How to Register your Business/Company within 2 working days

The importance of business name registration cannot be over-emphasized. It is very important that your business be a legal entity, in other to enjoy the maximum operational business benefits, The moment your Company is registered, it becomes a separate entity different from you (otherwise known in law as an “Artificial person”).

The best way to understand this severance process is to consider pregnancy, and delivery process- once a child is born, the child has an independent life; can grow, stand alone (with time), and even die. The process of the growth of the child is not hinged as such on that of the mother.

• Part A – Business Name (BN)
• Part B – Limited Liability company (LLC)
• Part C – Incorporated Trustee (IT) also known as NGO (Non governmental Organization)

Business Name: this is the simplest form of business registrations open to Nigerians. Any individual or proprietor can register a business name themselves without going through a law firm, lawyer, chartered accountant or any other professional service that offers business registration. but when you are given a queries or having issues, that is when you pay double, so i will advise you contact us for guidance before commencement.We have resolved and get approval for a pending registration over 3 years, so experience is best teacher.

A Business Name is the name and style with which you trade; remember that it is just a “style”, and it is therefore not different from you. Being a mere style, the business does not assume a separate legal entity; cannot sue, nor be sued and properties cannot be purchased in the name of the business. Another point that you can identify with the above is that, when the owner dies, the business also dies (since in the first place, it does not have a life of its own).

Limited Liability Company (LTD): this is the most visible types of company in Nigeria and tends to be taken more seriously. This legal structure is more Ideal for businesses that plan to grow big and this requires more legal hurdles to register. You would typically need the services of a legal practitioner you can contact our Legal dept to register your Limited Liability Company LTD..
By implication, ‘your company’ is considered to be different from you after registration; you can be broke while the company is rich, and the death of the founder does not necessarily mean the death of the company because the company has a life of its own.

BENEFITS OF REGISTERING COMPANY/BUSINESS IN NIGERIA

Legal Separation: Depending on the form of business or company you registered, you can separate your personal and business liability. For example, a Limited Liability Company is a separate legal entity from yourself. A simple Business Name Registration does not offer this protection.

Getting Funding: You can only apply for government grants, business loans, startup investment etc when your business is registered. No serious investor, financial institution or government department would fund your business if it is not a registered entity.

Identity: While it is possible to do business informally under your personal name, you cannot reach your full business potential without becoming fully formal. It would be very hard for serious minded people to give your business serious attention if you are trading under your personal name. You can open bank accounts, apply for serious contracts etc, when your business has a proper identity.

DIFFERENCE BETWEEN A BUSINESS NAME AND A LIMITED LIABILITY COMPANY

YOU WANT TO RUN A ONE MAN BUSINESS? ONLY A BUSINESS NAME WILL DO

A LIMITED LIABILITY COMPANY If you intend registering a company, it takes two or more persons to form the company. The popular form of company is “Company Limited by Shares”, and at least two people must subscribe to being shareholders in the company.

BUSINESS NAME: If you are interested in running a one man business where everything will revolve around you and you alone, registration of a Business Name may be suitable. However you can register a Business Name where you and any other person intend to operate as partners.

ROLES OF COMPANY SECRETARY

A Company Secretary is a position in a private sector company or public sector organisation. In the Nigerian Corporate world, a Company Secretary is typically named a corporate secretary or secretary. The Company Secretary is responsible for the efficient administration of a company, particularly with regard to ensuring compliance with statutory and regulatory requirements and for ensuring that decisions of the board of directors are implemented READ MORE

STEPS ON HOW TO REGISTER BUSINESS NAME