How to register a consortium in Nigeria

How to register a consortium in Nigeria

July 18, 2022

Consortiums are companies which are composed of separate and different companies coming together to pool resources for an agreed objective or specific duties. Each company will be responsible for the consortium as specified or set out in the consortium agreement.

The requirement for the proper registration of a Consortium includes the following:

  • A formal application for consent to use the word ‘Consortium’ in the name of the company.
  • Evidence of not less than 3 different companies forming the consortium.
  • Evidence of registration in the home country, in the case of a foreign company
  • A Resolution of each company in the consortium indicating consent to the consortium arrangement and stating the objectives of the consortium.
  • The statutory declaration to wind up the consortium in accordance with the provisions of the Companies and Allied Matter Act (CAMA) upon completion of the object of the consortium.
  • Statement of the object of the consortium in the memorandum of association.
  • Inclusion of a clause to wind up the consortium in the articles of association.
  • Evidence of updated annual returns of component companies
  • Evidence of appointment of company secretary of component companies.
  • Evidence of compliance with S.553 CAMA where applicable
  • Upon obtaining the Consent, the Applicant can go ahead to register a new company with the same procedure for the registration of a new company.

Team 618 Bees

 

618 Bees can quickly and easily help you register a Consortium 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 application 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’s the difference between a business name and an LLC?
    • A business name is a sole proprietorship, usually owned and managed by one individual only. Legally, the sole proprietor and his business are one. It simply means an individual trading with an alias. The sole proprietor is personally liable for all business related obligations.

    • A limited liability company on the other hand is a separate business entity from the individuals that hold its shares and act as directors. Legally, it’s a separate business entity and a person on its own who can transact business, own property separate from its owners and can sue or be sued. 

  • 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

  • What are the benefits of Registering with SON?
    1. Product traceability in the Nigerian market
    2. Detection of counterfeit products
    3. Barriers to the circulation of substandard goods
    4. The official SON Product Registration Logo and number are displayed on registered products.
  • What is personal data?

    This is any information that can be used to identify an identifiable human person such passport photograph.

  • Why should I protect an industrial design?
    1. It gives commercial value to the owner.
    2. It protects the owner of the design from imitation of the design..
    3. It constitutes an asset of the company and it helps in fair return on investment.
  • What are the product categories available when registering with NAFDAC?

    The product categories include: Food, Cosmetics, Drug, Medical Device, Agro-Chemicals & Pesticide, Veterinary Products, Vaccines & Biologicals, Herbal and Nutraceuticals and Water

  • Can my kids be shareholders in my company?

    Yes your kids can hold shares in your company but there must be a minimum of two adult shareholders before kids can be included.

  • Does a trademark search automatically reserve my trademark name?

    No, a trademark search does not automatically reserve that which is sought to be trademarked. A search ascertains whether that which is sought to be trademarked is available or violates any existing trademark.

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