Procedure for registering a company limited by guarantee in Nigeria

Procedure for registering a company limited by guarantee in Nigeria

October 05, 2021

A Company limited by guarantee is a company registered solely for promoting an objective and these kinds of companies are not profit based. Whatever money the company makes is used for the promotion of its objectives. They are usually registered to promote Art, culture, science, education, religion, e.t.c.

The Corporate Affairs Commission (CAC) is the agency responsible for the registration of a company limited by guarantee and the procedure for such registration is highlighted below;

  1. Application for consent for name reservation and registration of the company Limited by guarantee to the registrar of the Corporate Affairs Commission. The information required for this process includes, two proposed company name in order of preference, the objectives of the company, details of directors and secretary, Statement of Guarantee of the proposed Company limited by guarantee.
  2. Application to the Attorney General of the federation for authorization to register the company within 30days, the AG shall approve where there are no objections or where there is no reasonable cause to refuse the application, and where no decision is made within 30days, the promoters shall – Place an advertisement in 3 daily National Newspaper for 28days inviting the public to object if any.
  3. Conclusion of the registration process on the Company Registration Portal. (inclusive of document uploads).
  4. Approval by the commission.

 

618 Bees can help you quickly and easily help you register a company limited by guarantee 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.
  • Must my Company Secretary be a Lawyer?

    Although it’s ideal to have a lawyer as a company secretary, it is not compulsory for small private businesses.
  • What are the terms of a contract?
    • an offer and an acceptance.
    • competent parties
    • Consideration
    • Legal subject matter
    • Mutual agreement/ Assent
    • Conesus ad idem
    • Obligation
  • What is SON?

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

    This is any information that can be used to identify an identifiable human person such passport photograph.
  • What is eligible for Patent registration?

    Patents are granted for the invention of products or processes. However, for it to be patentable, the invention

    • Must be new,
    • Must have an inventive step that is not obvious to someone with knowledge and experience in the subject,
    • Must be capable of being made or used in some kind of industry and not be, a scientific or mathematical discovery, theory or method, a literary, dramatic, musical or artistic work, a way of performing a mental act, playing a game or doing business, the presentation of information, or some computer programs, an animal or plant variety, a method of medical treatment or diagnosis,
    • And must not be against public policy or morality.
  • 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.
  • 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. 
  • What is a trademark?

    A trademark can be any word, sign, symbol or graphic that you apply to your company, goods or services to distinguish them from those of your competitors; for example, a brand, product or company name, or logo. The trademark serves as a badge of origin for your business and its brands and products, and can consist of words, logos, slogans, colours and shapes, or a combination of all of these.
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