Before you begin!

Before you begin filling out your company formalization form, you will need to read and understand the requirements and the process involved. Please read the information below to assist you in this regard:

You should have 1 to 5 names for your new company, in order of preference, with the first being the most preferred. Names must be unique, and adding terms like, investments or holdings to the same term does not make it unique. If your name is to contain the term “investments” – your core business should include investments. Similarly if your name is to contain the term “holdings” – the subsidiaries must already be registered, or are being registered at the same time as the holding company.

The core business or main objectives of your new company.

Physical and Postal address of the business. If one doesn’t exist yet, you may use one of the directors of the PLC or in case of PBC, one of it’s members. This can always be changed later. This goes on the Statement of Incorporation in a PBC and on the CR6 in a PLC.

A company’s fiscal year is its financial year; it is any twelve-month period that the company uses for accounting purposes. The fiscal year is expressed by stating the year-end date. A fiscal year end can be the end of any quarter — March 31, June 30, September 30, or December 31.

In the case of a PBC, you must have the full names, ID No.s and % shareholding of between 1 to 20 members of the PBC. In PLC’s you must have full names, ID No.s, % shareholding and addresses of between 2 to 50 shareholders and also note that in a PLC, a director may or may not have % shareholding and a shareholder may or may not be a director. However, the % shareholding for all shareholders combined must be 100%.

Each member of the PBC must sign the Incorporation Statement and in a PLC the shareholders must sign the Articles of Association before the Registrar affixes his seal, stamp and signature.

For more information, please do get in touch

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