of anything.

Then the next thing is to do is to convert the following to PDF
1. Signed application form
2. ID Card.
The approval note from CAC and the payment receipt are already in PDF.

The concluding bit is to send the approval note, application form, ID card and payment receipt to CAC via their upload platform. Remember choose a pickup state that is nearer to you.

It is until CAC approve and register the proposed company, with an evidence of registered on your portal before you can be assured that your business name registration is fully done.

When the company have been registered on your portal, you can as well give them 3-5 days, then you can go assuredly for pickup with everything or documents you uploaded.


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.

I really appreciate you quick response...Thanks alot

when choosing a business name do i need to add enterprise to my business name?

Please what do I do now, I received a mail that my application was queried. Reason being that i should upload my ID CARD. Please how do I do it? I can't seem to find where to upload it on my dashboard .

DeConsultant:


As soon as you are through with filling a business name form and making payment. The next thing to do is to download the application form, the payment receipt and the approval note.

Afterwards, you will sign, date and attach passport on the Section E. You will also sign in Section H, remember just signature and no filling of anything.

Then the next thing is to do is to convert the following to PDF
1. Signed application form
2. ID Card.
The approval note from CAC and the payment receipt are already in PDF.

The concluding bit is to send the approval note, application form, ID card and payment receipt to CAC via their upload platform. Remember choose a pickup state that is nearer to you.

It is until CAC approve and register the proposed company, with an evidence of registered on your portal before you can be assured that your business name registration is fully done.

When the company have been registered on your portal, you can as well give them 3-5 days, then you can go assuredly for pickup with everything or documents you uploaded.


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.

In the late 1990's, it could be done in a day but usually took 3days. Cost them was 4,000. It was one of those well run government agencies back then. I did not even need a lawyer or an accountant.

CHARLOE:
when choosing a business name do i need to add enterprise to my business name?

Not really, a business name can just be two names, though some people like to use suffixes like Ventures, Enterprises, Concept etc. As long as you have two unique names (that does not have Limited, Group, Holdings, Movement & other restricted names included), the business name is good to go.


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.

sollie123:
Please what do I do now, I received a mail that my application was queried. Reason being that i should upload my ID CARD. Please how do I do it? I can't seem to find where to upload it on my dashboard .

You will have to go back to the site where you did upload the application form, it is on that same platform that you will upload your ID Card.
Remember: It must be in a PDF format.



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.

DeConsultant:


You will have to go back to the site where you did upload the application form, it is on that same platform that you will upload your ID Card.
Remember: It must be in a PDF format.



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.

Thank you! Please how long does a queried application take to get resolved after making the corrections they requested?

sollie123:

Thank you! Please how long does a queried application take to get resolved after making the corrections they requested?

2-3 days.depends

It’s officially 4 days to go!!! Take advantage of our price slash offer on all corporate registrations, which is in lieu with the Federal Government discount initiative on business name registration.
YAK DIESEL AND EQUIPMENT LTD officially a registered Company under the Limited Liability Company Class.
Duration: 7 working days.
Share Capital: 1 Million Share Capital
Total Fees: N50,000.

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.

I want to add 'general contracts' to my already existing business. How can I do that?

yomalex:
I want to add 'general contracts' to my already existing business. How can I do that?

For a registered company under the business name class, the following is essential for a change in nature of business:

1. The year the company was officially registered by CAC, this is essential because of annual returns.
2. Others requirements are in the picture attachment below.


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.

DeConsultant:


For a registered company under the business name class, the following is essential for a change in nature of business:

1. The year the company was officially registered by CAC, this is essential because of annual returns.
2. Others requirements are in the picture attachment below.


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.

thanks for your response. I don't know if what you have written covers what I have in mind. I'm not changing the nature of business per see , the initial nature of business is still being done but I want to add general contract so that I can undertake any other type of business without necessarily registering with CAC all over again. Does your quoted message cover that?

yomalex:
thanks for your response. I don't know if what you have written covers what I have in mind. I'm not changing the nature of business per see , the initial nature of business is still being done but I want to add general contract so that I can undertake any other type of business without necessarily registering with CAC all over again. Does your quoted message cover that?

