You have gotten to the point in your business where you finally decided to register your own company or business name. You Googled and landed on this website where a stranger is about to teach you the procedures you should take in registering a company in Nigeria.
Well, before we go heads-on and find out the steps necessary to get your company registered in Nigeria, let's firstly talk about CAC (the body in charge of business registrations in Nigeria)
CAC Little History
This body was brought into existence under the initiation of the Companies and Allied Matters Act (CAMA), in the year 1990. The commission is well placed and is responsible for the regulation and surveillance of the formation, incorporation, registration, and management of Companies, both corporate and incorporate companies. The Commission has its Headquarters established in Abuja and with well-equipped branch 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.
- But talking about today's theme. Do you know the various types of companies one can register? If "NO" its very important for you to know them and here's the list below.
Registrable Companies Types with CAC
- Private Company limited by shares
- Private Unlimited Company
- 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.
Back to the discussion on the desk. How to register a company in Nigeria?
Things to Consider While Registering a Company in Nigeria with CAC
The first thing to do is for you to have a blueprint for your business. I believe before you go shopping, you have a list of what you want to buy while you get there.
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.
- Step-by-Step To Registering Your Company Yourself
Walk into a CAC branch close to you and make a demand for name reservation which will cost you a token. After which you've paid a form together with a receipt will be handed over to you, the form is meant to be filled and returned back to them. You will be coming across the below information to be filled
(1) Your Surname and Name
(2) Your Address
(3) Your Desired Business Name
(4) Your e-mail Address / Mobile Number
(5) A free space for filling information about the desired business to be registered
You right for two business name proposal in case one is taken then the second name can serve. But if none is available, then you retake the procedures all over again. That's the reason its advised that you think well for a Business Name in order not to be frustrated during the course of registration. But to bypass that you can conduct a name availability check through this link: publicsearch.cac.gov.ng/ComSearch.
After you've filled the required information you will have two get back to the office after two weeks for the result of your Business Name Reservation. As you wait for the release of your result, you need to get some necessary things ready. And these documents include:
- Memorandum and Articles of Association, particulars, and statement of compliance by a legal practitioner.
As well with
- Two (2) passport photograph of you and your partner (shareholders), residential address, email address, occupation, and mobile number.
- You will have to present a valid means of identification yourself.
All that is required of is to deposit to the branch offices for final clearance, the commission will certify you after going through the uploaded documents after which all is done and settle then you can pick up the certificate and validated documents from the CAC branch offices which you visited.
In all this, it is very important that you get your Company registered with the government to avoid some sort of embarrassment. Do you know what happens when your client sees that you Company is registered? It tends to build up trust and confidence. I urge you to think about this, and also about the results when it is done and when not done.
If this post has enlightened you, don't hesitate to share this article and guide on how to register your company in Nigeria with your social circle. Someone somewhere might be in need of it. Enjoy the surf as you go through other interesting articles on this blog.