- There are different structures by which a business may be run in Nigeria.
- The popular structures range from Partnerships, Companies and Sole Proprietorships.
- There are varying forms of partnerships in Nigeria.
Types of Partnerships in Nigeria
These forms are the ordinary general partnerships, limited partnerships, limited liability
partnerships.
The regulatory agency for registrations of all business structures in Nigeria is the CAC, who has
also prescribed registration steps for the different business structures.
What Are These Partnerships?
The ordinary partnerships involve two or more persons who come to do business with a view to
making profit. The limited liability partnerships involve two or more persons with a maximum of
twenty persons while the limited partnerships, being the only one with a corporate personality
involves a minimum of two partners with no cap on the maximum number of partners.
Registration Steps For Partnerships
While there are different levels of partnerships, the mode of registration is quite uniform with
only the supporting registration documents separating the registration steps.
How To Register A Partnership In Nigeria
Reservation of name with CAC
It is important to note that at least two names must be indicated. The names must also end with
a LP or LLP as the case may be.
Payment of the prescribed registration fees.
Draft a Partnership Agreement. This is one of the most important details of registration. One of
the supporting documents for registration with CAC is the partnership agreement. This would
define the terms of the partnership, profit sharing, membership, liability, etc.
Registration with CAC shall be accompanied by the required documents, including, names,
addresses of partners, terms of agreement, commencement date, declaration of liability of
partners depending on the LP or LLP, passport photographs and signatures of partners etc.
After approval by CAC, obtain a Certificate of Incorporation. This is usually downloaded from
your dashboard on CAC website.
Importantly, the mode of registration for both Limited Partnerships and Limited Liability
Partnerships are quite uniform. It’s however crucial to consult and engage a corporate to
ensure a seamless registration process. It’s also instructive to point out that virtually all
activities involving CAC are being fully digitized, meaning that, interested individuals may now
take up responsibility in self registration by following the steps laid down on the CAC portal.
References
1.https://nigerianfinder.com/how-to-register-a-partnership-business-in-nigeria/ Accessed on Feb 22
2023
2.Opeyemi Quadri, “How To Form A Limited Partnerships Business Under Nigerian CAMA” available
at, https://infomediang.com/limited-partnership-registration-nigeria-cama-2020/ Accessed on Feb 22
2023
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