{"id":1250421,"date":"2022-11-14T16:37:33","date_gmt":"2022-11-14T16:37:33","guid":{"rendered":"https:\/\/www.ghanamma.com\/2022\/11\/14\/office-of-the-registrar-of-companies-increases-business-penalty-fees\/"},"modified":"2022-11-14T16:37:33","modified_gmt":"2022-11-14T16:37:33","slug":"office-of-the-registrar-of-companies-increases-business-penalty-fees","status":"publish","type":"post","link":"https:\/\/www.ghanamma.com\/2022\/11\/14\/office-of-the-registrar-of-companies-increases-business-penalty-fees\/","title":{"rendered":"Office of the Registrar of Companies increases business, penalty fees"},"content":{"rendered":"

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The Office of the Registrar of Companies (ORC) has announced that there will be an increase in the renewal fee for Business Names from \u023c25 to \u023c30\u00a0 and penalty fee for Companies and Partnerships in default from \u023c450\u00a0 to \u023c600\u00a0 effective 31st<\/sup> December, 2022.<\/p>\n

This increment in fees would apply to all Sole Proprietorships and Subsidiary Business Names as well as Companies in default including Churches, Associations, Unions, Foundations, Schools, Fun Clubs, External Companies and Professional Bodies.<\/p>\n

\u201cCompanies are to file their Financial Statements together with their Annual Returns at a cost of \u023c60.00 per year to renew their Companies. External Companies are to submit their Group Accounts to the ORC at a cost of $690.00 per year or in default pay a penalty of $750.00 in addition to fees for all the years in default. Partnerships are to renew their Partnerships at \u023c60.00 per year,\u201d a statement from the ORC said.<\/p>\n

The statement added that the 2,584 Companies in default whose names have been earmarked for strike off from the Companies Register during the clean-up exercise can still be in good standing by filing their Annual Returns by end of year, 2022.\u00a0<\/p>\n

\u201cAll Business Entities (Companies, Partnerships, and Sole Proprietorships) yet to migrate their business records onto the e-Registrar application dubbed \u2018Re-Registration\u2019 have up to 31st<\/sup> January, 2023 to do so and be in good standing to avoid sanctions\u201d.<\/p>\n

The statement explained that in compliance with the provisions of the Companies Act, 2019 (Act 992), a Company Secretary is expected to submit a Special Resolution for a change of Company Name if they have not complied as yet to the directive, by the addition of an appropriate \u2018suffix\u2019 to the end of their Company\u2019s Name by 31st<\/sup> December, 2022.<\/p>\n

\u201cAll Companies who have not as yet adopted a Registered Constitution reflecting the changed name in place of their Company\u2019s Regulations are also being reminded to do so before the end of the year, 2022\u201d.<\/p>\n

\u201cThe Office entreats our cherished clients to make payments on transactions at our in-house Fidelity Bank or any Fidelity Bank branch across the country. We kindly bring to the attention of our clients and issue a caution to ignore any calls from fraudsters, for mobile money (MOMO) transfers in the name of ORC\/RGD or persons claiming to be Lawyers or Staff of the Office of the Registrar of Companies(ORC).\u00a0<\/p>\n

The ORC does not operate a mobile money number and any Company Official who pays out monies to these calls do so at their own risk.<\/p>\n

DISCLAIMER: <\/strong>The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.<\/p>\n

Tags: \u00a0<\/span><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

The Office of the Registrar of Companies (ORC) has announced that there will be an increase in the renewal fee for Business Names from \u023c25 to \u023c30\u00a0 and penalty fee for Companies and Partnerships in default from \u023c450\u00a0 to \u023c600\u00a0 effective 31st December, 2022. This increment in fees would apply to all Sole Proprietorships and […]<\/p>\n","protected":false},"author":1,"featured_media":1250423,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[72],"tags":[2009,1537,3416,1320,87,2914,2819],"class_list":["post-1250421","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","tag-business","tag-companies","tag-fees","tag-increases","tag-office","tag-penalty","tag-registrar"],"_links":{"self":[{"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/posts\/1250421","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/comments?post=1250421"}],"version-history":[{"count":0,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/posts\/1250421\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/media?parent=1250421"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/categories?post=1250421"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/tags?post=1250421"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}