TRUSTED HANDS COMPANY REGISTRATION SERVICES

Should I register a business name or incorporate a company? Usually, the earliest legal question on most Nigerian Startup Founders’ lips is, “what is the better legal entity, a Limited Liability Company (that is, a company with the suffix “limited” or “ltd”) or a Business Name. My response to this question doesn’t come earlier than I have first understood the corporate strategy and vision of the business which would ultimately determine what form of business structure is most suitable for the startup. It will be useful to briefly mention the general form of business structures that there are in Nigeria at the moment. Depending on the plans and vision of a business, the options available to choose from are - generally - incorporating a Limited Liability Company, registering a Business Name or registering a Partnership. Now let’s consider these structures in turn. Private Limited Liability Company - Pros A Limited Liability Company could either be private or public. While the...

How To Apply For A Tax Identification Number (TIN) In Nigeria We have been receiving a lot of calls in recent times about how to apply for TIN in Nigeria. You will find in here all the detailed steps you need to know to apply for your tax identification number. This is going to be a long read, but please take out time to read this since you NEED IT! How to apply for TIN Are you a Nigerian citizen working for a private organization or with the government. You own a business or you have the intention to start one? It is important that you know what a tax identification number is, and not only know but you also possess one. A lot of small business owners believe that registrating their companies, business names with the CAC is all they need to be known as serious business men/women. However for an entity to be recognized in Nigeria, it goes way beyond registering with the CAC, but also registering for tax. I have been receiving a lot of calls in recent times about how to app...

7 Reasons Why You Should Register Your Business Now! by law padi So you have come up with a great business idea, and you are itching to launch and make loads of money in Nigeria. You might think, to start with you do want to keep your start up costs low, and one of the ways you wish to do that is by registering a business name, and not going down the route of company incorporation. While on paper this might sound like a good strategy, in reality it might not be so wise. Here are 7 reasons why registering a Company incorporation in Nigeria is a smarter legal and business decision than registering a Business Name. LIMITED LIABILITY The first and most important reason why people incorporate is for something called corporate personality. Under Nigerian law (and the laws of almost every country in the world), there is a legal fiction where a company is deemed to be a separate legal entity from the individual(s) who created/run it. Therefore the company has powers to ente...

The Dilemma of an opportuned man ... Mr Kunle graduated from University of Lagos with his bossom friend, Mr Ajasa. Mr Ajasa proceeded to University of Cambridge, where he met the Son of the Governor of Jigawa State. They had a smooth and cordial relationship while in School. On their return to Nigeria, the governor wanted two contractors to execute a 500 million Naira Contract and was to close the next day. The Governor's son saw this as an opportunity to enrich his friend they both hustled together abroad. Unfortunately, the friend never had a registered company and before he could quickly register one, the opening had closed. The Governor was removed from office the next month. Mr Ajasa till today live in regrets as he missed the lifetime opportunity. Are you not also like Mr Ajasa? Do you have a registered Company in Nigeria? If this emergency opportunity comes your way, are you prepared for it? Are your annual returns and tax clearance u...