Geo-lex Attorney's & Solicitors

Geo-lex Attorney's & Solicitors A full service law firm which specializes on law practice and real estate consulting

02/01/2022

We welcome you to 2022 once again . Be informed that we have commenced our usual Free legal advice for the year 2022.
Dm us with your issues.

Merry Christmas from all of us.
25/12/2021

Merry Christmas from all of us.

Our Managing Partner G C Ohachosim Esq  honoured the invitation of AkwaAmaka TV yesterday for the commissioning of it's ...
03/10/2021

Our Managing Partner G C Ohachosim Esq honoured the invitation of AkwaAmaka TV yesterday for the commissioning of it's Digital live Studio.
It may interest you to note that we have been offering legal solutions to Akwaamaka Production Limited from the date of its incorporation.

CC Anokwute Longinus & Fans. Prince Chijioke Mbanefo Eze-Egwu.

#

01/09/2021
STEP BY STEP TIPS ON SETTING UP A BUSINESS/COMPANY IN NIGERIA BY FOREIGNERS .INTRODUCTIONNigeria seems to be one of the ...
19/08/2021

STEP BY STEP TIPS ON SETTING UP A BUSINESS/COMPANY IN NIGERIA BY FOREIGNERS .

INTRODUCTION
Nigeria seems to be one of the easiest/Cheapest countries to set up a business as a foreign investor. However, foreign investors are finding it difficult to utilize these opportunities as some are ignorant of how the Market works while some fall into the wrong hands. In this write up, we will state the steps of setting up a business in Nigeria as a foreign investor. We are also ready to render free legal advice to investors. Happy reading.

Below are steps to setting up a business in Nigeria.

Step One: Register your Company

The very first step for a foreigner or investor intending to establish a presence in Nigeria is to register the company with the “Corporate Affairs Commission“ (CAC). For foreign-owned companies, the minimum share capital is ten million naira N10,000,000 only. The process takes between one to two weeks to be completed if every necessary document for registration is available. You can invest as a direct investor, Portfolio investor or unregistered Exempted foreign investor. In the former the business may be fully owned by foreign investors in such cases you must obtain necessary permits such as Business permits etc Or a Nigerian may be made a co-Owner of the company and thus some permits become unnecessary.

Step Two: Register with FIRS and State IRS.

Following the incorporation of the Nigerian subsidiary of your organisation, the next thing is to register with the Federal Inland Revenue Service (FIRS) and the state Inland Revenue Service. This will make it possible to get your Tax Identification Number (TIN) which will be useful when remitting tax returns. Value Added Tax (VAT) on goods and services are remitted to the FIRS, while the State IRS gets the Pay As You Earn taxes (PAYE). The process for tax registration takes at least one weeks.

Step Three: Domiciliary Bank Account and Obtain Certificate of Capital Importation

After getting your Tax Identification Number, your newly registered company is required to open a Domiciliary Bank Account with a Commercial Bank in Nigeria. (There are too many commercial banks in Nigeria and all banks in Nigeria are reliable, however, look for the one that corresponds with a bank in your country) This is the account that the minimum share capital of N10,000,000 required by the CAC (see step one) will be paid into. Upon opening the account, you will be given a Certificate of Capital Importation. This document certifies that the funds have been remitted into the bank account. The Certificate of Capital Importation will also prove useful when the company wishes to repatriate its profits beyond the shores of Nigeria. The timeline for opening the account and getting the documents required is wholly dependent on your preferred commercial bank.

Step Four: Register with the Nigerian Investment Promotion Commission(NIPC)

The NIPC is responsible for registering foreign investments in Nigeria. It also acts as a liaison between the government and investors (foreign and non-foreign). Foreign companies who are setting up Nigerian subsidiaries should obtain Business Permit and Expatriate Quota from the Nigerian Investment Promotion Commission (NIPC) and the Federal Ministry of Internal Affairs. The business permit and expatriate quota will enable your company to apply for work permits for its foreign workers. This is in a situation you wish to bring in foreign workers.

Step Five: Obtain all relevant licenses and permits

The final step is to ensure that your company obtains relevant licenses and permits from the relevant Government Authorities. Also ensure that your employment contracts and work manuals comply with the requirements under the Labour Act and Workmen Compensation Act to avoid legal liabilities.

