this is a company having the liability of its members limited by the memorandum to such amount as the members may respectively thereby undertake to contribute to the assets of the company in the event of its being wound up. Used where the company is being formed for the purpose pof promoting commerce, sport, religion, charity etc and the income of the property is to be transferred for the promotion of its object only. Registration Fees = N1,000,000.00
Large Company (companies with N1,000,000 and above share capital) = N70,000 + N15,000 on every additional N1,000,000 share capital. (E.g a company with a N2,000,000 share capital will pay N70,000 + N15,000 = N85,000.