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beneficial This agreement has elements of a trust transaction and is used in situations where shares are acquired from a company or entity but are registered in the name of a nominee on behalf of the beneficial shareholder. This agreement enables the owner of the share to take care of his/her share through a nominee…
Another name for a letter of good standing is a “Certificate of Good Standing or Certificate of Existence”. It is a certificate which is issued by a government agency that verifies the complete registration of a business and total compliance with all the laws regulating businesses in Nigeria. A letter of good standing can be…
If you’ve registered your business with the Corporate Affairs Commission (CAC), you’ve probably had situations where you needed to effect changes on your registration documents such as correcting a name that was misspelled, replacing the address of the business with a new address, provide correct signatures, etc. If you are one of those desiring to…
In a bid to further enhance the efficacy and efficiency of the Nigerian Foreign Exchange Market, the Central Bank of Nigeria through the Director of Exchange Department issued a circular dated August 17 2023 titled “Operational Mechanisms for Bureau de Change in Nigeria”. These guidelines outline key changes that are aimed at streamlining and improving…
Are considering setting up a non-profit organization in the United States even though you don’t live or work in the US? In this article, we consider the legal requirements for setting up your non-profit organization in the United States. DO I NEED TO BE A US CITIZEN TO CREATE AN NGO IN THE UNITED STATES?…
As already established by law in Nigeria, foreigners are at liberty to set up companies and businesses, alone or in partnership with any other person or entity, so far as the required procedures have been complied with as regards registration and in regards to the Immigration Act. Therefore, where the foreign owner desires to come…
Definition of Shares The subject ‘shares’ is a fundamental concept enshrined in the very core of the Nigerian corporate practice. Hence, it is imperative that anyone who intends to start or run a company successfully should have the knowledge and eventually be grounded in its roots. A share according to section 868 of CAMA 2020,…
One of the distinguishing attributes of a company from other types of business entities we have in Nigeria is that every company must have a share capital. However, the number of shares to be attributed to a company, especially during registration, depends largely on various factors one of which is the nature of the business…
Its common knowledge that NGOs are primarily not created to generate profit. But it would interest you to know that NGOs in Nigeria are not totally exempted from paying taxes. Shocking right? In this article, we examine to what extent NGOs in Nigeria are exempted from filing and paying taxes as well as under what…
Download presentation here Imagine booking your flight with an airline for a future date, and ahead of time only to be told on arrival that your scheduled flight has been cancelled without any prior notice or You scheduled a flight ahead of time to make it to an important meeting in another city only to…
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