CAC ISSUES PUBLIC NOTICE ON MINIMUM PAID-UP CAPITAL FOR COMPANIES WITH FOREIGN PARTICIPATION

CAC issues public notice on minimum paid-up capital for companies with foreign participation. Foreign owned companies must now have 100 million naira minimum paid-up capital. The Commission wishes to notify the General Public that it has, in line with the Revised Handbook on Expatriate Quota Administration (2022), commenced the implementation of the requirement of N100,000,000 (One Hundred Million Naira) MINIMUM PAID-UP CAPITAL for Companies with foreign participation. Accordingly, any application for incorporation of a Company having foreign participation shall not be processed unless it complies with the above requirement.

Existing Companies with foreign participation that have less than N100,000,000 paid-up capital are hereby advised to ensure compliance with the above requirement not later than six (6) months from the date of this notice, failing which the Commission shall commence proceedings for the compulsory winding-up of the Companies under Section 571 (e) of the Companies and Allied Matters Act 2020.

For more information, kindly contact us at :

E-mail: care@sowprofessional.com

Website: www.sowprofessional.com

Phone: 07038254989

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CAC ISSUES PUBLIC NOTICE ON MINIMUM PAID-UP CAPITAL FOR COMPANIES WITH FOREIGN PARTICIPATION

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