Converting Your Unlimited Company to A limited Liability Company in Nigeria – Converting from one form of business class to another is possible in Nigeria, but there are guidelines and requirements to meet. It’s possible: conversion of unlimited company to limited company, conversion of company limited by guarantee to limited by shares, Convert Company limited by shares to company limited by guarantee, limited to unlimited company, enterprise to a limited liability company.
The question is, why converting Your Unlimited Company to A limited Liability Company? Are you having debt management issues? Is the composition of the shareholding becoming a challenge?
Truly, this post will guide you on how to convert unlimited company to a limited liability company. It will give you detailed CAC requirements to effect this. It will also recommend to you who should help you do it quickly. Therefore, read on. Don’t hesitate to send in your comments for further information through our comment box, and to share this with a friend.
Here Are The CAC Requirements @ Converting Your Unlimited Company to A limited Liability Company in Nigeria
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The requirement and conditions are very imparative for this conversion to be effectd by CAC Nigeria.
- Evidenve of name availability and reservation
- Special resolution singed by 2 direcotrs or a direcor and secretary
- Application for the re-registration singed by Director and Secretary.
- Duly stamped Memorandum and Article of Assoocation marked altered for this purpose
- Updated annual return filing
- Updated section 553 of CAMA where applicable
- Payment of fees.
Othe Conditions @ Converting Your Unlimited Company to A limited Liability Company in Nigeria
- The special resolution must specify the proposed authorised share capital and the alterations on the Memo and article of association
- An unlimited company shall not be re-registered as a public company nor a company limited by guarantee
- Furthermore, A company can not be re-registered as limited by share if it had previously been re-registered as unlimited from limited by share
- The notice of resolution for this must be filed within 15 days after the special resolution.
GET HELP HERE:
Finally, this is like a help line in this exercise. If you want to do the conversion, we will require you to send in your personal data/information only. We will help you generate the other documents. This is to avoid delays in filing this notice of conversion.
As a matter of fact, We are Chartered Accountants. Complete Full Marks Consultants Limited is the firm. It has the incorporation mandate to handing corporate documentations, tax management, accounting and auditing services among others. To know more about us and our services click these links. Contact us today.
Founder/Managing Partner of Complete Full Marks Consultants Ltd. An Economist turned Chattered Accountant and Tax Practitioner with over 37 years of industrial experience.