TRANSMISSION, TRANSFER, SURRENDER OR NEW ALLOTMENT?
In any registered company, a time will come when the management of the company must either transmit or transfer shares or do new allotment or the shareholders surrenders shares. What is Transmission of Shares? It is the handing over of shares of a shareholder upon his death or if he or she is adjudicated to
Read MoreHow to change Registered Address for Companies in Nigeria
Every company registered in Nigeria by the Corporate Affairs Commission [CAC] under the Companies and Allied Matters Act must have an address which is the physical office address where such a company transacts business with the public. A company’s registered address is also included in the CAC public records open to the public. This address is
Read MoreHow to appoint and remove a Company Secretary in Nigeria.
Who is a company secretary? A company secretary is an officer of a company appointed by the directors to perform certain legal and administrative duties, with the requisite knowledge and experience to discharge these duties. The Companies and Allied Matters Act, 2020 makes a mandatory requirement for all companies to appoint a secretary, with the
Read MoreHow to Change Persons with Significant Control (PSC) with CAC
Persons with Significant Control (PSC) are persons that owns at least 5% of the total share of a registered company. They have significant influence and control over the company They are shareholders of a company that owns 5% of the total shares, in other words once a shareholder owns 5% of the company shares, he
Read MoreHotel Business Post Incorporation registrations in Rivers State.
Once your hotel business is registered with CAC, you have crossed the first hurdle of registration, the next step is to do some local registration within Rivers State. I refer to the as Post Incorporation registrations. These registrations differ from state to state depending on the state you are operating from but for the purpose
Read MoreHow to Change a Proprietor of an Enterprise in Nigeria
Business Name popularly known as ‘one man Business or Enterprise’ is the least, the easiest and the cheapest entity registration under our Company Law. The Company and Allied Matters Act regulates the registration of any form of Entity in Nigeria. The Government body saddled with the responsibility of such registrations in Nigeria is the Corporate
Read MoreAnnual Returns Filing Fees for Entities in Nigeria
Once an entity is registered with the Corporate Affairs Commission after 18 months such an entity is expected to start paying her Annual Returns. We have received calls and mails over the fees for each entity known in the Nigerian Company Law, hence this write-up For a Business Name (Enterprise), the Annual Returns fee is
Read MoreHow to update your Memorandum and Article of Association
A Memorandum of Association is a legal statement signed by all the initial shareholders while the Article of Association is a written rules about the company agreed by the shareholders. In registering a company in Nigeria, theses 2 document are part of the documents that forms document of incorporation. Before this time, the Memorandum and
Read MoreHOW TO CHANGE SHAREHOLDER(S) IN NIGERIA.
Shareholders of a company are the real owners of the Company. Shares are allotted to them based on the Company’s Share Capital. If a company wishes to change her shareholders and or transfer its shares to another person there are steps required by Law that she take to make the change. HOW TO CHANGE THE
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