How to legally close a Business Name which is no longer doing business.

How to legally close a Business Name which is no longer doing business.

November 14, 2019

In order to legally close a Business Name which is no longer doing business, one will have to file a Notice to the Corporate Affairs Commission for Cessation of business/removal of name from register.

Requirements for filing notice of cessation of business and removal of Name from the register of business names include the following:

  1. Notice of cessation of business by proprietor or personal representative of proprietor in case of deceased proprietor.
  2. Consent of partners in case of a partnership.
  3. Submission of certificate and documents of registration for cancellation.
  4. Photocopy of means of valid identification of the proprietor(s).
  5. Updated Annual Returns filing.
  6. Payment of the prescribed fees.

Once all of these requirements have been satisfied, file all documents with receipt of payment at the Corporate Affairs Commission close to you. This process can take about a month but soon after all documents have been vetted by the Commission and found to be in satisfaction of the requirements of the commission, the business name will be delisted and will no longer exist in the Register of Companies.

NOTE:

The personal representative should deliver the notice of cessation of business to the Commission within three months of cessation of the business

618 Bees can help you quickly and easily close a Business Name you no loner need. Log on to our website www.618bees.comor email hello@618bees.com, or give us a call on +2349017190079. 618 Bees will complete your application for cessation of Business with the Corporate Affairs Commission.

 

 

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

More Articles

Search

Connect With Us

Got any questions?

If you are having any questions, please feel free to ask.

Send us an email

Frequently Asked

  • Why must I file Annual Returns?

    It is a mandatory statutory requirement under the Companies and Allied Matters Act to file Annual Returns yearly. 
  • 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.
  • What is an execution clause in a contract?

    This is the section in which the parties sign the contract or agreement.
  • What is SON?

    SON stands for ‘Standards Organization of Nigeria’
  • What is data protection?

    Data protection is a legal process of protecting sensitive data.
  • Can an industrial design be sold?

    An industrial design is a company asset and the right to sell is in the hands of the registered owner.
  • When can I start renewal of the registration of my product(s) with NAFDAC?

    You can start renewal 6 months to the date of expiry.
  • How many directors do I need to start a company?

    A minimum number of two (2) directors is required to form a company.
  • 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.
All FAQs
Call Us Now on +234 901 719 0079 Chat on WhatsApp