How To Register a Group Company in Nigeria

How To Register a Group Company in Nigeria

June 16, 2022

According to the Companies and Allied Matters Act (CAMA), a Group company comprises of three or more associated companies with common ownership. These companies become the shareholders of the distinct “Group” company. The law prohibits the use of the word “Group” in the name of a company except the requisite consent of the Registrar General of the Corporate Affairs Commission (CAC) is sought and gotten.

Requirements for a the registration of a group Company:

  1. Make a formal application to the Registrar General for consent to use of the word “Group”
  2. There must be evidence of a minimum of three (3) or more associated companies to form the Group Company, which will be the distinct entity.
  3. Evidence of similar names of associate companies with common shareholders and ownership.
  4. There must be a resolution of the associate companies indicating consent to the “Group” relationship.
  5. The updated Annual Returns of all associate companies must be provided.
  6. Evidence of Company secretary of associate companies.
  7. Statement by the proposed Group Company that the share capital shall not be less than the highest share capital amongst the associate companies.
  8. Evidence of compliance with S.553 CAMA where applicable.
  9. The Consent letter should state the names of companies to be part of the group

Upon obtaining the Consent, the Applicant can go ahead to register a new company with the same procedure for the registration of a new company.

Team 618 Bees

 

 

618 Bees can quickly and easily help you register a Group Company in Nigeria. Log on to our website www.618bees.com or email hello@618bees.com, or give us a call on +2349017190079. 618 Bees will complete your application with the Corporate Affairs Commission (CAC).

 

The information in this blog post (“post”) is provided for general informational purposes only, no information contained in this post should be construed as legal advice, nor is it intended to be a substitute for legal counsel on any subject matter. No reader of this post should act or refrain from acting on the basis of any information included in, or accessible through this post without seeking the appropriate legal or professional advice from the particular facts and circumstances at issue from a lawyer. This post is protected by intellectual property law and regulations. It may however be shared using appropriate sharing tools provided that our authorship is always acknowledged and this Disclaimer Notice attached

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Frequently Asked

  • Why must I file Annual Returns?

    It is a mandatory statutory requirement under the Companies and Allied Matters Act to file Annual Returns yearly. 
  • What is the first thing I must do to register a business in Nigeria?

    To register a business in Nigeria; you would need to conduct a name search of the business. You can achieve this using your CAC-CRP account.
  • Why is mutual assent important in a contract?

    This is one of the key elements of a contract because is shows the meeting of the minds of both parties
  • What is SON?

    SON stands for ‘Standards Organization of Nigeria’
  • What is classified as personal data?

    Name, photograph, personal health/bio information, account/financial information, phone number, Address, date of birth, place of birth, Email address, etc.
  • Must I register my work with the Nigerian Copyright Commission?

    No, you must not register your work under the Nigerian law but you have the option to do so. This is because as soon as the original work becomes fixed and tangible it automatically becomes copyrightable.
  • When can I start renewal of the registration of my product(s) with NAFDAC?

    You can start renewal 6 months to the date of expiry.
  • Who can be directors in my company?

    Any two adults can be directors in a company.
  • Why do I need a trademark?

    You need to register your trademark because if you don’t register it, someone else can! It helps identify you as the source and indicates a consistent level of quality of your products and services. Securing a registered trademark protects your brand, and provides you with tools to prevent someone else from using similar signs and riding off the back of your business.
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