Many banks and investors require businesses to be incorporated before they will consider providing funding. Business name registration does not provide the same level of access to funding as company incorporation.

This year, I assisted a client to register her business name. She was into fashion designing and she wanted to legalize the name. I registered it for her and she was happy.

Fast forward to last week, she reached out to me that she wanted to Incorporate a company as her business had expanded and she wanted to start a fashion school.

I was really happy to hear that. I love to hear my client's success stories. I want all my clients to excel in their business and expand.

But then she asked it was possible to "delete" the business name and then incorporate the company.

Imagine her surprise when I told her, she doesn't need to delete the business name. I advised her to just convert the business name to a company.

She was really surprised...

I was also surprised because I believed everyone should know this already.


First thing I would say is that, CAC has made it very possible to convert your business name to a company and expansion is not the only you should consider this conversion.

We are Chartered CAC Accredited Agents. We are into registration of your Business Name, Company (Private Limited Company and Public Limited Company), Limited Partnership and Limited Liability Partnership, Incorporated Trustee as Foundation, NGO, CLUB, Association, Churches, Mosque etc, with CAC.

We also undertake the rigorous process of your CAC post registration services such:

As Annual returns, change or correction of name, name substitution, change of address, change of directors, change of nature of business, registration of business name as a limited company etc.



If you would like us to undertake the whole process of registering your business in Nigeria and get your approved Certificate of registration or Incorporation to you,reach us by Call/WhatsApp on 07033097160.

Do you know the minimum share capital for registering a stock brokerage firms, sports lottery, Agricultural seed, productions, processing and marketing, travel your agency, freight forwarding and corporate consultancy?

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We are CAC’s accredited agent, assisting individuals and entities for Enterprise and Company’s registration in Nigeria. We can be contacted through the below contact details/ 07033097160.

The certificate of incorporation shall be prima facie evidence that all the requirements of this Act in respect of registration and matters precedent and incidental to it have been complied with and that the association is a company authorised to be registered and duly registered under this Act.

The Commission may withdraw, cancel or revoke a certificate of incorporation issued under this Act where it is discovered that the certificate was fraudulently, unlawfully or improperly procured.

The Commission may cause the publication of the withdrawal, cancellation or revocation of certificates of incorporation periodically in the Federal Government Gazette.

Business Registration (Cpraxis Consult)

Business Names:
1. Name Reservation
2. Name Reservation for Restricted words
3. Business Name Registration and Certified True Copy of Registration
4. Change of Name
5. Annual Returns and other Post registration and miscellaneous filings
6. Status Report/Letter of Good Standing

Minimum Number of Partners of A Limited Liability Partnership in Nigeria

(1) Every limited liability partnership shall have at least two partners.

(2) If at any time the number of partners of a limited liability partnership is reduced below two and the limited liability partnership carries on business for more than six months while the number is so reduced, the person, who is
the only partner of the limited liability partnership during the time that it carries
on business after those six months and has the knowledge of the fact that it is carrying on business with him alone, is liable personally for the obligations of the limited liability partnership incurred during that period.

Nigeria has a demand for various goods and services, due to its population size. Nigeria is a business-friendly economy, what you need to do is start a business in an area, work hard towards and make it profitable.
Before then, you should ensure you get it registered with CAC either as a business name or a Private limited Liability company. Let's get you started with your business registration today/07033097160.

One of the surest path to financial freedom is to start and run a business. You will decide the category and type of business you want to venture and get it registered.

Get it registered. Get a legal and formal recognition.

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Tax Identification Number (TIN) application is a compulsory requirement for bank account opening in Nigeria. It's your unique tax identification number with the Federal Inland Revenue service (FIRS). You will be required to apply using your business name or company registration number.

Let's handle your TIN request application today.

We are CAC Accredited registration agent in Nigeria.Don't operate without a structure.

Do you run a consultancy agency or a Solar and renewable energy business? Get it registered as a business name or limited company certificate from CAC.

Private Limited Liability Partnership in Nigeria

Individuals and corporate entities can register LLPs and LPs. There must be a minimum of two partners and while LPs cannot exceed 20 partners, there is no maximum number of partners for LLPs.

Every LLP must have at least two partners known as “designated partners” who are responsible for ensuring compliance with the provisions of the CAMA 2020 and will be liable for any contravention of the CAMA 2020 by the LLP.
An LP must have a partner known as a “general partner” who has an unlimited liability for all debts and obligations of the partnership. Other partners in an LP are the “limited partners” and their liability for the debts and obligations of the partnership is limited to the sums they contributed or agreed to contribute at the time of joining the partnership.

The CAMA 2020 does not limit the types of businesses the LP and the LLP can undertake and does not appear to prescribe any minimum capital thresholds for either.

We are available to provide further advice and support your company in respect of this registration.

Incorporation of an LLP gives it a legal personality separate from the partners. It confers limited liability on the Partners. It gives the partners the right to sue and be sued in its corporate name. Incorporation gives LLP the right to acquire, own, hold, and develop or dispose of the property.

The Private Limited Liability Company (Unquoted Company)

A Private Limited liability company is defined as one which by its articles restricts the right to transfer its shares and limit the number of its shareholders from two to fifty. The name of the private company must end with “Limited” e.g. AGRO Nigeria Limited etc.

