Change of Business Nature of Limited Partnership (LP)

Change of Business Nature of Limited Partnership (LP)

NGN25,000

Update the Declared Activities of Your LP with CAC

A Change of General Business Nature of a Limited Partnership (LP) involves modifying the core business activities or operational scope of the partnership as initially registered with the Corporate Affairs Commission (CAC).

Whether your LP is expanding into a new industry, undergoing a strategic shift, or adapting to market changes, it is mandatory to formally update your records with CAC to reflect the new nature of business. This ensures full legal compliance and operational transparency.

Service Fee (All inclusive):

NGN25,000

Modify General Business Nature of Limited Partnership (LP) in Nigeria

Here’s how SplashDict’s CAC-accredited experts assist you:

  • Filing & Documentation: We handle filings and documents for Change of Business Nature with CAC.

  • Official Update: Receive an updated CAC Status Report reflecting updated classification and business activity.

  • Transparent Pricing: Includes CAC filing fees and professional handling; no hidden charges.

  • Fast Processing: Completed within 2 to 7 working day(s), subject to CAC approval.

  • Ongoing Support: Our Chartered Secretary and corporate services team provide ongoing expert help for regulatory and statutory needs.

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Why Update Business Nature of a Limited Partnership (LP)?

Updating the business nature of a Limited Partnership (LP) is crucial for several reasons, including maintaining legal compliance, reflecting changes in business activities, and ensuring accurate information with the Corporate Affairs Commission (CAC).

This ensures transparency and allows the LP to operate smoothly within legal frameworks, access necessary services, and maintain credibility with stakeholders.   

  • Accurate Representation: The business nature of an LP, as recorded with the CAC should accurately reflect its current operations. This ensures the LP is not operating outside its authorized scope, which could lead to legal issues.

  • Access to Services: Many services, such as banking, loans, grants, and participation in tenders, may require proof of the LP’s registered business activities. An accurate and up-to-date business nature facilitates access to these services.

  • New Activities: If the LP expands its operations into new areas or changes its core business focus, the business nature should be updated to reflect these changes.

  • Strategic Adjustments: Business strategies may evolve over time, and the business nature should be adjusted accordingly to accurately represent the LP’s current direction. 

  • Operational Adjustments: Changes in the way the LP operates, such as adopting new technologies or expanding into new markets, may also require updates to the business nature.

Other CAC Post-Registration Services

Requirements for Filing Change of Business Nature of LP with CAC

  • LP Details: Full business name and CAC registration number.

  • Updated Principal Business Activity: Provide the updated Principal Business Activity, along with a brief, accurate description of your LP’s revised business focus.

  • Resolution: Signed resolution from the General Partner(s) authorizing the change.

  • Updated Annual Returns: Ensure all LP Annual Returns are filed before making post-registration changes.

  • Authorization: Application must be signed by a General Partner or authorized signatory.

Update Business Nature

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