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Q&A - Veraz Advocates
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Q&A

Aenean Cras Tortor

What are the requirements for registering a business name?

You need 2 passports photograph each of the proprietors. The identification card of each of the proprietors. The IDs can be voter’s card, Driver’s license, National ID card, International passport.

Can I use my office ID card or Association ID for the registration?

No. It is only the above mentioned IDs that can be used.

Can my child be one the proprietor?

Yes! Your child can be one of the proprietors if he or she is up to 18years of age, any age less than this is not permitted.

In registering a company what are the requirements?

  • 1. Identification cards of the directors.
  • 2. Identification cards of the shareholders if any of the shareholders is not a director
  • 3. Identification card of the company Secretary
  • 4. Proficiency certificate if any of the objects of the company is a professional work or consultancy services.

Can my child who is less than 18years be a director?

No. Your child or children who are less than 18years can only be shareholders of the company. The Identification that is required of them is their birth certificate issued by the National population Commission.

What is the minimum share capital for a limited liability company?

The minimum share capital of a company according to Section…… Of Companies and Allied Matters Act (CAMA)2004 is 500k, but in reality its N1m.

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