How to register a company in Nigeria is actually one of the problems most business owners encounter. Ideally, business owners all over the world are always on the quest of getting their businesses to a greater height and apparently, registering it is one of the top-notch steps in boosting your business.
Meanwhile, most people (Business owners to be precise or intending entrepreneurs) don’t know what or perhaps how beneficial this works. However, how to register a company in Nigeria is the wish and prayer of professional company owners and entrepreneurs in Nigeria.
More to this, you can operate your business and company in a grand style without any hassle and government problems. People who operate unregistered businesses have so many limitations towards almost all their business execution plans.
Having said all these, I’d start by letting you know the various steps needed in registering your company in Nigeria. But before we commence officially, let’s talk about the history of the Corporate Affairs Commission (CAC).
Short And Precise History About CAC
In the year 1990, CAC (Corporate Affairs Commission) came to existence through the initiation of the Companies and Allied Matters Act (CAMA). The Corporate Affairs Commission are responsible for the great regulation and surveillance of the formation, registration, incorporation, and management of Companies, for both corporate and incorporate companies.
Also, The Corporate Affairs Commission has its headquarters situated in Abuja. In addition to this, they have several and numerous researched and well-equipped branches and offices all over the state. They offer a lot of services, so feel free to pay them a visit any time you come up with a business concept.
Having known all these, did you know that you can’t just register any business or company? Yeah! there are several types of companies which are registrable.
For more clarity, I’d like to write on the registrable companies you can register.
Registrable Companies Types with CAC
How To Register a Company in Nigeria Just as said previously, there are numerous registrable types of companies and they are listed below on this very section;
- Private Unlimited Company
- Private Company limited by shares
- Public Company limited by shares
- Public Unlimited Company
And the membership for each of these companies has their own number of permitted members. It is as well, highly prohibited for you to use a similar name with an already registered company except if the company is about to shut down.
Things to Consider While Registering a Company in Nigeria with CAC
When we talk about the various things you should consider while registering your company in Nigeria and in a nutshell, we’ll be highlighting them on this very content section.
Meanwhile, the first thing to consider towards registering your company is to have a blueprint for your business. Added to this, you can’t possibly get the best out of it when you don’t have cogent and strategical plans.
More to this, it is almost impossible for you to go shopping without preparing the list of what you wanted to go for. So to crown it all, It is very wise for you to have a blueprint for your business.
After that, the next thing to do is to research on the needed financial strength for your business. Ask people that are experienced in that and have a running company on how and what was invested. Then from there, you can build more on what you need for your own company.
But if the reverse is the case, simply saying that, if you have an existing company you can skip the aforementioned procedures and go straight to the registration procedures.
After you’ve gone through the above procedures and now you’re fully assured and ready for the deal and the registration of your company follow the step by step procedures for getting your company registered.
There are two ways by which you can get this done. One of the ways is getting registered through the help of a lawyer and the second method is self-registration (doing the whole process yourself). But I will emphasize on the self-registration.
How To Register Your Company Yourself
Have it in mind that when talking about registering your company your self, you will have to walk down to the CAC branch which is close to you and simply make your respective demand for the name reservation. Know it also that you will have to pay little money, after which a form together with a receipt will be handed over to you. You will have to fill in the form respectively with the format below.
(1) Fill in your Name and Surname
(2) Fill in your Address
(3) Fill In your Desired Business Name
(4) Your e-mail Address / Mobile Number
(5) Note that there is A free space for filling information about the desired business to be registered.
It is important we bring it to your notice that you are free to register two business name proposals in case one is taken then the second name can serve. That is why you really need to think well before thinking of going for a name for your company. You can check for names that are said to be available via this link: publicsearch.cac.gov.ng/ComSearch.
Now, after you must have filled the required information, you will now have to go back to the office after two weeks for the result of your Business Name Reservation. While waiting for the result, please make sure you get the necessary Document ready which includes!
1: It is memorandum and Articles of Association, You also have particulars, and statement of compliance by a legal practitioner.
And also on How To Register a Company in Nigeria,
2: You will require Two 2 passport photographs of you and your partner (shareholders), a residential address, and email address, and occupation, and a mobile number. Also, have it in mind that you will have to present a valid means of identification yourself.
Having completed the above-required details which need to be submitted to the branch offices for final clearance, Hence the commission will have to certify you after he must have gone through the uploaded documents. Now after everything must have been done and dusted, you can now freely pick up the certificate and validated documents from the CAC branch offices which you Have visited.
With the above article, we are glad we have been able to lecture you on How To Register a Company in Nigeria without any form of stress. Do you have any questionss? make it known to us via the comment box below.
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