Registration of a Limited Liability Partnership in Nigeria

Registration of a Limited Liability Partnership in Nigeria

June 15, 2021

The business type known as a Limited Liability partnership (LLP) was introduced in SEC 753 OF THE COMPANIES AND ALLIED MATTERS ACT (CAMA) CAP C20 LFN 2020. The registration of a Limited Liberty partnership is suitable for two or more persons in business together with the intention of making profit.

The requirements for the registration of an LLP includes;

  1. Name of the Company
  2. Address of the Company
  3. Objectives of the company
  4. Particulars of all partners during the incorporation
  5. Any other information as may be required.

The Act imposes an imprisonment for anybody who is found guilty of false information as may be required by him during incorporation see Sec 753 (3) of CAMA 2020

It is mandatory that the company has a registered address of the company where all notices or communication can be received.

The act did not limit the registration of a Limited Liability partnership to any particular kind of business object,  but makes it open for all legal businesses.

The effect of registering a Limited Liability partnership is that the business can sue and be sued, it can have a company seal where it chooses to, it can acquire, hold and dispose of property and finally, a Limited Liability partnership will be entitled to do all such things as a corporate body would normally do.

 

618 Bees can help you quickly and easily help you register a Limited Liability Partnership in Nigeria. Log on to our website www.618bees.comor email hello@618bees.com, or give us a call on +2349017190079. 618 Bees will complete your registration with the Corporate Affairs Commission (CAC).

 

 

 

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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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 30th of June each year except in the year the business was registered.

  • 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
  • Can I process/register multiple products at NAFDAC at the same time?

    Yes, you can process/register multiple products at the same time

  • What is data protection?

    Data protection is a legal process of protecting sensitive data.

  • Does Trademark registration protect my website domain name?

    Yes, it does.

  • When can I start renewal of the registration of my product(s) with NAFDAC?

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

  • Who can be directors in my company?

    Any two adults can be directors in a company.

  • Does Trademark registration protect my website domain name?

    Yes, it does.

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