How to upgrade your business name to a limited liability company in Nigeria

How to upgrade your business name to a limited liability company in Nigeria

December 09, 2021

To upgrade your business Name to a Limited liability company, you must first apply for the consent to upgrade your business Name from the Registrar of the Corporate Affairs Commission (CAC). If it is denied, you won’t be able to proceed.

It can be denied on the basis that a company already exist with a similar name or for whatever reason the registrar deems fit. However, upon approval of a request for consent, you can proceed with the application online.

The application for consent is done on the CAC portal. After approval, you can then input the required details for the registration of a limited liability company. The details required here includes details of the company’s shareholders, directors and company secretary where applicable.

This new application process is totally different from the old process where a business name owner was required to apply for cessation of business before proceeding with upgrade.

Team 618 Bees

 

 

618 Bees can help you quickly and easily help you upgrade your Business Name to a Limited Liability Company in Nigeria. Log on to our website www.618bees.com or email hello@618bees.com, or give us a call on +2349017190079. 618 Bees will complete your registration with the Corporate Affairs Commission (CAC).

 

 

 

 

The information in this blog post (“post”) is provided for general informational purposes only, no information contained in this post should be construed as legal advice, nor is it intended to be a substitute for legal counsel on any subject matter. No reader of this post should act or refrain from acting on the basis of any information included in, or accessible through this post without seeking the appropriate legal or professional advice from the particular facts and circumstances at issue from a lawyer. This post is protected by intellectual property law and regulations. It may however be shared using appropriate sharing tools provided that our authorship is always acknowledged and this Disclaimer Notice attached.

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Frequently Asked

  • When are Annual Returns due for filing?

    A company’s first Annual Returns are due for filing after 18 months of its inception, subsequently it should be filed annually as the name implies. The filing dates could differ for each company depending on their financial year end but must be filed not later than 42 days after its Annual General Meeting.

    The Annual Returns for Business Names is due not later than the 30th of June each year except in the year the business was registered.
  • What is the first thing I must do to register a business in Nigeria?

    To register a business in Nigeria; you would need to conduct a name search of the business. You can achieve this using your CAC-CRP account.
  • Why is mutual assent important in a contract?

    This is one of the key elements of a contract because is shows the meeting of the minds of both parties
  • Can I process/register multiple products at NAFDAC at the same time?

    Yes, you can process/register multiple products at the same time
  • What is data protection?

    Data protection is a legal process of protecting sensitive data.
  • Is my copyright registration in Nigeria protected globally?

    The nature of copyright is territorial, so the copyright work is only protected in the country of registration
  • Can I process/register multiple products at NAFDAC at the same time?

    Yes, you can process/register multiple products at the same time
  • What is share capital?

    The share capital in a private limited company is the amount of money invested by its owners in exchange for shares of ownership.
  • Why do I need a trademark?

    You need to register your trademark because if you don’t register it, someone else can! It helps identify you as the source and indicates a consistent level of quality of your products and services. Securing a registered trademark protects your brand, and provides you with tools to prevent someone else from using similar signs and riding off the back of your business.
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