FAQ: How To Register A Company In Nigeria?

How much does it cost to register a company in Nigeria?

Fees

Different Nigeria entity types Cost Draft invoice
Tax resident LLC US$20,000 View invoice PDF
PLC US$21,403 View invoice PDF
LLC (oil & gas services) US$44,950 View invoice PDF
Representative office US$20,400 View invoice PDF

How much does it cost to register a company in Nigeria 2021?

How Much Does it Cost to Register a Business Name in Nigeria? Registration of a private company with a share capital of more than N1m and up to N500m costs N5,000 for every 1m shares of the company. Private company registration above N500m authorized share capital costs N7,500 for every 1m shares of the company.

What are the requirements for CAC registration?

Registration Form CAC 1.1. Identification of Directors and Shareholders. Payment Receipt of CAC. Stamp Duty Certificate (This is to be printed, once the stamp duty fee is paid).

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How long does it take to register a company with CAC?

The Corporate Affairs Commission ( CAC ) has announced the commitment of the commission to register companies within 48 hours, approve names same day and ensure 5-day completion for other post-incorporation services not available electronically.

What’s the difference between registering a company and business name in Nigeria?

DIFFERENCE BETWEEN A BUSINESS NAME AND COMPANY REGISTRATION A business name can be formed by one or more persons i.e. sole proprietorship or partnership while a company needs a minimum of two persons as members as well as directors to be registered.

What is the fees for company registration?

The registration fee for organization’s whose nominal share capital is limited to Rs. 10,00,000 – Rs 2,000. The registration fee for organization’s whose nominal share capital ranges between Rs 10,00,000 to Rs 50,00,000 – Rs 2000.

How long does it take to register a business name in Nigeria?

The entire process for registering a business name normally takes 1-2 weeks, depending on the workload of the CAC and other factors. You do not need a lawyer to register a business name, however, if you want to register a company, you need the services of a lawyer or other accredited agent.

How much is CAC registration 2021?

According to the Companies Regulations 2021, the filing fees for the Statement are N5,000.00 and N10,000.00 for private and public companies, respectively.

Is CAC registration free?

The Federal Government has approved all self-employed and business owners to carry out their Corporate Affairs Commission ( CAC ) registration online free of charge.

Do all companies need to be registered?

All limited companies must register with Companies House, who will make the company information publicly available on their website. This means companies must provide the details of who their shareholders and directors are, as well as file a copy of their annual financial accounts.

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What are the benefits of registering a business name?

ADVANTAGES OF BUSINESS NAME

  • Business name requires little capital.
  • Business name is easy to register.
  • Business name requires less formalities.
  • A sole person can register a Business name.
  • Profit of the business is solely owned by the owner.
  • Tax liability in Business name is minimal.

How many days does it take to get CAC certificate?

REVISED SERVICE TIMELINES FOR THE PERIOD OF COVID-19 REGISTRATION

S/No. Service Timeline
3. Certified True Copy of Certificates 5 Working Days
4. Filing and CTC of CAC 2A, 2.1, 3, 7A & Miscellaneous 5 Working Days
5. Search Report 5 Working Days
6. Letter of Good Standing 5 Working Days

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How long does it take to get CAC certificate after registration?

While issuing TIN and certificate of incorporation together seem link a no-brainer, it would indeed streamline the process of setting up a company. Before now, business owners wait for two weeks after registering their company with the CAC to receive their TIN from the FIRS.

How long does CAC name reservation last?

Once a name is available, it is then reserved for a period as the CAC thinks fit, though for a period not exceeding 60 days as contained in section 32 of CAMA.

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