As a consultant, I get many people asking me how they can float a group of companies.

It is not enough to have different businesses and call yourself an owner of a group of companies. That's not what makes it a "group"

1. First of all, to register a group you must have the consent of the Registrar General of the Corporate Affairs Commission to use the word group.

You cannot just wake up and decide to register "Tiger woods group of companies" without the required consent.

In naming your company there are some words that you cannot use unless you apply for consent, words like, Groups, holding, Consortium, Municipal, etc require the consent of the RG of CAC.

2. To float a Group of Companies, you must have evidence of at least 3 registered companies with similar names.

It has to be 3 registered Limited Liability companies. You can't have 2 Ltd and 1 business name (enterprise) etc.

3. Evidence of Common Membership of the associate Companies

The Directors, Shareholders, and other principal officers of the Company must be the same in all three Companies.

4. The Associate companies must resolve to float a Group.

All directors must consent to the group relationship..

5. Updated annual returns. If they are already existing companies they must have evidence of payment of annual returns from the year of registration to the current year in issue.

6. A statement that the "Group" shall acquire more than half of the authorized share capital of the associate Companies within 90 days of its incorporated.

For example, to float #BarilexGroup, We have to have ABC Ltd, 123 Ltd, and XYZ Ltd as already registered independent Companies (Associates).

Barinaada and Alex Iheanacho have to be directors in all three Companies to enable us to form a fourth Company.

The new Company floated (The Group) must have a nominal share capital that is not less than the highest share capital of the other associate companies.

This fourth Company ( Group) will also act as the parent company while the other associate Companies will become the subsidiaries.

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