Readers ask: How Much Does It Cost To Register A Company In Nigeria?

How much does it cost to register a company in Nigeria 2020?

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.

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 much is CAC business registration 2021?

Full Cost of CAC Registration Fees

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Type of CAC fees Fees in Naira(N)
Search on business name file 1000
Certified true copy of business name certificate registration 5000
Registration of private company with Share Capital above N1million to N500million N5,000 for every N1million share capital

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What does it take to register a company in Nigeria?

Documents Required for Company Registration

  • A notice of the registered address of your business.
  • Memorandum and Articles of Association (MAA)
  • Receipt of payment of your stamp duties.
  • Particulars, list, and consent of the first directors of your company.
  • Statement of compliance by a legal practitioner.

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.

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.

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.

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.
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How do I register for CAC?

Registration steps for Business Names

  1. Check for availability of the Business Name (click here.
  2. Complete pre- registration form – CAC -BNo1 and upload relevant registration documents(Online using Company Registration Portal)
  3. Pay filing fee Check the Fees for our Services here.

Can I register my business with CAC online?

An individual can now register a company online with CAC, with little or no help from anyone, except for Section E in the Registration Form CAC 1.1, which requires the signature of a Legal Practitioner and attestation by a Notary Public or Commissioner for Oaths.

How do I register a business name in Nigeria 2021?

HOW TO REGISTER A BUSINESS NAME IN NIGERIA ( 2021 )

  1. STEP 1: CHOOSE A NAME FOR YOUR BUSINESS.
  2. STEP 2: TAKE A TRIP TO THE NEAREST CORPORATE AFFAIRS COMMISSION(CAC) OFFICE.
  3. STEP 3: TAKE ANOTHER TRIP TO THE CORPORATE AFFAIRS COMMISSION OFFICE.
  4. STEP 4: COLLECTING YOUR BUSSINESS NAME CERTIFICATE OF REGISTRATION.

How do I know if my business name is on the CAC?

Check Business Name / Company Registration in Nigeria Online via CAC Website

  1. To search for a company or business name, visit the Corporate Affairs Commission ( CAC ) website.
  2. You will be presented with a form to type the name of the company / business you want to search for (as illustrated below).

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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Can a foreigner be a director in a Nigerian company?

The answer to this question is Yes. The Nigerian governing law for company registration or business formation is the Companies and Allied Matters Act (CAMA) LFN 2004. The law also does not preclude a foreigner from being a director in a Nigerian company.

How long 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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