How To Register A Company In Nigeria With CAC: 10 Easy Steps
Do you have a company,or business name that you will like to register? Or are you planning to open your own company?
If yes is your answer then you should consider registering your company with the CAC (Corporate Affairs Commission).
This post will show you how you can easily register your company (Private or Public) in Nigeria with ease,registering
--your company adds more credibility to your business profile and provides legal backing.
You can also now register your company online.
How To Register A Company In Nigeria With CAC
What is the CAC & It's functions?
The Corporate Affairs Commission (CAC) of Nigeria is the organization that was saddled with the responsibility of registering all companies in Nigeria.
The CAC was established by the Companies and Allied matters act, which was promulgated in 1990 to regulate the formation and management of Companies in Nigeria.
10 Quick Steps To Registering Your Own Company In Nigeria
1. Getting A Company Name
Before you set out to register your company,you should first of all choose a suitable name for your company,i will recommend that you choose two or three names.
--After which The chosen name will then be submitted to CAC to run an availability search. Make sure that you submit at least two names.
Also note that your chosen company name will be rejected if they already exist in the system or if you include words such as "National, Federal, Government or Holdings" without official backing or permission.
The process can take up to a week or you can save yourself the stress of waiting for a long time and check for the availability of your proposed company name by logging into www.publicsearch.cac.gov.ng with an internet enable device.
2. Reserve A New Name
After searching for the availability of your proposed company name and it's available,you can go ahead and reserve the name by logging into www.services.cac.gov.ng/login with an internet enable device.
3. Memorandum And Article of Association (MEMART)
The next step is the Preparation of Memorandum and Articles of Association which should be best handled by a lawyer,your lawyer will prepare the documents based on the type and objectives of the Company you want to register.
The names of the first directors and shareholders will be provided to the legal practitioner,the directors must be above the age of 18, be of sound mind and must not have been convicted of any crime whatsoever.
A means of identification of the directors will be required by the CAC for inspection.
4. Filling Of The Incorporation Forms
You will be required to fill a form from CAC which is to be submitted back to CAC alongside the MEMART.
--The following is applicable during the form filling process:
One director fills the Statement of Share Capital and Return of Allotment form (Form CAC 2).
One director and the Company Secretary will fill the Notice of Situation/Change of Registered Address form (Form CAC 3).
All directors must fill the Particulars of Director form (Form CAC 7).
An individual or firm accredited by CAC will fill the Declaration of Compliance with the Requirements of CAMA form (Form CAC 4).
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At least two directors will fill the form appointing a Company Secretary for the company.
5. Stamp Duty
After the purchase of the incorporation forms and filling of same together with the preparation of the memorandum and article of association, the next step is the payment of stamp duty at the Federal Inland Revenue Services.
--After making payment for the stamp duty at a designated account of the Federal Inland Revenue Service,proceed to the Stamp Duty Commission where the memorandum and article of association with other incorporation forms and documents will be stamped.
After being stamped the filled forms and accompanying stamped original documents should be submitted to CAC.
Read Also: CAC Registration Fees In Nigeria