SOLE OWNERSHIP OF A LIMITED LIABILITY COMPANY

Questions has arisen severally if one person can own a company? Owning a company simply means if one person can be a shareholder of a company?

I will answer the question in the affirmative. Before the coming of Companies and Allied Matters Act 2020, the CAMA stated that atleast 2 persons can be shareholders. With the advent of CAMA 2020 it is very person for one person to be a shareholder and Director. This is one of the innovations of the new CAMA.

Read:How to Upgrade your Business Name to a Limited Liability Company

Are you an investor who is desirous of incorporating a new company and you don’t want to partner with another person? There is goodnews for you!

You can register your company and assign all the share capital to yourself. You can actually do so by registering a limited liability company with CAC.

How do you register the company?

One may ask how do I go about the registration?

Here are the steps to take:

Conduct a name search
Once the name is approved
Fill in your details as the Director and shareholder
Fill in your company details
Fill in the objects of the company
Upload the necessary documents
Preview your work
Make payment
Submit your application
Wait for approval from CAC

It is that simple!

Read also:HOW TO REGISTER A LIMITED LIABILITY COMPANY in Nigeria

In conclusion, sole ownership of limited liability company is very possible. One person can now be a Director and a shareholder of a company. We can help you to do the registration if you cannot navigate your way through CAC portal. Feel free to reach out to us.

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