How is a company limited by guarantee?
A company limited by guarantee is a company which does not have any shares or shareholders but is owned by guarantors who agree to pay a certain amount of money for company debts and the operation of the...
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Types of company registration in Nigeria.
This write up is to help you understand the different types of companies in Nigeria as it states the basic features of each type of company registrable in Nigeria. BUSINESS NAME OR SOLE PROPRIETORSHIP: This...
How to appoint or remove a Company Secretary.
A secretary shall be appointed and removed by the directors. Where it is intended to remove the secretary of a public company, the board of directors shall; Give him/her notice‐ (a) stating that it is...
What is the age requirement for a director in Nigeria?
hT The minimum age for a director is 18 years, as a minor cannot be a director in Nigeria unless two adults are existing directors in that company. The age limit for a proposed or an already existing...
Differences between a limited liability company a partnership
LIMITED LIABILITY COMPANY PARTNERSHIP 1. A limited liability company can be formed by one person and have up to 50 members. A partnership must be formed by at least 2 persons and membership cannot exceed 20,...
Partnership vs Sole Proprietorship
A sole proprietorship, as the name implies, is when one person forms and single handedly operates a business, while a partnership is formed and operated by at least 2 people. DIFFERENCES BETWEEN SOLE...
8 steps on getting your business registered
Have two proposed unique business names Do a name availability search on CAC website services.cac.gov.ng and reserve a name. Note that the reservation expires after 60days so, registration must be completed...
Take the leap! ( To become an entrepreneur)
Whether its turning a side hustle to your main gig, or turning that dream into the reality of a full time business, deciding to become an entrepreneur is sometimes not easy to accomplish. There will always...
Contents of a partnership agreement
A partnership deed is a legally enforceable document that guides the operation of the partnership business. It should contain the following details; Name of the firm. Names and addresses of the partners. The...
How to register a partnership in Nigeria
A partnership is a form of business formed by two or more people. Not more than 20 persons can form a partnership, unless it is a partnership of lawyers or accountants. Follow the simple steps below to...
Can my child be a shareholder in my company?
WHO IS A CHILD? A child, also referred to as a minor, by definition is one who is less than 18 years of age. If your child is less than 18 years of age, he is a minor and can be a shareholder in your...
8 tips that can help you get your business name approved by the Corporate Affairs Commission (CAC)
Choosing a suitable business name that will meet both your personal and professional needs, and also meet the requirements of the Corporate Affairs commission (CAC) could be difficult sometimes. It just...
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