Can I use the word “holding” in my company name?

Can I use the word “holding” in my company name?

July 23, 2019

The word “holding” can be used in your company name, however it is referred to as a restricted name under S. 30 (2) of the Companies and Allied Matters Act, thus its use is subject to the permission of the Registrar General of the Corporate Affairs Commission (CAC). Registration process of a holding company is similar to that of a limited liability company, however, take note of the following conditions;

  • A holding company must have at least one subsidiary.
  • The holding company must have a majority share in the subsidiary
  • Private Limited Companies (LTD) are the only acceptable subsidiaries.
  • Business names are not acceptable subsidiary companies.
  • Requires special consent from the Registrar General to use the word “holding”

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

 

More Articles

Search

Connect With Us

Got any questions?

If you are having any questions, please feel free to ask.

Send us an email

Frequently Asked

  • Why must I file Annual Returns?

    It is a mandatory statutory requirement under the Companies and Allied Matters Act to file Annual Returns yearly. 
  • What’s the difference between a business name and an LLC?

    • A business name is a sole proprietorship, usually owned and managed by one individual only. Legally, the sole proprietor and his business are one. It simply means an individual trading with an alias. The sole proprietor is personally liable for all business related obligations.

    • A limited liability company on the other hand is a separate business entity from the individuals that hold its shares and act as directors. Legally, it’s a separate business entity and a person on its own who can transact business, own property separate from its owners and can sue or be sued. 
  • What are the terms of a contract?
    • an offer and an acceptance.
    • competent parties
    • Consideration
    • Legal subject matter
    • Mutual agreement/ Assent
    • Conesus ad idem
    • Obligation
  • Do I have to physically drop off my product sample at NAFDAC office?

    No, you can choose to have it sent to NAFDAC office
  • What is data protection?

    Data protection is a legal process of protecting sensitive data.
  • When registered, how long does a patent last for?

    Once granted, a patent is valid for 20 years.
  • Can I process/register multiple products at NAFDAC at the same time?

    Yes, you can process/register multiple products at the same time
  • How many directors do I need to start a company?

    A minimum number of one (1) adult director is required to form a company.
  • Why do I need a trademark?

    You need to register your trademark because if you don’t register it, someone else can! It helps identify you as the source and indicates a consistent level of quality of your products and services. Securing a registered trademark protects your brand, and provides you with tools to prevent someone else from using similar signs and riding off the back of your business.
All FAQs
Call Us Now on +234 901 719 0079 Chat on WhatsApp