Do foreign companies need to file Annual Reports?
Annual report filing is a way of informing the Commission that your Company is still in business, thus it is mandatory for every Company that is carrying on business in Nigeria.
Every company that was incorporated in Nigeria is obligated to file Annual Reports with the Corporate Affairs Commission (CAC), and that includes foreign Companies.
Both Foreign companies that intend to carry on business in Nigeria that have been incorporated as a separate legal entity and those exempted in accordance with the provisions of S 56 of the CAMA are obligated to file their annual reports with the commission. See S. 57 CAMA.
Note that new companies have a grace period of 18 months within which to file their Annual Reports with the commission while older companies should file not more than 42 days after the date of their Annual General Meeting. For more details on how to file your annual reports, visit our website – www.618bees.com
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