Often asked: How To Register A Limited Company In Nigeria?

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

Fee for registering charges for a private company – 10,000 Naira for each 1 million Naira or part of a million. Fee for registering charges for a public company – 20,000 Naira for each 1 Million Naira or part of 1 million.

What are the requirements to register a limited company in Nigeria?

Requirements to register a limited liability company The objectives and business of the company must be provided. The registered principal address of the company. The share capital and shareholding formula among shareholders will be required. The particulars of a minimum of two (2) Directors will be required.

What documents do I need to register a limited company?

The Documents Required To Form A Limited Company

  1. Most Tasks Can Be Done Online. The online portal with Companies House can allow you to change everything from your registered office address to the company directors.
  2. Memorandum of Association.
  3. Articles of Association.
  4. Form IN01.
  5. Additional Statement.
  6. Conclusion.
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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).

How much does it cost to register a Ltd company?

It costs £12 and can be paid by debit or credit card or Paypal account. Your company is usually registered within 24 hours. If you do not want to use ‘limited’ in your company name you must register by post.

Can one person be a limited company?

In the UK, you only require one person to form a limited company. Whilst the application requests details of at least one member and one director, it is commonplace for the same individual to hold both of these positions. This means that you can set up a limited company on your own.

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.

How do I start a Ltd company?

Set up a limited company: step by step

  1. 1 Check if setting up a limited company is right for you Show.
  2. Step 2 Choose a name Show.
  3. Step 3 Choose directors and a company secretary Show.
  4. Step 4 Decide who the shareholders or guarantors are Show.
  5. Step 5 Prepare documents agreeing how to run your company Show.
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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.

How much tax do limited companies pay?

The current rate of Corporation Tax for limited companies is 19% and you pay that on your total profits (minus allowable business expenses). Limited companies do not have to pay income tax or national insurance. Therefore, the amount of tax a limited company pays will depend on their profit in the tax year.

What are the disadvantages of a private limited company?

One of the main disadvantages of a Private Limited Company is that it restricts the transfer ability of shares by its articles. In a Private Limited Company the number of shareholders in any case cannot exceed 50. Another disadvantage of Private Limited Company is that it cannot issue prospectus to public.

What documents do you need to start a company?

Here are 10 must -have legal documents you need to start a new business.

  • Business Plan.
  • DBA.
  • Partnership Agreement.
  • Incorporation Documents.
  • LLC Articles of Organization.
  • Foreign Qualification.
  • Apostille.
  • Business Licenses and Permits.

Is CAC doing free registration?

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

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.

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How do I register for CAC online?

  1. Navigate to services. cac.gov.ng.
  2. Create your Account.
  3. Login to your Account.
  4. Conduct Availability Search.
  5. Register your Business Online.
  6. Download Stamp Document.

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