What is a Letter of Good Standing?
A Letter of good standing is a letter issued by a proper authority in a jurisdiction to verify that a corporation actually exists, has paid all its statutory dues, has met all filing requirements and therefore, is authorized to transact business. This is also called certificate of authorization or certificate of existence.
In a similar light, a Certificate of Good Standing can also be viewed as a document that states that a company has been in continuous, unbroken existence since its incorporation and that no action is currently being taken to strike the company off the companies register.
The Certificate of Good Standing will not be issued if there are overdue fees or filings and cannot be issued except on request by the company through an application.
The Registrar of Companies can issue a Certificate of Good Standing which states according to the documents on the file at the Companies Registry, that the company has been in continuous and unbroken existence since the date of its incorporation; it also confirms that all administrative requirements have been complied with.
A Letter of Good standing also implies that no action is currently being taken by the Registrar of Companies for striking the company off the register and dissolving it as defunct, and also that the Registrar of Companies is aware that:
- The company is not in liquidation or subject to an administrative order
- No receiver or manager of the company’s property has been appointed
- All annual returns and accounts are filed up to date
- Proceedings to strike off the company from the Register of Companies has not been instituted and premised on this the company is in good standing to enter into businesses with the company who required this verification.
618 Bees can help you quickly and easily obtain a Letter of Good Standing. Log on to our website www.618bees.comor email firstname.lastname@example.org, or give us a call on +2349017190079. 618 Bees will complete your application with the Corporate Affairs Commission.
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