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Veraz Advocates

How to Change a Proprietor of an Enterprise in Nigeria

Business Name popularly known as ‘one man Business or Enterprise’ is the least, the easiest and the cheapest entity registration under our Company Law. The Company and Allied Matters Act regulates the registration of any form of Entity in Nigeria. The Government body saddled with the responsibility of such registrations in Nigeria is the Corporate Affairs Commission (CAC). They have their various offices in the 36 States of the Federation and their Head office is located in Abuja FCT.

Business name can be sole proprietorship which is one-man or partnership which can be 2 or more persons.

There are times in the life of a business where it becomes expedient that the proprietor of business be changed maybe as a result of death or resignation. In this blog, we are going to walk you through on the steps to take in changing a proprietor.

Changing of a proprietor is far easier than the change of a Director in a limited Liability Company.

Read aslo: HOW TO REGISTER A BUSINESS NAME

Steps to follow:

  1. Pay your Annual Returns to date
  2. Login to your company’s post incorporation portal on CAC CRP
  3. By the left-hand side select ‘change of proprietor’
  4. Click on ‘start the process’
  5. Fill in the necessary details as required
  6. Click on save and continue
  7. Preview the data filled
  8. Make payment
  9. Upload the required documents
  10. Click on ‘submit’

Once you have submitted, you wait for the approval of your application. The process is not cumbersome at all.

Finally, you must be a CAC accredited agent to get this process done and completed.

For further enquiries or questions,

Call/WhatsApp: +234 9054440156

Email: info@verazadvocates.com.ng