Step into the Market with an Experienced Partners

While the process of setting up a foreign-owned business might seem tedious, having the right partner who will assist you with navigating the murky waters of the Nigerian business environment, will ensure a smooth and successful entry.

At Geo-Lex we have over the years assisted multinationals and foreign-owned companies in successfully establishing in Nigeria. We leverage our legal experience and capabilities to support your business objectives while connecting you with our tested & trusted partners to help make your setting up a business in the Nigerian market smooth and successful.

If you would like to set up a business in Nigeria today, contact us to learn more about how our legal services can provide a successful transition into the Nigerian market for your Business.

Welcome to Nigeria.

JUDICIAL SEPERATION, A TOOL TO SAVING SELF FROM DOMESTIC VIOLENCE WHILE REMAIN MARRIED.IntroductionThere is a rapid incr...
26/04/2021

JUDICIAL SEPERATION, A TOOL TO SAVING SELF FROM DOMESTIC VIOLENCE WHILE REMAIN MARRIED.
Introduction
There is a rapid increase in domestic violence in Nigeria with horrible stories forming news headlines lately. According to UN briefing on gender base violence on the 4th day of May 2020 there is a general increase in GBV across all six geopolitical zones in Nigeria and service providers have reported sharp increases in cases of intimate partner violence and domestic violence. Most victims of domestic violence (most especially women) do not wish to leave the marriage for one reason or the other even at point of death yet have no option as to what to do to save themselves from such marriage misfortune.
The purpose of this write up is to give solution to these persons whom as a result of domestic violence or other matrimonial problems would on the face of it want a divorce but for some reasons (such as love for the partner, children of the marriage, stigma associated with divorce in some villages etc.) would prefer to remain married. Happy reading.

SEPARATION
Separation here simply means a situation where the couple ceases to cohabit. According to Black’s Law Dictionary, 10th edition, Judicial separation means ‘’an arrangement whereby a husband and wife live apart from each other while remaining married, either by mutual consent or by judicial decree: the act of carrying out such arrangement’’
Separation may be by agreement or by order of court. If separation is by order of court, it is called a decree of Judicial Separation. It is the later that forms the subject matter of our current discussion.
Under section 41 and 42 of the Matrimonial causes Act and the case of Emmanuel v. Funke (2017) LPELR-43251 (CA) A decree of judicial separation relieves the parties from the obligation to cohabit while it is in the operation, all other rights, responsibilities and obligations remain intact.
The obligations that are not affected by legal separation include the followings:
1. Neither party can remarry while the decree subsists
2. The marriage is still intact
3. The welfare, maintenance and education of the children of the marriage must be catered for.
4. Either party may institute an action against the other in contract or tort.
5. Where either of the party dies intestate (without a will) property of the deceased shall devolve to the surviving party.
6. Where the husband is ordered by the decree to pay maintenance to the wife and defaults, he shall be held liable for necessaries supplied for the wife's use.

