A 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 will enable all involved to address uncomfortable aspects of starting the journey so as to avoid conflicts which may arise afterward. What are shares/equity in a company? Shares and equity are used interchangeably. Shares are a unit of ownership of a company and are offered...

For 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 US that could be a good option for non-US residents as well as how to determine which State is ideal for your business goals. You may check it out here. As a non-US resident, registering a company in a new territory can be tasking. You...

If you’ve gotten your company registered in the US, congratulations are in order. However, while having your company registered in the US is one thing, maintaining the registered status of same is another. In this article, we’ll be sharing a few important tips we believe will help you with maintaining the good standing of your company with the United States government especially in situations where you had your company registered in the US as a non-resident. WHAT TO DO AFTER HAVING YOUR COMPANY REGISTERED IN THE US AS A NON-RESIDENT 1. Get your Employer Identification Number (EIN) The EIN is...

Have you tried carrying out registration of your business with the Corporate Affairs Commission only to discover that your name or the name of another has been wrongly spelt on your business registration documents? If the scenario painted above fits your current situation, there is no cause for alarm as it is possible to have the name corrected on your registration documents even after the business has been registered. We will discuss this in detail below. PROCEDURE AND REQUIREMENTS FOR CORRECTING A NAME WRONGLY SPELT ON YOUR BUSINESS REGISTRATION DOCUMENTS Before explaining how this is done, please note that at...

If you are a foreigner or a foreign entity looking to set up a business in Nigeria or you are a Nigerian who owns a business and is about to receive funds or equipment from foreigners as a form of investment into your business, you are very likely to be required to obtain a Certificate of Capital importation (CCI). In this article, we will explain what this is all about. We hope you gain value from it. What is a Certificate of Capital Importation? Also referred to as CCI, it is a document that proves that cash, equipment, or both...