How much does it cost to register a company in Nigeria?
The Corporate Affairs Commission (CAC) is in charge of regulating the formation and management of companies in Nigeria. Every company in the country (public and private) is to be duly registered with the CAC. Find out how much it will cost to register a company in Nigeria. Read more
: https://www.legit.ng/1164691-how-cost-register-a-company-nigeria.html
The Corporate Affairs Commission (CAC) is the government agency in charge of registering companies and businesses in Nigeria. They also regulate the activities of the companies and businesses by their constitution.
The cost of registering a company in Nigeria depends on the type of company. The cost of registering a private company is different from the cost of registering a public company. Also, the cost of registration for companies with share capital varies depending on the worth of the share capital of the business.
Corporate Affairs Commission registration fees •The fee of reserving the name of your company – 500 Naira.
•Fee for registering a private company that has a share capital of less than or equal to 1 million Naira – 10,000 Naira.
•Fee for registering a private company that has a share capital of more than 1 million Naira and up to 500 million Naira – 5,000 Naira for every 1 million Naira share capital or part of it.
• Fee for registering a private company that has a share capital above 500 million Naira – 7,500 Naira for each 1 million Naira share capital or part of a million.
• Fee for registering a public company that has a share capital worth 1 Million Naira or less – 20,000 Naira.
• Fee for registering a public company that has a share capital worth more than 1 million Naira and up to 500 million Naira – 10,000 Naira for each 1 million Naira share capital or part of a million.
• Fee for registering a Public Company that has a share capital of more than 500 million Naira – 15,000 Naira for each 1 million Naira share capital or part of a million.
• Fee for registering a company that does not have a share capital – 20,000 Naira.
• Fee for filing of a notice of exemption of a foreign company from registration – 30,000 Naira. • Fee for reinstatement or relisting a company’s name – 25,000 Naira.
• 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.
These are just the CAC registration fees that apply to registering a company. There are other service charge or fees by the Corporate Affairs Commission such as change of company’s name/address, registration or change of business name, registration/filling of Incorporated Trustee, penalties, etc. You can find a complete list of all CAC registration fees and other transaction charges here. Read more: https://www.legit.ng/1164691-how-cost-register-a-company-nigeria.html
1. The first thing before you register your company is to check if the name you have proposed for your company is available, i.e., has not been used by another company. You can visit this link to check.
2. The next thing is to reserve the name you have chosen if it is available.
3. After reserving a name, you will need to complete a pre-registration form, the CAC1.1 form online via Corporate Affairs Commission company registration portal.
4. Next, pay the filing fee to Corporate Affairs Commission.
5. Pay the stamp duty fee to Federal Inland Revenue Service (FIRS).
6. Note you can complete steps 4 and 5 also on the CAC company registration portal.
7. Prepare a signed, scanned copy of the pre-registration documents. These documents include:
• The CAC1.1 form
• Memorandum and Article of Association (MEMART)
• Certificate of proficiency where it is applicable
• A recognition form for director(s), secretary and subscriber(s)
• Payment evidence to Corporate Affairs Commission.
8. Upload all the signed, scanned documents for processing.
9. You are to submit all the original copies of the document you uploaded to the Corporate Affairs Commission office of your choice to obtain your certificate of registration and certified true copies of other documents.
Corporate Affairs Commission has offices in each state which you can find here. To register your company or make more inquiries about the Corporate Affairs Commission, visit their nearest office in your state or visit their website at http://new.cac.gov.ng. Read more: https://www.legit.ng/1164691-how-cost-register-a-company-nigeria.html
Originally Published viaThe Gazette Nigeria