GROUNDS FOR JUDICIAL SEPERATION
A decree of judicial separation can be made in any of the circumstances stated with respect to grounds for dissolution of marriage under section 15(2) & 16(1) see section 39 of the Matrimonial Causes.
It therefore follows that a decree for judicial separation is not simply granted, the parties must prove either of the acts stated in Sections 15(2) and 16(1) of the Act.
A party must in the petition filed before the High Court in Nigeria site any one or more of the following as the ground for a decree of judicial separation: thus
1. That the respondent has willfully and persistently refused to consummate the marriage
2. That since the marriage, the Respondent has committed adultery, which the Petitioner finds it intolerable to live with. Such acts include, r**e, so**my, be******ty, habitual drunkenness, drug addiction, is of unsound mind etc
3. That the Respondent has deserted the Petitioner for a continuous period of 1 year immediately preceding the filing of the petition.
4. That the parties have lived apart for a continuous period of 2 years or 3 years immediately preceding the filing of the petition, however for that of 2 years, the Respondent does not object to the granting of the decree
5. That the other party has refused to comply with a decree for restitution of conjugal rights for at least a year.
6. That the other party has been absent from the marriage for such a time to raise reasonable presumptions of death.
This is an alternative to divorce as it does not deprive a married woman from other benefits of marriage other that cohabitation.
DISTINCTION BETWEEN LEGAL SEPARATION AND DISSOLUTION OF MARRIAGE
The legal separation is different from the dissolution of marriage because, in dissolution of marriage, the parties cease to have any legal duties or obligation to each other. A decree absolute in the dissolution of a marriage brings an end to the marriage and the parties can remarry/ contract fresh marriage as if the marriage never existed while the judicial separation does not dissolve a marriage.
The process used in instituting a legal separation in Nigeria is by a Petition filed at any High Court in Nigeria.
EFFECT OF JUDICIAL SEPARATION
A decree of Judicial Separation when ordered by the Court relives the petitioner from the obligation to cohabit with the other party to the marriage while the decree remains in operation but it does not affect the marriage or the status, right and obligations of the parties to the marriage.
Under Section 44 of the Act, it states that a decree of Judicial Separation does not prevent the institution of the petition for divorce if either party to the marriage chooses to petition for a decree of dissolution of marriage.
It is also important to note that, the court, where the parties voluntarily resume to start cohabiting, can discharge a decree of Judicial Separation. This is done by both parties applying to the court for an order discharging the decree as provided under Section 45 of the Act.

CONCLUSION
Kindly contact your lawyer for a petition for Decree of Judicial Separation if he/she is beating you/maltreating you and you find it intolerable. It is better to be separated for some years or months than to die in silence as it is not always easy to walk away from any marriage.

Thanks for reading.

At Geo-Lex Attorneys & Solicitors, we render topnotch legal services

Follow us on twitter and here on FB for more free legal gist.

MORE REASONS YOU SHOULD REGISTER YOUR COMPANY/BUSINESS NAME IN NIGERIA.Do that business a favour today and enjoy the ben...
20/04/2021

MORE REASONS YOU SHOULD REGISTER YOUR COMPANY/BUSINESS NAME IN NIGERIA.

Do that business a favour today and enjoy the benefits.

Thanks

At Geo-Lex, we render top-notch legal services and business development advice.

NOTICE TO COMPANY OWNERS IN NIGERIADear company owners;Shares of every company must be fully subscribed following the ne...
19/04/2021

NOTICE TO COMPANY OWNERS IN NIGERIA

Dear company owners;

Shares of every company must be fully subscribed following the new CAC guidelines and the Company and Allied Matters Act 2020. As a matter of fact, Under the new CAMA "share capital" ''means the issued share capital of a company at any given time'' (see also section 124 of CAMA2020)This gives no room for unissued share capital in the Nigerian corporate world.

Therefore, kindly consult your lawyer for advice as this must be done on or before the 31st day of December 2022 or face a punitive cost.

Regards.

At Geo-Lex, we provide top-notch legal services .

Are you aware?The Federal Republic of Nigeria has banned the use and purchase of Cripto currency in Nigeria?Bellow is th...
05/02/2021

Are you aware?

The Federal Republic of Nigeria has banned the use and purchase of Cripto currency in Nigeria?
Bellow is the CBN circulate to that effect.

14/01/2021

FREE LEGAL SERVICES AT GEO-LEX

Hey friends, happy new year to you all.

Having in mind that the beginning of every financial year posses its unique challenges expecially this pandemic era. We at Geo-Lex Attorneys and Solicitors with the intention to assisting small scale business owners and real estate investors hereby annouce a one month free legal advice to all our clients starting from the 20th of January 2021 to the 20th of February 2021. Bring in your legal problems for solutions at no cost.

How to reach us:
Chat us up at GEO-LEX Attorneys & Solicitors here on Facebook,
WhatsApp:+123-8034123162 or
visit our office at 16 Awolowo road Ikoyi, Lagos State on appointment.

Have a prosperous year.

Address

16 Awolowo Road Ikoyi
Lagos

Alerts

Be the first to know and let us send you an email when Geo-lex Attorney's & Solicitors posts news and promotions. Your email address will not be used for any other purpose, and you can unsubscribe at any time.

Share