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.
  • 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 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
  • What is classified as personal data?

    Name, photograph, personal health/bio information, account/financial information, phone number, Address, date of birth, place of birth, Email address, etc.
  • Can industrial design be protected under copy right law?

    Yes, it can be protected under copyright law as a work of Art.
  • Is there a penalty for late renewal of registration of products with NAFDAC?

    Yes, there is a late renewal fee, which is dependent on the category of the product.
  • 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.
  • 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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