Music Company Incorporation

1710Media is equipped with accredited experts and the necessary resources to assist you complete Music Company Incorporation as a Private Limited Company (LTD) in Nigeria. 

Need Help Forming a Private Limited Company for your Music Business?

Are you an aspiring record label owner, artist, songwriter, producer or influencer looking to take the first set in properly setting up your business? We help creatives take the first step in entrepreneurship. Let us assist you with the formation of your business.

Private Limited Companies are used to conduct regular commercial businesses with the purpose of the owners making a profit, whilst providing limited liability protection. Artists & Labels risk personal liability when they operate unprotected.

To incorporate a company limited by shares in Nigeria, a minimum number of 1 member and a maximum of 50 members are required. The minimum share capital to incorporate a company is; 100,000 Naira and the name shall end with the word, “Limited” or "Ltd".

Private Limited Company has to obey specific rules and regulations that are mentioned in the Memorandum of Association (MoA) and Article of Association (AOA) which provides the guidelines for mutual rights and duties (We'll provide both MOA & AOA for free).

Features

Music Company Incorporation Features

Separate Legal Entity

LTD is considered a separate legal entity that possesses all the rights to sue or to be sued. It acts as an artificial person and can buy any property or assets in its own name.

Uniqueness

When you register a company name, it is protected and cannot be used by any other limited company, nor can another company register a name that is similar to your own company name.

Certificate of Incorporation

Upon incorporation, we deliver the Certificate Of Company incorporation, MEMART, Status report, and CTC of application.

Perpetual Existence

A private company limited by shares enjoys perpetuity and can outlive the directors or members upon their death.

Protection

The company is held separately for any wrongdoing. Any legal action is filed against the company and not its directors, artists, nor members.

Enhanced Credibility

LTD structure can enhance the credibility of your Music business. People typically feel more comfortable writing checks to a business entity rather than to an individual.

Legitimacy

A private company uses the word Limited (LTD) after the name of the company, which is mandatory for all private companies to use.

Investment Opportunity

A private company has the advantage of giving the opportunity to an investor who does not wish to be actively involved in the running of the business to invest capital into the business.

  • Incorporation of a Private Company Limited by Shares (LTD) in Nigeria.

  • Share capital between 100,000 - 1,000,000 naira. 

  • Delivery of Certificate Of Company incorporation.

  • Drafting and delivery of approved Memorandum of Association and Articles of Association (MEMART).

  • Delivery of Status Report.

  • Delivery of Certified True Copy of Application Form.

  • FIRS' Tax Identification Number Inclusive.

  • Corporate Bank account opening.

  • 3 to 14 Business Days Delivery.

F.A.Qs

Check out some of the Most Frequently asked questions relating to Music Company Incorporation.

It’s an umbrella term for a vast network of companies and individuals that create and sell music products.

Music Business means the world-wide business (as presently conducted or as may be conducted hereafter) of the Company and its Subsidiaries of personal and career management for Artists and all other aspects of the music industry, including without limitation, recording activities, songwriting and music publishing, touring, tour sponsorship, commercials, personal endorsements, performances, fan clubs, merchandising, ticket selling and other professional activities related thereto.

A company is a legal entity formed by a person or group of individuals to engage in and operate a business—commercial or industrial—enterprise.

A company limited by shares is a corporate entity that is legally separate from any directors and shareholders. As it can stand alone as a legal entity, it can enter contracts as a company and hold assets in its name.

The word limited here refers to the shareholder's limited liability. They are only responsible for any company debts up to the value of their shares within that company. No personal assets are at risk.

To complete the Registration of Your Company in Nigeria, you'll have to provide the following details upon Submission;

  • Proposed Name of the Company (2 Names).
  • The objectives and nature of business of the company.
  • Address of the company.
  • The share capital and shareholding formula among shareholders.
  • Details of all Shareholder(s), Director(s), and Secretary. Details such as; names, occupation, residential address, email address, mobile phone number and means of identification (National Identification Card, Data Page of International Passport, Driver’s Licence or Voter’s Card).

We have a record of Incorporating a company in 48 Hours. The time taken for registration will depend on the submission of relevant documents by the client and the speed of Government Approvals. 

Name Search: 6 - 24 hours from submission.
Grant of Certificate of Registration: 2 - 7 Days from filing.
Total time: Approximately 2 - 10 days.

The Director needs to be over 18 years of age and must be a natural person. There are no limitations in terms of citizenship or residency. Therefore, even foreign nationals can be Directors in a Nigerian Private Limited Company.

Shareholders are people who own shares in a limited company – and shares indicate how ownership of the company is divided. Therefore, shareholders collectively own the business.

Anyone, including both individuals and organizations, can be a shareholder in a limited company. Shareholders have a say in some company decisions (‘voting rights’), like changing the company name and appointing or removing directors. But shareholders don’t run the company unless they’re also directors.

To incorporate a private limited company, a minimum of 1 person is required. A private limited company must have a minimum of 1 Director and can have upto a maximum of Fifty Shareholders.

Registration of a business name is obligatory if any individual, partnership, or any body corporate carries on business under a name other than their own true name. No legal entity is formed and there is no limitation on liability.

A business name has no shareholders, directors, or secretary and many of the legal responsibilities which apply to companies do not apply to business names.

In Nigeria, when a company is incorporated, it is a separate legal entity and therefore, is separate and distinct from those who run it. A company name includes appropriate suffixes, such as LTD, Limited, or PLC. This is to ensure that the entities dealing with the company know its legal status.

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