How to register a business with CAC in Nigeria
The Corporate Affairs Commission (CAC) has made it easy to start a business through its online platform. An individual can now register a company with her CAC online, provided they understand the requirements of the incorporation process.
Before incorporating, it is important to check whether the proposed name to be chosen or reserved has not been registered by another person. Before booking, you can check if a company is registered in Nigeria through the CAC public search website.
Registering a company online with his CAC through an online platform requires several steps that must be strictly followed to achieve the desired result. The steps for company registration in Nigeria are briefly described below.
Name Reservation
The first big step in incorporating your online business with CAC is to apply for a name reservation online. This step is necessary as it helps put the proposed company name on hold for 60 days until the registration process is complete.
The steps in this section include:
Create a login to her CAC for first-time users or existing user logins. Then click “Reserve name”. Please fill in the necessary information and pay the fee. Then wait hours or days for approval or rejection by the committee. foundation
This is the most important step as success determines the foundation of the company. Here are the steps to follow in this section:
Complete all required columns of the online registration form. The information required for the form is:
- Company details, including the nature of the main business in which the company is involved. The registered address of the proposed company. Company email address. and a phone number.
- Amount of share capital Details of the first director (at least one person over the age of 18) – (name, date of birth, gender, phone number, email address, identification document – (ID card, permanent voter card, driver’s license or international license )passport). ), Percentage of shares held: (if the Managing Director is also a shareholder).
- Shareholder details (at least one) – (name, date of birth, gender, phone number, email address, form of identification – (identity card, permanent voter card, driver’s license or international passport), shareholder’s shares held in proportion). Percentage of shares distributed to shareholders.
- Company secretary details (company secretary is no longer mandatory for private companies) (name, date of birth, gender, phone number, email address, identification – (ID card, permanent voter card, driver’s license or international passport A statutory statement that the attorney has complied with her CAMA requirements. (Must be signed by a lawyer and notarized by a notary or oath officer) (name, date of birth, gender, phone number, email her address, nationality, form of identification – (ID card, permanent voter card, driver’s license or international passport).
- Memorandum and Articles of Incorporation – It is important to note that the CAC Portal has a Memorandum and Articles of Incorporation (MEMART) template that can be adopted by anyone registering a company. However, a new company whose articles of incorporation intend to include additional corporate governance information or prior agreements between shareholders and directors may seek the services of a lawyer or other professional to draft various articles of incorporation specifically for the company. You can create a draft.
INFORMATION FROM MEMART WITNESSES
Details of the person with significant control (PSC).
Signatures of directors, shareholders and witnesses.
Once the form is completed, applicants should proceed to pay the required fees. concrete
types of company registration in nigeria
Different types of company registrations can be made in Nigeria depending on the specific needs and goals of the company. Here are some common types.
1. Company name registration:
This is the simplest form of company registration and is suitable for small businesses owned by sole proprietors or partnerships.
2. LLC:
This is a common type of company registration in Nigeria. It offers limited liability protection to its shareholders and requires at least two directors and two shareholders.
3. Public Company (PLC):
A public company is a large company that can issue shares to the public and is usually listed on a stock exchange.
4. Unlimited Company:
Unlimited Company knows no limitation of liability to its partners. H. They are personally responsible for the company’s debts. 5. Limited Liability Company:
This type of company registration is often used by non-profit organizations, associations and clubs. A member’s liability is limited to the amount they are willing to pay in the event of dissolution.
5. Registration Trustees:
This type of registration is suitable for non-profit organizations, religious organizations and charitable organizations. It is important to consult a Nigerian attorney or the Corporate Affairs Commission (CAC) to ensure compliance with the specific requirements and regulations for each type of company registration.