The Public Limited Liability Company (Quoted Company)

Public Liability Company is defined as one which by its articles allows the public to subscribe to its shares, must have at least seven persons but no maximum number is prescribed. The shares can be transferred and the name of the public company must end with “PLC”, e.g. GTBank Plc., Vitafoam
Nigeria Plc. etc.

This is the type that is popularly referred to as Joint Stock Company. In the activities of a joint stock company, two documents are dominant. These are;
1. The Articles of Association
2. The Memorandum of Association

• The Articles of Association takes care of the internal relationships between the company and the members
• The Memorandum of Association is meant for regulating the external relationship of the
company.


To be continued......

Features or Characteristics of Private Limited Liability companies

1. Ownership: - It is owned by shareholders that may be between two and fifty persons in
number.
2. Legal entity: - The business can sue or be sued in its own name, without involving the
owners.
3. Management: - It is owned by those who contributed capital for its formation.
4. They are not allowed to use the abbreviation Plc, but “Ltd” or “UnLtd”.

Features or characteristics of Public Limited Liability Companies
1. Ownership: - The number of shareholders ranges from seven to infinity i.e. there is no
maximum number.
2. Legal entity: - It can sue and be sued in its own name.
3. Management: - It is owned by the shareholders but controlled by the board of directors.

4. Public companies use the abbreviation Plc., meaning Public Liability Company.

Similarities between Private and Public Liability companies
(1) Management: - Both companies appoint directors for the proper and efficient management of the business.

(2) Limited Liability: - Both companies have limited liability. This means that the shareholders can only lose the value attached to the shares they contributed in the event of liquidation.

(3) Large capital outlay: - Both companies have ability of pooling large capital together to set up a business.

(4) Ploughed back of profits: - Part of the profit can be ploughed back into the business for both companies while the remaining can be shared to the share holders, according to the amount of shares contributed.

(5) Legal entity: Both companies are legal entities, meaning that they can sue and be sued in their own names due to the fact that both are registered companies.

DISTINCTION BETWEEN PRIVATE AND PUBLIC COMPANIES

Private Limited Company Vs Public Limited Company

1. It has minimum of two people as shareholders while for public companies, It has a minimum number of seven people as shareholders.
2. They are small in size and have limited capital while for public, they are large in size and have large capital
3. It enjoys privacy as it does not publicize its annual accounts while for public company, there is no privacy as the annual account must be published.
4. It has a maximum number of fifty owners while for public, It has no maximum number of people as owners.
5. It does not issue debentures while for public, It issues debentures
6. Private Limited companies cannot be quoted on the stock exchange while for Public Limited companies can be quoted on the stock exchange

Register your Business on CAC (Corporate Affairs Commission).

At Cpraxis Consult, we get your business successful registered and legitimately

We offer services in:

- Business Name Registration

- Limited Liability Registration (Private and Public at any Shares Capital) and,

- Incorporate Trustees (NGO - Non Governmental Organizations)

Believe me, this is a perfect time to take a leap and register your business with CAC at the cheapest price.

Let's register your business today

Mooh Autos Limited® already registered and Incorporated with the Corporate Affairs Commission.

It will be a trail blazer in the Automobile dealership, transportation, logistics, supply chain, Import & Export Industry in Nigeria.


More are underway.

Register your business today, Call/WhatsApp 07033097160.

Registration of Private Limited Company In Nigeria

The Corporate Affairs Commission (CAC) was established by the Companies and Allied Matters Act, which was promulgated in the year 1990 to regulate the formation and management of companies in Nigeria. The CAC is saddled with the responsibility of registering companies in Nigeria. It is a must for company formation in Nigeria if you want to run a legal business here.

Let's an Accredited professional handle your CAC registration today.

Advantages of getting your business registered

Investment from sales of shares in your business.
Access to government and commercial bank loans.
Grants and foreign aid.
Business continuity.
Legal status.
Etc.

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Some people have wondered the essence of registering your business. Some even cannotes it to taxing. But let me tell you there are more important reason to having it registered beside ensuring your success of the business.

Your business will continue if you are longer there. There will be continuity in operation. Unless you are building a business that will die with you, you will need to register your business. Registering a business is like creating a legacy that your family will carry on and on after you are long gone.

Not registering your business is like opening a small kiosk, and then when you die, the family just closes it down and share the goods inside with different people. If you want your business to be one that would last, you will need to register it as early as you start. Whether you are there or not, the company stands in your name, it remains.

We render Business support services to the general public. Let's register your business and file your annual returns today.

Let's handle your business registration in Nigeria.

CAC set to Delist Companies dormant for 10 years

In a statement on Wednesday, the Commission said the full list of the dormant companies was available on its website.

“This is to inform the general public that the commission pursuant to its powers contained in Section 692 (3) (4) of the Companies and Allied Matters Act No. 3 of 2020, intends to strike off from the Register, names of defunct or dormant companies that have not filed Annual Returns for a period of 10 years,” the statement partly read.

The Commission gave the companies 90 days from the date of the statement to file all outstanding annual returns so as to remove their names from the list.

“It is to be noted that it is illegal to carry on business with the name of a company that has been delisted from the register as such company is deemed to be dissolved.”

Business name registration is indeed a convenient and fastest means of setting up a small business in Nigeria. The procedure for how to register a business name is less tasking compared to the procedure for a company registration in Nigeria. The advantages of registering a business name include simplicity in registration, and affordability, as there is no need to pay stamp duty.

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