How to register Partnership Company in Nigeria

 

Partnership business enables two or more individuals with a common goal to pool resources to start a business venture.

Business is one of the best things to do to realize dreams. Even with a million degrees, without a business venture, you will only be used by people you work for; at the end of the day you will hate yourself. To be your own boss, you must own a business.

Nigeria has several business opportunities which require a partnership company. To register a partnership business in Nigeria, the following is the procedure to follow:

  • Conduct a name search at the Corporate Affairs Office to determine whether the name you intend to use for your business is legitimate.
  • Obtain a name reservation form from the nearest Corporate Affairs Commission.

Fill the form and attach the following documents

  • Passport Sized Photograph
  • Degree or professional certificate.

The name reservation form contain the following

  • Address and place of business
  • Address of the principal place of business including plot number, name of building or street.
  • Copy of College Certificate for one of the partners.
  • Full names of partners.
  • Name of the business
  • Nature of Business
  • Passport for each partner
  • Passport photo for each partner
  • Postal Address

Once you have filled the name reservation form, you will be required to have a partnership deed.

A partnership deed can be prepared by a qualified lawyer. Alternatively, you can download a sample of partnership deed and modify it to suit your company details.

A partnership should contain the following details

  • Name of the firm.
  • Names and addresses of the partners.
  • The nature of the business.
  • The term or duration of partnership.
  • The amount of capital to be contributed by each partner.
  • The drawings that can be made by each partner.
  • The interest to be allowed on capital and charged on drawings.
  • Rights of partners.
  • Duties of partners.
  • Remuneration to partners.
  • The ratio in which the profits or losses are to be shared among the partners.
  • The basis for the calculation of goodwill at the time of admission, retirement, and death of a partner.
  • The keeping of proper books of accounts and the preparation of Balance Sheet.
  • Settlement of amount on the dissolution of the firm.
  • The procedures to be adopted in the case of disputes among the partners.
  • Arbitration clause.

Once you have submitted the partnership deed and name reservation form, you will be required to wait for 2 to 4 weeks to get a certificate of incorporation.


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