Do foreign companies need to file Annual Reports?

Do foreign companies need to file Annual Reports?

July 23, 2019

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

Do you have any question or clarification regarding the topic in this post that was not answered/provided by this post? Or you have questions regarding what the law states about a particular legal issue? Log on to our website – www.618bees.com or call us on 23412803791 to speak to any of our consultants that are always on hand to provide answers to such questions.

Best Regards,

Team 618 Bees

 

 

The information in this blog post (“post”) is provided for general informational purposes only, no information contained in this post should be construed as legal advice, nor is it intended to be a substitute for legal counsel on any subject matter. No reader of this post should act or refrain from acting on the basis of any information included in, or accessible through this post without seeking the appropriate legal or professional advice from the particular facts and circumstances at issue from a lawyer.This post is protected by intellectual property law and regulations. It may however be shared using appropriate sharing tools provided that our authorship is always acknowledged and this Disclaimer Notice attached.

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