Post Incorporation

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Change of Business property

Willing To change your
Business Property ?

Change is constant and its a part of any business’s journey. Whether due to new developments, initial errors, or regulatory updates, modifications to your registration may become necessary.

This is where our team at Vobels BusinessHub shines. As experienced legal experts and accredited CAC consultants, we specialize in assisting with post-incorporation adjustments. Whether it’s for your Business Name, Limited Liability Company, or Non-Profit organization like churches and NGOs, we’re here to ensure that your entity reflects your current needs efficiently and accurately.

Ready to take the first step towards realizing your business goals? Click the ‘Chat’ button below to speak directly with one of our friendly Consultants. Alternatively, you can also reach out to us via email.

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EMAIL: info@vobels.com.ng

FAQ

You Can Find All Answers Here

  • 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.

This is a mandatory requirement submitted to the Corporate Affairs Commission yearly to demonstrate that the business is a going concern.

Before any other post-incorporation filing can be made, evidence of filing annual returns must be attached.

 Companies are expected to pay Annual Returns every year. Newly registered companies are exempt from paying Annual Returns within the first 18 months, while Business Names are expected to start filing Annual Returns after the first year of registration.

What are the consequences of not paying Annual Returns? Company status would show inactive where there is a failure to pay Annual Returns at the right time. The company may also be delisted from the CAC database.

Requirements for filing annual returns include the following:

  • Duly completed form for annual return
  • Audited financial statement signed by 2 directors and duly certified by a Chartered Accountant, where applicable.
  • Payment of fees

A change in directors of a company can occur voluntarily or as a matter of necessity. This could be due to death, resignation, removal, or other situations leading to the appointment of a new director.

Requirements for filing a notice of change in Directors include the following:

  • Resolution removing or appointing director(s) duly signed by a director and secretary or 2 directors
  • Duly completed form for notice of change in directorship
  • Photocopy of the information page of the international passport or national identity card for each new director
  • Letter of consent where applicable
  • Residence permit where applicable
  • Resignation letters where applicable
  • Death certificate of the deceased director where applicable
  • Updated annual returns filing
  • Payment of fees

This refers to a change in the shareholding of a company either by a new shareholder coming on board or as a result of a transfer of shares by an existing shareholder.

 Requirements for filing a return of allotment of shares include the following:

  • Special resolution signed by 2 directors of the company
  • Duly completed form for return of allotment
  • Photocopy of the information page of the international passport or national identity card for allottee
  • Resolution of the company for forfeiture of shares where applicable
  • Updated annual returns filing
  • Payment of fees

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

 Requirements for a change of name include the following:

  • Evidence of approval of the 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 the new name
  • Application signed by a director and secretary or 2 directors stating reasons for the change of name
  • Original certificate of incorporation for cancellation
  • In the 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.

 Requirements for a change of objectives include the following:

  • Special resolution for the 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 a 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 the notice of increase in authorized share capital
  • Updated annual returns filing
  • Payment of fees

Where there has been a removal of an existing proprietor or appointment of a new one, a notice of such appointment or removal is to be made to the Corporate Affairs

 
 
 
 

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IT’S HERE! DON’T MISS OUT!

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ENJOY RIDICULOUSLY CHEAP PRICE ON YOUR NEW WEBSITE
PLUS FREE HOSTING AND DOMAIN = FOR 25K ONLY

We don’t spam! Read our privacy policy for more info.