Readers ask: How To Register A Business In Nigeria?

How much does it cost to register a business 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.

How can I register my online business in Nigeria?

REGISTER YOUR BUSINESS ONLINE: COMPANY, BUSINESS NAME, INCORPORATED TRUSTEES

  1. Reserve name.
  2. Log in with your profile.
  3. Select ” REGISTRATION ”
  4. Select the classification that is ” BUSINESS NAME, or COMPANY, or INCORPORATED TRUSTEE”.
  5. Enter the availability serial code.
  6. Click on continue.

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.

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

How Much Is Business Name Registration In Nigeria? The cost of registering your business name is #10,000. There will be an additional fee of #500 for business name reservation.

Can I start a business without registering it?

It is entirely legal to operate as a sole proprietorship without registering your company. Keep in mind, however, that doing so does not provide you with any form of legal protection if you experience debt or face legal action.

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.

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.

How can I make money online?

How to Make Money Online: 28 Real Ways to Earn Money Online

  1. Start Dropshipping.
  2. Try Print on Demand.
  3. Make Money with Affiliate Marketing.
  4. Start a YouTube Channel.
  5. Become an Influencer.
  6. Create an Online Course.
  7. Publish an Ebook.
  8. Start a Blog.
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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.

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.

How do you hold a business name?

A business name reservation consists of a filing with the Secretary of State’s office to reserve a business name until you are ready to incorporate your business or form a Limited Liability Company. Generally, a name reservation will be effective and the name that you place on reserve will be on hold for 30-90 days.

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.

What are the requirements for CAC registration?

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.

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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