How To Register a Company in Nigeria With CAC
After publishing "
How
I Registered Business Name with CAC Nigeria for Less than N5000", I
keep receiving mails from some of my blog readers, asking me how they
can also register a company in Nigeria;
the cost and probably the
names of registered companies in Nigeria.
Though, have only been able to personally register a business name, and
not a company, I've been able to get some info on
how to register a
limited liability company (LLC) in Nigeria from an experienced
professional that works as a consultant to the Corporate Affairs
Commission (CAC).
While I can't guarantee you the list of registered company in Nigeria,
the info herein will keep you informed on what you need to know about
company
registration in Nigeria.
General Information for Company Registration in Nigeria
1. Approval of a Name begins the Registration Process.
Before you register a Company, you will need to make a choice between
two
(2) Proposed Names you plan or intend to register.
At this initial (first) stage, it is called
Availability of Name
Searches. The Approval Officer checks in the System Server (Content
Pinnacle Register) to find out if your proposed names have already been
registered or not.
When your proposed names have been registered by other person(s) -; both
your two names will be denied approval or rejected. If the officer
finds out that one or all of your two proposed names has not or are not
yet registered by other person(s), one name (usually the first choice
name) is thus approved and reserved for you to proceed with your
registration/incorporation.
Note: Names
of Limited companies in Nigeria are registered with ending suffixes
like ‘’
Limited’’ or ‘’
Ltd’’ or ‘’
Plc.’’. You can
read the full
guide
in choosing proposed Limited Company Name in Nigeria here.
2. After the approval of a name, registration/incorporation
process begins. at this stage, you will have to fill the requisite
incorporation documents and pay the necessary fees.
3. On completion of registration, you wait for a minimum of two
(2) weeks for your certificates and the Certified True Copy of Forms
(DEEDS) to be ready for your collection.
Guides on Requirements for Limited Companies Registration in Nigeria
Below are the Specific Requirements for company registration in
Nigeria as provided by Nigeria’s Company and Allied Matters Act of 1990.
i. Limited Companies can be registered by
2 people or even
up to 10 people.
ii. Each Director is called a
Shareholder of the
Company. The overall share capacities of the Company are shared/allotted
by the shareholders and each is given a number of shares.
Usually, if the overall share capacity is 1,000, 000 (1 million) shares,
then, the key promoter/person (shareholder) who is forming it (that is
to say, the owner(s) would take the highest number of shares like, 600,
000. Other 400,000 are shared by his or her partners, children, wife,
husband, friends, etc (other shareholders/directors).
iii. Note down at least
4 objectives/objects of your
proposed company. These are "what you are into" or what you would be
doing with the company after registration or what you have already been
doing and you now want to formalise it through registration.
For instance, if you are into Engineering, or Construction services, you
write your objects as these:
a) Building Engineering Services
b) Water Engineering Services
c) General Contracts …etc.
iv. Note down the Registered
Office Address of your
Proposed Company. (it begins with, NO. ..., PLOT ..., SUITE ...).
Corporate Affairs Commission (CAC)
does not accept vague address
like Akinsanya Road, Maisalaci Avenue, Enugu, Nigeria.
You must
specify the House Number, Plot Number or Suite Number.
(Note that if you don't have Office yet, you can also use your
Residential or Contact Address as your registered office/COMPANY
address.)
v. Provide the
Full Names (no initials in person’s
name),
Occupations,
Share Allotments/Capacity,
Specimen
Signatures and
Contact Addresses of the
Shareholders/Directors.
Example: If the total share capacity of the company is
1,000,000
and the share holders or directors are
3 in number, spread the
shares as in example, in this manner, while also indicating each of
their full names, occupation, signatures and contact addresses:
- Name of Shareholder or Director Ifesinachi Oderaa.
Occupation
Architect/Business Man/Farmer
Share Capacity
500,000
Specimen Signature .............
Contact
Address Plot this/No./Number this, Igando
Estate, Lekki,
Lagos. Lagos State, Nigeria.
- Name of Shareholder or Director Oladimeji Olugbenga
Occupation
Engineer/Consultant/Business Man
Share Capacity
250, 000
Specimen Signature …………
Contact
Address No. 5, Hotoro Street, Kano, Kano State, Nigeria
- Name of Shareholder/Director Musa Nurrudeen
Occupation:
Farmer/Business Man/Estate Manager
Share Capacity
250,000
Specimen Signature ……………
Contact
Address: Number 1, Okigwe Road, Owerri,
Imo State,
Nigeria.
Note as in the above that the Contact Addresses of all
Shareholders/Directors
must also begin with, Number….or NO. ...,
or PLOT ..., or SUITE ...).
VI. Each Director/Shareholder
must provide scanned copy or
scanned photocopy of his or her means of Identification: Choose one
from these three, which you have:
Any of Data Pages of National ID Card, International Passport or Drivers
Licence.
How Much Does it Cost to Register a Company in Nigeria?
To get the official registration fee for a company with CAC Nigeria, go
to
CAC
website and click on "
summary of fees and forms" on the
sidebar menu.
If you don't want to go through the cumbersome process and face some
"non-smiling" CAC clerks who just tell you, "
go and see a lawyer";
my experienced Professional,
Bar. Kasie, can get everything done
for you.
Limited Company Registration/Incorporation for
1, 000, 000
(1million) Share Capital is
#
70, 000 for both Government Fees and his Services Fee while
LLC Registration/Incorporation for
500, 000 (5hundred
thousand) Share Capital costs
# 60, 000 naira for both Government Official Fees
and his Services fee.
He has direct access to CAC Abuja, because his office is in Abuja. If he
handles the registration for you, you can pick up your certificate at
his office and he can also despatch to you through Courier Services like
Ifex, Chisco, Peace, Tradeways (in Nigeria) and DHL, UPS & FedEx
for outside Nigeria).
You can contact Bar. Kasie via:
Mobile: 08091921491.
BB: 21673ABE.
Whatsapp: 08095048689.
Address: B40 Ext. Efab, off Gimbiya St. Garki, Abuja.
Nigeria.
Whenever you contact him, let him know you got his info from my blog;
Ogbongeblog.
Now you might be wondering, should I just register my business name or
register my company? Well, I will write on this soon. If you do not want
to miss this,
SUBSCRIBE
here.
If you have contributions or questions to ask, kindly relay them via
comments.
