Company Registration in Nigeria / Business Registration : All You Need To Know
Do you want to register your company and you don’t know how to go about it or probably, you had been told that company registration in Nigeria is difficult right ? –
If you answer yes to that. Then, this article on company registration on in Nigerian had been written specifically for you as a guide on how to register company in Nigeria. After going through this, am sure you will know how to register your business ( Name ) easily.
Companies are been registered in the Corporate Affairs Commission ( CAC ). Let take a brief look at CAC before moving further.
CORPORATE AFFAIRS COMMISSION ( CAC )
The Corporate Affairs Commission is a Federal Government of Nigeria body responsible for regulating the formation and management of companies in Nigeria. This autonomous body was established in 1990 as a product of the Companies and Allied Matters Decree no 1 ( CAMD ) 1990 as amended. CAC carries out it designated role through accredited members of the Nigerian Bar Association ( NBA ), Institute of Chartered Secretaries and Administrators of Nigeria ( ICSAN ), Association of National Accountants of Nigeria and the Institute of Chartered Accountants of Nigeria. A Registrar-General is the head of this Commission.
REQUIREMENTS AND COST OF REGISTERING A COMPANY IN NIGERIA :
- To register a limited liability company, 2 persons are required and this number can go up, depending on the number of shareholders. Each shareholders name is noted with his amount of shares.
- The aims and objectives of your proposed company.
- The absolute address of the proposed company.
- The full names of the shareholders and Directors including their shares, occupation, contact address and signatures.
- A scanned copy of a means of Identification of the shareholders and Directors. This could either be National Identity card, international Passport or Driver’s License.
The cost of registering a company differs from company to company. It depends on several factors, so writing all this in a single article would lead to distractions and besides, this can be changed anytime so it is best to check it on the CAC website new.cac.gov.ng/home/summary-of-fees-and-forms/ alternative. logon to http://new.cac.gov.ng/home/ and lookout for FEES AND FORMS and click it to view how much it will cost you to register a company.
STEPS TO REGISTERING A COMPANY IN NIGERIA
- The first step is deciding the name of the company. You would be required to submit 2 proposed names to CAC while it would then choose the best based on availability. After deciding on the name, go to the closest CAC office.
- The approval office will then carry out a Name Availability Search to see if your proposed company / business name had not been previously registered by someone else. If both had been registered, you would then be required to submit another set of names. If only one is registered, the other option would be used for registration. In the case where both names had not been registered, the first one would be used.
- After the Name reservation, the step is the registration (incorporation) of the company. This is done by correctly filling the requisite incorporation documents and paying the required fees.
- Your certificates and the Certified True Copy of Forms (DEEDS) should be ready for collection (minimum of 2 weeks) after completing the registration.
Follow the steps above any business registration in Nigeria or Company registration in Nigeria and you wouldn’t have problem. Share your thought and suggestions with us through the comment box and like us on facebook.com/9jaquest or follow us on twitter.com/naijaquest
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tags: registering a company in Nigeria , Business Name registration in Nigeria How To register a company Nigeria