How to remove a deceased proprietor(s) from a Business Name

How to remove a deceased proprietor(s) from a Business Name

May 09, 2019

Where there are two or more proprietors registered as joint owners of a Business Name and one of them dies, the following steps will be required at the Corporate Affairs Commission (CAC) to ensure the surviving proprietor(s) can continue running the business;

  1. Duly completed application form.
  2. Duly completed form for removal of partners.
  3. Formal application for removal of partner(s).
  4. Copy of partnership agreement where applicable.
  5. Submission of original Business Name Form for cancellation.
  6. Death certificate of deceased proprietor.
  7. Updated Annual Returns.
  8. Payment of prescribed fees.

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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. 

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

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    SON stands for ‘Standards Organization of Nigeria’

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    You can start renewal 6 months to the date of expiry.

  • What’s the difference between a business name and an LLC?
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    • 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. 

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    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.

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