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…
Read More : NIGERIAN CERPAC CARDDefinition 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,…
Read More : CLASSES OF COMPANY SHARESOne 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…
Read More : WHAT IS THE MINIMUM SHARE CAPITAL REQUIREMENT FOR REGISTERING A COMPANY IN NIGERIAIts 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…
Read More : DO NGOs PAY TAXES IN NIGERIADownload 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…
Read More : CAN I GET COMPENSATION FOR DELAYED OR CANCELLED FLIGHT?If you have ever considered setting up a fintech platform in Nigeria, you will agree that the entry barrier into the fintech space has been raised high with increased share capital requirements to be deposited in escrow while applying for a CBN license, not to mention other regulatory requirements which must be followed to the…
Read More : CBN REGULATORY SANDBOX PROGRAMME – EVERTHING YOU NEED TO KNOWAre you a foreigner with a desire to set up a non-profit organization or promote a non-profit-related cause in Nigeria? In this article, we’ll address concerns with respect to setting up your NGO in Nigeria as a foreigner. Before we proceed, it is important to note that the Companies and Allied Matters Act is the…
Read More : HOW TO REGISTER AN NGO IN NIGERIA AS A FOREIGNERBy virtue of the Companies and Allied Matters Act (CAMA) 2020, every business or non-profit organization (i.e. business name, company, or Incorporated Trustee) registered in Nigeria, with the Corporate Affairs Commission, is required to file its annual returns regularly and up to date. In this article, we will be explaining amongst other things, the meaning…
Read More : HOW TO FILE ANNUAL RETURNS IN NIGERIAA common concern experienced by co-founders, particularly at the early stages of starting a company is that of how to divide equity amongst themselves. If you currently have similar concerns, I can assure you that it’s a valid issue to be addressed between you and your co-founder(s), particularly before the company is formed as it…
Read More : HOW TO SPLIT EQUITY AMONGST CO-FOUNDERS IN A STARTUPFor several reasons, the State of Delaware seems to be the State of choice for African startups. This does not however mean that there are no benefits that come with setting up your company in other States in the US, particularly as a non-US resident. In our previous article, we considered another State in the…
Read More : HOW MANY PERSONS DO I NEED TO REGISTER A C-CORP IN DELAWARE
