Conversion of Business Name to Private Limited Company (LTD)

Conversion of Business Name to Private Limited Company (LTD)

From: NGN55,000

Convert Your Registered Business Name to a Private Limited Liability Company (LTD) with CAC

Upgrading from Business Name to LTD in Nigeria is a strategic move that allows your business to grow with more credibility, structure, and legal protection.

Many Nigerian entrepreneurs start their journey with a Business Name registration due to its simplicity and lower cost. However, as your business grows, it’s often necessary to upgrade to a Private Limited Company (Ltd) to enjoy more credibility, limited liability protection, better funding opportunities, and corporate structure.

  • *Select Share Capital:

Service Fee (All inclusive):

From: NGN55,000

Start Your Business Name to LTD Conversion in Nigeria

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

  • Filing & Documentation: We handle filing and required documents for the Conversion of Business Name to Private Limited Company (LTD) with CAC.

  • Official Confirmation: Receive Certificate of Incorporation (with Tax Identification Number), CAC Status Report, and Memorandum & Articles of Association (MEMART) for new Company.

  • Transparent Pricing: Covers CAC fees and our service fee with no hidden charges.

  • Fast Processing: Completed within 2 to 10 working day(s), depending on CAC approval.

  • Secure Document Access: Your incorporation documents are securely stored online, accessible for free anytime, no need to pay CAC for re-downloads.

  • Ongoing Support: Get expert help from our Chartered Secretary and compliance team for all regulatory needs.

Get Started now!

Private Limited Company (LTD) Incorporation in Nigeria

Why Re-Register Your Business Name as an LTD?

Re-registering your Sole Proprietorship or Partnership Business Name as a Private Limited Company (LTD) in Nigeria is a strategic decision that offers significant advantages and key features for business growth, stability, and professional recognition.

  • Retention of Business Identity: Maintain your existing business name with “Limited” or “Ltd” as a suffix, subject to CAC approval.

  • Protection of Personal Assets: A primary reason for choosing a private limited company is the protection it offers to the owners' personal assets. If the company incurs debts or faces legal issues, the owners' personal assets (like homes, cars, etc.) are generally shielded from being used to settle those debts. 

  • Separate Legal Entity: The company is distinct from its owners, enabling it to own property, enter contracts, sue, or be sued independently.

  • Private Ownership Structure: Shares are privately transferable, with a maximum of 50 shareholders, and public trading is prohibited, maintaining control.

  • Professional Credibility: Incorporation is essential for opening business bank accounts, applying for licenses, and building trust with customers, investors, government agencies, regulators, financial institutions, and the public.

  • Exclusive Name Rights: Your company name is protected under CAC, preventing others from using it within Nigeria.

  • Perpetual Existence: The company remains legally active regardless of changes in ownership or management.

  • Access to Funding: LTDs can raise capital by issuing shares or securing loans from financial institutions more easily than unregistered businesses.

  • Perpetual Existence: A private limited company has perpetual existence, meaning it continues to exist even if the original owners leave or change.

  • Potential Tax Benefits: Small companies (turnover under ₦25 million) are exempt from Company Income Tax (CIT) under Nigerian law.

  • Annual Compliance Requirement: Private Limited Companies must file annual returns and adhere to CAC regulations to maintain active legal status.

CAC Registration Service

Requirements for Conversion of Business Name to Private Limited Company with CAC

  • Up-to-Date Annual Returns: All outstanding annual returns for the Business Name must be filed.

  • Business Name Certificate: Provide the original Certificate of Registration.

  • Consent Letter: Provide a consent letter from the proprietor(s) authorizing the conversion.

  • Proposed Company Name: Two unique name options for CAC availability search and reservation.

  • Business Activity (Objects): Clear description of the company’s primary business purpose or activities.

  • Registered Office Address: The physical business address in Nigeria where the company will be located.

  • Statement of Issued Share Capital: Provide the total number of issued shares, their nominal value, and share classes (e.g., equity or preference).

    Minimum authorized share capital of ₦100,000 (higher for certain regulated sectors).

  • Memorandum and Articles of Association (MEMART): A draft document outlining the company's constitution, objectives, share capital, and internal governance rules.

    Can be customized or use CAC’s template.

  • Membership: Requires at least one initial member (individual or corporate body).

  • Particulars of Director(s): Details include Full name, Address, D.O.B, Gender, Occupation, Valid identification, Signature, and Consent to act as a director.

    At least one director (for small companies) or two for other private companies (maximum 15 directors).

  • Particulars of Initial Shareholders: Details include Full name, Address, Occupation, Valid identification, and Signature. Also provide the number of shares held, the nominal value of each share, and payment information for each share.

    Maximum of 50 shareholders are allowed in LTD.

  • Particulars of Secretary: Details include Full name, Address, Valid identification, and Signature.

    Required for non-small companies (optional for small companies).

  • Particulars of Persons with Significant Control (PSC): Details of any individual or entity holding more than 25% ownership, voting rights, or significant influence over the company.

Start Company Registration

RELATED SERVICES