Yes it is still the same, i understand that you want to alter the nature of business and include general contracts. It is still the same procedure, as it is treated as change in nature of business in corporate affairs.


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).

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.

DeConsultant:


Yes it is still the same, i understand that you want to alter the nature of business and include general contracts. It is still the same procedure, as it is treated as change in nature of business in corporate affairs.


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).

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.

DeConsultant

Thank you for your advice and guidance.

I have successfully registered my business name and received a tin number from FIRS after so much delay.

I am aware that I am supposed to pay Vat every month but when does the payment start? Is it after one or six months from the official stated date of business commencement?

How and where do I get to file for vat payment? Can i do it online?

In a case where no transaction was made in a month, how do I state it for them to know?

I am asking all these because the firs officials do not have the patience to explain all these to me and there aren't detailed explanations about this online.

Please help.

Hi Guys please I have 2 Questions
1. What's is the main differences between a registered business name or Enterprise and a limited liability company especially bin terms of tax and legal identity
2 can one later covert a registered business enterprise into A limited liability company and is their additional cost?

covex:


DeConsultant

Thank you for your advice and guidance.

I have successfully registered my business name and received a tin number from FIRS after so much delay.

I am aware that I am supposed to pay Vat every month but when does the payment start? Is it after one or six months from the official stated date of business commencement?

How and where do I get to file for vat payment? Can i do it online?

In a case where no transaction was made in a month, how do I state it for them to know?

I am asking all these because the firs officials do not have the patience to explain all these to me and there aren't detailed explanations about this online.

Please help.

Answer 1: Filing of VAT is 6 months from the month of business name registration, but if you are yet to commence business you can go ahead to keep filing NIL at your local MSTO (Medium Small Tax Office) within your business address. Note, if you have a registered company (business name) and a TIN, it is deemed that you have commence business, to avoid unnecessary issues i will advise that if you are yet to commence business or you are still putting things together, make sure you go to your MSTO to file NIL.

Answer 2: VAT payments can be made in Polaris Bank (Former Skye Bank) nationwide. After the payment is made, you will take the bank teller to your MSTO office for official filing, you will be directed on how to go about it by the FIRS officials on duty.

Answer 3: VAT is charged on monthly sales or turnover, if no sales is made in a business for a particular month you will have to go to the MSTO to file NIL, it is advisable to take your bank statement for the month with you. That stand as an evidence.

Note: Remember that VAT is 5% of all turnover or sales in a business for a particular month and it must filed on or before 21st of the preceding month (that is, VAT filings for January must be filed on or before the 21st of February and subsequently).


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.

S1mpleOne:
Hi Guys please I have 2 Questions
1. What's is the main differences between a registered business name or Enterprise and a limited liability company especially bin terms of tax and legal identity
2 can one later covert a registered business enterprise into A limited liability company and is their additional cost?

For a newly registered company, there are three officially responsibility it is to undertake as regards FIRS tax filings and CAC annual returns. It is as following:

1. VAT: Also known as Value Added Tax (it is taxed at 5%), it is an indirect tax on the company and a consumption tax, as it is leveled/taxed on the customers or consumers, that is, if you buy groceries at Shoprite, Justrite or you take your family out for dinner at Tantalizer, the law (VAT Act) says that you must pay extra 5% of the total cost of your purchases. Let say you bought goods worth 200,000, that means you will be paying the sum of N210,000 in total as against the purchase fee of N200,000 as a customer or a client. The duty of the registered company is to collect the 5% of all goods or services rendered to their customers or client in a month and remit the accumulated 5% collected from their customers and clients to the FIRS every month. And it must be filed before the 21st of the preceding month. This means, the VAT returns of January must be filed before the 21st of February and subsequently like that every month.
NB: The VAT Act says, all registered company (either a business name or a limited company) are to commence official filing of this tax returns after 6 months of incorporating or registration.

