Quick legal advice for Business and Company owners out there; if you ever plan on using your company to acquire a business visa to go on a business trip in a foreign country then always ensure to file your company annual returns as at when due so your company profiles on the Corporate Affairs Commission website will not show “inactive” status.
When a company profile indicates inactive status it is presumed that the company or the business has been dormant; it has not been in operation; it may still be existing but it is no longer in use. Inactive business status simply means that although the company still exists in the eyes of the law, the company has no record of activity taking place. It can also mean that the company has had no business transactions in a particular year.
Where a registered company has not filed its annual returns up to date with the Corporate affairs commission, the status of the Company is indicated as ‘INACTIVE”. The INACTIVE status of a company is the function of the company’s failure to file its annual returns.
Tekedia Mini-MBA edition 14 (June 3 – Sept 2, 2024) begins registrations; get massive discounts with early registration here.
Tekedia AI in Business Masterclass opens registrations here.
Join Tekedia Capital Syndicate and invest in Africa’s finest startups here.
It is compulsory for every registered businesses/ companies to file their annual returns with the Corporate Affairs Commission not later than the 30th of June every year, this is the only way to let the Commission know that your company is still operating; failure to do that the business will be deemed to no longer be in operation, hence it will be profiled as inactive by the corporate affairs commission.
CAC annual return is a report that businesses or companies must send to the corporate affairs commission every year by updating the commission on the transactions or activities that took place within the company for that particular year and also notifying the commission of any ongoing activities with the organization.
If your business or company has been profiled with the “Inactive” status on the CAC official website, it means that the CAC no longer has updated details about the ongoing activities with your company and you are expected to update it with them.
You cannot use an Inactive business to apply for a business visa for business trips, that is why as a business owner who has the plan of applying for a business visa to constantly file your annual returns as at when due with the CAC.
Annual returns can be filed by the company’s solicitor on behalf of the company or by the company’s secretary.
Consult your lawyer or your company Secretary to let you know how to file your annual returns and get your company active again.
People are ready to file return. But cac is making it agent job to do. Meanwhile agent are charging mush for what cac can make every individual be able to file from the comfort of their home/office and the money will come in. Then anyone that wish to contract agent can do so at their own cost.
Cac, should make it easy for anyone who wishes to file their returns/ update their BN or RC ( inactive to active) from the Comfort of their Homes.
Those who wishes to go to agents can as well do so,
Imagine cac official asking a client to pay for him to be able to push forward his file returns, what a Nation
This post does not state whether the Inactive status affects Visit Visa applications
Please how long will it take to change the status from INACTIVE to ACTIVE when you file the Returns?
please any agent that can do so should contact me on 08036176980.
Hello, please what is amount # of the annual re return of a company.
Is it okay to do business with a company whose status is inactive?
Message me here 09161721523
Message me here
09161721523
I cannot even login into my account. Efforts to change the password were to no avail
I can not even login into my account. Efforts to change the password were to no avail
If I do business with a company whose status is inactive and they didn’t deliver on their job, what claims do I have?
Is it okay to do business with a company whose status is inactive?
No its not okay. File your annual returns to reactivate your company.