Post Incorporation (Changes to CAC)

Post Incorporation (Changes to CAC)

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You might find that, following the registration of your Limited Liability Company or Business Name, you need to make changes due to errors, new situations, or legal requirements. Post-incorporation refers to any modification made after a firm is registered or incorporated.

Following the the registration of your business and organization with CAC you will need to file annual return, changes to error made during registration, situation on legal requirement.

We Are A Group Of Certified CAC Consultants, fiance consultant and tax consultant. We can assist you in changing the name of your company, limited liability company, or non-profit organisation (churches, NGOS, etc.) as needed.

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Frequently Asked Questions

● Filing of Annual Returns ● Change of Director ● Change of Shareholder ● Change of Address ● Upgrade of Business Name to Limited ● Change of Proprietor ● Change of Name ● Increase of Shareholding etc

A firm may decide to have a voluntary change of directors or may need to do so. This might be the consequence of a resignation, death, removal, or other events that might force the appointment of a new director.

The following criteria must be met in order to file a notice of change in directors: ● A properly completed notice of change in directorship form; ● A photocopy of each new director's information page from their international passport or national identity card; ● A letter of consent when appropriate; ● A residence permit when appropriate; ● Resignation letters when appropriate; ● A death certificate of the deceased director when applicable; ● Updated annual returns filing; ● Payment of fees

This describes situations in which a company's shareholding changes due to the addition of a new shareholder or the transfer of shares by an existing shareholder.

The following are prerequisites for submitting a return of allotment of shares: ● A special resolution signed by two of the company's directors ● A properly filled-out form for the return of allotment ● A photocopy of the allottee's information page on their passport or national identity card ● A company resolution for the forfeiture of shares, if appropriate ● Updated filing of annual returns ● Payment of fees

An existing company may voluntarily decide to change its name. It could be to enhance its goodwill or as a result of a change of ownership or a merger/acquisition. It could also be compulsorily.

Requirements for change of name include the following: ● Evidence of approval of new name. ● Special resolution for change of name signed by a director and secretary or 2 directors ● Duly stamped Memorandum and Articles of Association reflecting new name ● Application signed by a director and secretary or 2 directors stating reasons for change of name ● Original certificate of incorporation for cancellation ● In case of Banks, Microfinance Institutions and Bureau De Change Companies, Approval in Principle from the CBN is required. ● Evidence of appointment of secretary ● Updated annual returns filing ● Payment of filing fees

A company may choose to venture or to diversify into new businesses which were not originally in the Memorandum and Article of Association of the company. This will ultimately lead to filing a notice to change or alter its Memorandum and Articles of Association.

● Special resolution for alteration of Memorandum and Articles of Association signed by a director and secretary or 2 directors and stating the altered clauses and or articles. ● Duly stamped Memorandum and Articles of Association marked “as Altered” and reflecting the altered clauses and or articles ● Updated annual returns filing ● Payment of fees

An increase in the share capital of a company could come up as a result of certain situations. A company previously registered with a certain share capital will need to increase the share capital if it decides to venture into a business that requires a higher minimum share capital. Also, some regulatory bodies may decide to review the minimum share capital guidelines for companies and as such the affected companies will need to increase their share capital in order to comply with the guideline

Requirements for filing of notice of increase in authorized share capital include the following: ● Resolution for increase in share capital signed by a director and secretary or 2 directors ● Duly stamped form for notice of increase in authorized share capital ● Updated annual returns filing ● Payment of fees

(Business Name) The Corporate Affairs Commission shall be notified in writing of any removal of a current proprietor or appointment of a new proprietor. A company's owners or partners may change due to a new owner being appointed as a result of a death, resignation, or other circumstances.

Requirements for addition or removal of partners include the following: ● Duly completed application form ● Duly completed form for addition or removal of partners ● Formal application for addition or removal of partner(s) ● Two passport-sized photographs for the new partners in case of individuals and CTC of resolution together with photocopy of certificate of incorporation in case of corporation ● Form of identification where necessary ● Submission of original form for cancellation ● Letter of resignation ● Death certificate (where applicable) ● Updated annual returns ● Payment of fees

Requirements for upgrade to Limited Liability include the following: ● Formal application letter for consent to upgrade ● Original business name certificate ● Updated annual returns ● Payment of consent fees ● Consent code as issued by the Commission ● Notice of approval/consent code to commence registration as limited liability company.


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