Change Of Person With Significant Control/Change In Particulars Of Person With Significant Control
NGN 17,000.0
3 days
Corporate Amendment
Description
Information about the compliance service
A Person with Significant Control (PSC) is a natural or juristic person who owns or controls a company, or a person on whose behalf company transactions are conducted. PSCs are individuals who own more than 5% of the company's total shares. These individuals exercise significant influence over the company's operations and decision-making processes. A PSC can control company activities either directly or indirectly.
Requirements
Info and documents needed for this service
- Means of identification of the new Person with significant control (PSC).
- Details of new Person with significant control (PSC).
- Address of the new Person with significant control (PSC).
- Details to be changed [as applicable].
- Company Details.
Process
Steps involved in this compliance service
- Submit details of new Person with significant control (PSC) or new details to be changed [as applicable]
- Confirm the company's details.
- Pay fees.
FAQs
Frequently asked questions about this service
- Are there sanctions for non-submission or late submission of PSC information?
Yes, there are sanctions for non-submission, late submission or false statements in PSC information. Such sanctions includes daily monetary penalty against the PSC after a seven day grace period, restriction on the relevant interest of the PSC, imprisonment for two years or other penalties by the CAC.
2. Can the details of a PSC be changed?
Yes, companies can change their PSC information when changes occur. This must be filed with the CAC to maintain accurate company records.
2. Can the details of a PSC be changed?
Yes, companies can change their PSC information when changes occur. This must be filed with the CAC to maintain accurate company records.