2. CIT: Also known as Company Income Tax (It is taxed at 30%), it is a direct tax as it is leveled on the company net profit for 12 month accounting period. It is expected that that every registered limited company must start filing this returns 18 months after incorporation. Normally companies in Nigeria, uses January till December as their accounting period for the year.
For instance, lets say a company invested a capital of 10 million in a year as a normal way of doing business, at the end of the period, that is December, the accounting books shows a total turnover of 40 million. Firstly, the capital invested at the given period will first be deducted (40M-10M= 30M), so the gross profit will be 30M, afterwards all expenses and interested (salary, fittings, general expenses) will be deducted from the 30M (lets say that is totaled to 15M, that will be 30M-15M= 15M). So you are left with a net profit of 15M for the given period. The company is to file 30% of this 15M, which is 4.5M as it tax for the period, so you are now left with 10.5M as your profit for the period being accounted for. Therefore, the company income tax in this illustrated company is 4.5M, the tax is void or free from the capital invested by the company for the particular period.
NB: There are exception as regards agricultural related companies (as they are given tax-holidays for a given period), also small companies are empowered by law to file 20% to 25% depending on the financial status of the company.

ED: Educational Tax (4% of the net profit of a company), this also go along with the Company Income Tax, as companies are filing their 30% for company income tax, they are to file the educational tax as well.
NB: Therefore, the total direct tax filing for a company is said to be 34% of its net profit for a particular accounting period.

Annual Returns: This is filed with the CAC, according to CAMA (Companies Allied Matters Act), every company so registered by the Commission (CAC), for a business name/NGO/Incorporated Trustees must start filing its annual returns the next preceding year after incorporation. That is, if the business name or Incorporated Trustees was registered in 2018, it must start filing its annual returns from on or before June 2019.

While a Limited Company must file its annual returns 18 months after incorporation, lets say the company was registered in January, 2017, it must file it annual returns on or before 31st of December 2018, will lead to penalty.

In conclusion, all this responsibilities of a registered company are backed by law and cannot be played or maneuvered. There are consequences for failure to adhere.

NB: A business name is a form of registration use by individuals and partners who want to carry on businesses other than the use of their own names. It affords them some measures of protection of their business name and also protects the public from the misleading and fraudulent use of such names. It is the cheapest and the simplest form of corporate registration. The nature of business are usually one or two related kind of businesses.
As regards tax, a business name is only liable to file VAT Returns.

2. It is technically the opposite of a business name, it is measured by shares undertaken by the owners of the company (shareholders) at any given point in time. It offers a company the opportunity to digress or diversify into different forms of businesses. It enjoys quite a number of advantages as against a business name.
As regards tax, a limited company is to file CIT, ED & VAT (Company Income Tax, Educational Tax & Value Added Tax).


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.

S1mpleOne:
Hi Guys please I have 2 Questions
1. What's is the main differences between a registered business name or Enterprise and a limited liability company especially bin terms of tax and legal identity
2 can one later covert a registered business enterprise into A limited liability company and is their additional cost?

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.

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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oamuyi:
Good morning, please do I need to have a million as minimum in my bank account as share capital before I can register a company? Thanks as I await your prompt response...

Not at all. 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.

[b]

DeConsultant:


Not at all. 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.

[/b]

Wow! Thank you Sir. I really appreciate, the breakdown.

Thank you so much for taking the time to answers and address my questions. I appreciate it. I will be calling you soon.

For all corporate registrations, contact Gomez Corporate Consult LTD, your one-stop corporate center having assisted more than 400 company with diverse corporate registrations.

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.

Please I need help..

I registered a company (private limited company) and made payment since the first week of march and up till date I've not gotten any feedback from CaC. Please what can I do