How to Register your Company/Business in Nigeria with CAC

Last Updated on July 1, 2024 by admin

Starting a business in Nigeria involves registering with the Corporate Affairs Commission (CAC), the regulatory body responsible for the incorporation and regulation of companies.

Understanding the process of company registration is crucial for entrepreneurs and business owners looking to establish a legal entity in Nigeria.

This article provides a comprehensive guide on how to register your company or business with CAC, outlining the necessary steps, documents required, business structures to consider, fees involved, compliance obligations, and post-registration procedures.

Registering your company or business in Nigeria is an essential step towards establishing a legal entity and conducting business operations in the country. The Corporate Affairs Commission (CAC) is the government agency responsible for regulating the registration and management of companies and businesses in Nigeria. In this essay, we will outline the step-by-step process on how to register your company or business with CAC in Nigeria.

To begin the registration process, you will need to have a unique business name that has not been previously registered by another entity. You will also need to provide details about your business structure, such as whether it is a sole proprietorship, partnership, or a limited liability company. Additionally, you will need to have a physical office address in Nigeria where your business will be located.

Business Name Search

The first step in registering your company in Nigeria is to conduct a name availability search with the CAC. This is to ensure that the proposed name of the company is unique and not already in use by another entity. The name search can be done online through the CAC portal or in person at any of the CAC offices nationwide

After obtaining a name availability search result confirming the availability of the proposed name, the next step is to complete the pre-registration form on the CAC portal. The form requires information such as the company’s name, nature of business, registered address, details of directors and shareholders, and share capital structure.

Once the pre-registration form is completed, the next step is to pay the requisite registration fees. The fees vary depending on the type of company being registered and its share capital structure. Payment can be made online through the CAC portal or at designated banks authorized to collect CAC fees.

After payment of registration fees, the next step is to prepare the necessary documents for submission to the CAC. These documents include the completed pre-registration form, memorandum and articles of association, proof of payment of registration fees, and forms of identification for directors and shareholders.

Once all the required documents are prepared, they can be submitted to the nearest CAC office for processing. The CAC will review the documents and if everything is in order, issue a Certificate of Incorporation and a Certified True Copy of the Memorandum and Articles of Association to the company.

Upon receiving the Certificate of Incorporation, the company can then proceed to register for tax purposes with the Federal Inland Revenue Service (FIRS) and the Value Added Tax (VAT) registration with the Federal Tax Authority (FTA).

Additionally, the company may also need to register with other regulatory bodies such as the Nigerian Investment Promotion Commission (NIPC) for foreign-owned companies, the National Agency for Food and Drug Administration and Control (NAFDAC) for companies in the pharmaceutical and food products industry, and the Central Bank of Nigeria (CBN) for financial institutions.

Here’s a breakdown of the general process for registering your business in Nigeria with the Corporate Affairs Commission (CAC).

1. Choose a Business Structure

• Sole Proprietorship: Simplest form, owned and run by a single individual.
• Partnership: Two or more individuals coming together.
• Private Limited Company (Ltd): Separate legal entity from its owners, offers limited liability. This is the most common for established businesses.
• Public Limited Company (Plc): Can offer shares to the public, must meet stricter regulations
• .

How to register for business name.

2.Reserve a Business Name

• Visit the CAC portal to search for available business names.  (click here)
• Submit two potential names for your business.
• Pay the name reservation fee.

3. Prepare Incorporation Documents

1. Complete pre-registration form – CAC-BNo1 and upload relevant registration documents(Online using Company Registration Portal)

4. Filing and Payment

• Create an account on the CAC registration portal. COMPANY REGISTRATION PORTAL (CRP)
• Upload all the required documents.
• Pay the filing fees, which depend on your business structure and share capital.
• Submit your application.
• Pay filing fee  Check the Fees for our Services here
• with electronic Certificate of Registration and Certified Extract of registration information

5. Collect Your Certificate

• If your application is approved, you’ll receive a notification from the CAC.
• Collect your Certificate of Incorporation and other relevant documents.

You can also read : Difference Between company Shares and Debentures

You can check out for price lists of various business and company registration in Nigeria with orporate Affairs Commission (CAC)

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