HOW TO UPGRADE A REGISTERED BUSINESS NAME TO A PRIVATE COMPANY IN NIGERIA

Yes, you can upgrade your registered business name to a limited liability company. To do so however, you are required to;

1. Ensure the business name has filed its annual returns with the Corporate Affairs Commission since registration and it is up to date. The purpose of filing annual returns regularly is to inform the Commission with which it was registered, that such business is a going concern.

2. Apply to the Registrar General of the Commission, requesting to upgrade your registered business name to a Limited Liability Company. You would also be expected to submit your business registration certificate while making this application.

3. Upon obtaining consent, you may proceed to incorporate a company with the same name as that of the business name. You would be expected to pay administrative charges required for registration.

4. Upon registration, a certificate would be issued to that effect.

We hope you found this helpful? If you need professional assistance in this regard, you may reach out to us HERE or send an email to info@lexpraxisng.com

Cynthia Tishion
Cynthia is a lawyer and currently serves as Head of Corporate / Commercial Services at LEX – PRAXIS. With her passion for business and entrepreneurship, she is actively engaged in creating awareness on the legal aspect of businesses through various platforms such as writing, public speaking engagements.

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