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