Public Limited Company (PLC) Incorporation in Nigeria

Public Limited Company (PLC) Incorporation

NGN100,000.00

Register Your Public Limited Company (PLC) in Nigeria with SplashDict

A Public Limited Company (PLC) allows you to raise capital by selling shares to the public while ensuring limited liability. SplashDict streamlines the registration process, ensuring compliance and setting your business up for success.

  • Public Limited Company (PLC) Registration with CAC.
  • CAC Filing Fees included.
  • Tax Identification Number (TIN) included.
  • Receive Certificate of Company Incorporation.
  • Receive CAC Status Report.
  • Receive approved Memorandum and Articles of Association (MEMART).
  • Receive Share Certificates.
  • Receive Company Register with Initial Entries.
  • Free Nigerian Bank Account Referral
  • Processing Time: 3 to 14 business days turnaround.

 

  • Minimum authorized share capital

    "Authorized share capital" refers to the maximum amount of shares a company is legally permitted to issue.

Key Features of a Public Limited Company (PLC)

  • Limited Liability: Shareholders' liability is limited to the unpaid amount on their shares, protecting their personal assets from company debts.

  • Separate Legal Entity: A PLC operates as a distinct legal entity, separate from its owners, capable of owning assets, entering into contracts, and incurring liabilities.

  • Public Ownership: A PLC can offer its shares to the general public, through a stock exchange or other public invitations, allowing for broader public ownership.

  • Membership and Shareholders: A PLC requires a minimum of two initial Members /  Shareholders (can be an individual or corporate body), with no maximum limit on who can hold shares in the company.

  • Board of Directors: A minimum of two (2) directors is mandatory for a PLC. However, there are other restrictions on the number of directors a company can have, depending on the type of company or industry.

  • Company Secretary: A PLC must appoint at least one (1) qualified company secretary, responsible for ensuring compliance with legal and regulatory requirements. The secretary can be an individual or corporation.

  • Minimum Share Capital: A PLC in Nigeria must have a minimum authorized share capital of N2,000,000, with at least 25% of this capital subscribed and paid upon incorporation.

  • Regulatory Compliance: A PLC is subject to strict regulatory requirements, including filing annual returns, preparing audited financial statements, holding annual general meetings (AGMs), and complying with the Securities and Exchange Commission (SEC) regulations.

  • MEMART: A Public Limited Company must submit a Memorandum of Association (MOA) and Articles of Association (AOA), collectively known as MEMART, outlining the company’s objectives and internal rules.

  • Name Suffix: Upon incorporation, a PLC’s name must include the suffix “PLC” or "Public Limited Company" to indicate its legal status as a public limited company.

Requirements for Public Limited Company (PLC) Incorporation

  • Proposed Company Names: Provide at least two options for your company name (primary and alternative).

  • Principal Business Activity: State and describe the principal activity or activities the company will engage in, classified under business objectives.

  • Registered Office Address: Provide a physical address in Nigeria for official correspondence, along with the head office address if it differs from the registered office.

  • Articles of Association: Outline the internal rules governing the company’s operations, including the management structure, rights, and obligations of directors and shareholders. (We can provide this)

  • Objects of Memorandum: Define the company's objectives and business activities, outlining the scope of operations. (We can provide this)

  • Particulars of Secretary: Details include - Full name, Address, Valid identification, and Signature. Public companies are required to appoint at least one secretary.

  • Particulars of Director(s): Details include - Full name, Address, D.O.B, Gender, Occupation, Valid identification (e.g., National ID, Driver’s License, Passport, or Voter’s Card), and Signature.

    A public company must appoint at least two directors.

  • Particulars of Persons with Significant Control (PSC): Details of individuals or entities that hold more than 25% of the company’s shares or voting rights, or otherwise exert significant influence over the company.

  • Statement of Issued Share Capital: Provide the total number of issued shares, their nominal value, and share classes (e.g., equity or preference), with a minimum authorized share capital of ₦2,000,000 (Two Million Naira Only).

  • Particulars of Shareholders (Members): Details include - Full name, Address, Occupation, Valid identification, and Signature. At least one (2) initial shareholders are required (no maximum).

  • Subscribers Details: Include the subscriber's name, address, the number of shares held, the nominal value of each share, and payment information for each share.

Get Started

Benefits of Public Limited Company (PLC) Registration

  • Public Listing and Market Access: A PLC can list its shares on a stock exchange, increasing visibility, liquidity, and access to a broader pool of investors for raising funds through shares, bonds, and debentures.

  • Limited Liability Protection: Shareholders are only liable up to the amount unpaid on their shares, meaning personal assets are protected from the Company's debts or liabilities.

  • Credibility and Public Trust: Registration as a PLC enhances trust and credibility with investors, partners, and customers due to the company's legal recognition and compliance.

  • Perpetual Succession: A PLC enjoys uninterrupted existence regardless of changes in ownership, management, or shareholders, ensuring business continuity over time.

  • Liquidity for Shareholders: Shareholders can buy and sell shares freely on the stock exchange, providing liquidity and investment flexibility.

  • Improved Financial Transparency: As PLCs are required to disclose financial information, this fosters investor confidence and accountability.

  • Protection of Company Name: Registration protects the company name, preventing other entities from using it within Nigeria.

Discover Company Registration Service

Incorporate Public Company Limited by Shares (PLC) in Nigeria

Here's how SplashDict's team of CAC-accredited Chartered Secretaries can help:

  • Company Registration: Nigerian Public Company Limited by Shares (PLC) Registration with the CAC.

  • Documentation: We handle all required registration documents including MEMART.

  • Transparent Pricing: CAC registration and Filing fees are included with no hidden charges.

  • TIN: Tax Identification Number issued upon registration.

  • Quick Turnaround: You will receive the Certificate of Registration, approved MEMART, Status Report, *Share Certificate, and *Company Register with Initial Entries within 3-7 business days.

  • Continuous Support: We assist with future compliance and statutory needs.

Register your Company

More From this Category