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 is SON?

    SON stands for ‘Standards Organization of Nigeria’
  • 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.
  • What is the importance of registering a patent?

    The main reason to register a patent is to ensure that the inventor is able to exclusively commercially exploit an invention. The rights to a patent are vested in the “Statutory Inventor” i.e. the first person to file and register the patent.
  • 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 is share capital?

    The share capital in a private limited company is the amount of money invested by its owners in exchange for shares of ownership.
  • Why do I need a trademark?

    You need to register your trademark because if you don’t register it, someone else can! It helps identify you as the source and indicates a consistent level of quality of your products and services. Securing a registered trademark protects your brand, and provides you with tools to prevent someone else from using similar signs and riding off the back of your business.
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