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Apply for Letter of Good Standing Status Report Restricted Name Consent

Apply for Letter of Good Standing Status Report Restricted Name Consent here. This post gives you directives on how to apply for Letter of Good Standing, Consent for Restricted Names and Status Report from CAC. As a matter of fact, there is need for Corporate Affairs Commission application letter and registration portal login details. Then public search cac gov ng comsearch, corporate affairs commission list of registered companies and checks for business name availability.

As a business person you may need to verify certain things with CAC. In fact, organisations, and even government agencies would want to verify another entity’s good standing. That will necessitate demand for a letter of good standing. Others would want to verify the performance and even the existence of another entity. This will also necessitate a demand for status report. And, when you want to get clarification for use of restricted name, you have to apply for it. Now, join me on the highlights of these concepts.

The Highlights:

As a matter of fact, here are the highlights of these concepts. There are detailed explanations of the concepts. There are also details of the application requirements and procedures to follow.

Apply for Letter of Good Standing Status Report Restricted Name Consent

Letter of Good Standing

A Certificate of Good Standing, also called a “Certificate of Existence” or “Certificate of Authorization,” is a state-issued document. As a state agent, CAC issues this to show that your corporation or limited liability company has met its statutory requirements. And, thereby authorized to do business in the country. In fact, you have to think of it as a kind of ‘snapshot’ of your business’s compliance status.

Among other things, a Certificate of Good Standing confirms that your business:

  •  Is up-to-date on its statutory fee payments
  • Has up-date filed annual reports
  • Has met other corporate statutory requirements

As a matter of fact, there are likely going to be times you will need a Certificate of Good Standing of your business. In fact, many companies request a Certificate of Good Standing occasionally for their own records.

Furthermore, a Certificate of Good Standing may also be required by:

  •  A government agency, if you’re applying for certain foreign qualification.
  • Lenders – when you want to obtain financing
  • Banks – for certain transactions confirmations
  • Intending business partners or investors

As a matter of fact, there may be need for you to present your Certificate of Good Standing in order to renew specific licenses or permits. And when you want to sell, acquire or merge your business with others, a Certificate of Good Standing becomes important.  In addition, if you are looking to register to do business in other states, those states agencies may ask for a copy of your Certificate of Good Standing. In fact, you may use this also to promote your business.

What does this document contain? This certificate generally contains the name of your organisation. It also has a brief clause stating what businesses your organisation is allowed to do.

Consent for Restricted Names: 

Restricted names can’t just be registered with CAC. There must be a permission to do so. Such restricted names are names containing any of the following words:

  • Federal, National, Regional or State Government or
  • Suggesting patronage of Federal or State Government, Ministry or Department
  • Municipality or other local authority – Municipal or Chartered or
  • Suggesting connection with any Co-operative or Building Society
  • Group or Holding
  • Or any word suggesting temporary business arrangements, e.g. consortium

Therefore, such names as “chamber of commerce” unless it’s a company limited by guarantee.  Again, name, which in the opinion of CAC, is capable of misleading as to the nature or extent of its activities or is undesirable, offensive or otherwise contrary to public policy. Names which, in the opinion of CAC, would violate any existing trade mark or business name registered in Nigeria, unless the consent of the owner is obtained.

Apply for Letter of Good Standing Status Report Restricted Name Consent

Status Report or Corporation Profile Report:

Status report also known as Corporation Profile Report displays current information on the public record for the Organisation. In fact, all active directors and officers re listed. Then are some historical information such as change of name or merger or acquisition. In fact, it carries the history of the entity’s profile.

So, when you’re faced with questions, such as, how do I know that a company is incorporated?  Or how can I know the owners or directors of an organisation? This is the report you need.

In summary, status information are broadly categorize as active or inactive. In fact an organisation can easily be reclassified as inactive if it fails to comply with its statutory filings.


Apply for Letter of Good Standing Status Report Restricted Name Consent – The Process:

Finally, the process is simple. But it’s simpler when an accredited agent handles the request. That’s why I want to introduce our firm to you. We’re CAC accredited consultants.  Check us out on this site to find out more things we can do for you. We are professional accountants, tax managers and business consultants. Trust us. Our years of industry experience will help you so much.

As a matter of fact, Complete Entrepreneurship Summit (CESSUMMIT), the owners of this website, is an entrepreneurship empowerment outfit. Our goal is to help out every entrepreneur in need of information. In fact, through seminars, workshops, training and mentorship programmes, we empower business entrepreneurs.  So, feel free to contact us for your entrepreneurial challenges including applying for Letter of Good Standing, Consent for Restricted Names and Status Report from CAC.  Call +234 9053130518 (office time)/ 08121687036 or email to cessummit0518@gmail.com.

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