Frequently Asked

• When are Annual Returns due for filing?

  A company’s first Annual Returns are due for filing after 18 months of its inception, subsequently it should be filed annually as the name implies. The filing dates could differ for each company depending on their financial year end but must be filed not later than 42 days after its Annual General Meeting.

  The Annual Returns for Business Names is due not later than the 30^th of June each year except in the year the business was registered.

• Do I need a Company Secretary?

  A limited liability company (LLC) must not have a company secretary.

• What is an execution clause in a contract?

  This is the section in which the parties sign the contract or agreement.

• If I have NAFDAC Registration number, do I still need SON registration number?

  SON Product Registration scheme is mandatory for all SON’s regulated products as mandated by SON Act 56 of 1971, 20 of 1984, 18 of 1990 as amended.

  This is irrespective of the registration done by NAFDAC

• What is classified as personal data?

  Name, photograph, personal health/bio information, account/financial information, phone number, Address, date of birth, place of birth, Email address, etc.

• Can industrial design be protected under copy right law?

  Yes, it can be protected under copyright law as a work of Art.

• Do I have to physically drop off my product sample at NAFDAC office?

  No, you can choose to have it sent to NAFDAC office

• Can my kids be shareholders in my company?

  Yes your kids can hold shares in your company but there must be a minimum of two adult shareholders before kids can be included.

• Can I trademark my logo and name separately? Why is this a good idea?

  Yes you can. The advantage is that it gives you the opportunity to have more than one logo or the opportunity to change your logo easily as opposed to registering the name and the logo as one trademark.