CAC business name registration process and fees

CAC business name registration process and fees

What is CAC business name registration? If you want to start a business in Nigeria, you will need to know every aspect of creating a business. Registering your business with the Corporate Affairs Commission(CAC) is a major step for any serious business owner in Nigeria.

CAC business name registration process and fees

How to register a company with CAC?

  1. It's needed to check the proposed company names in Nigeria. Do not forget that the name of your company is the face of your business. You can check the availability of company name here!
  2. You will need to reserve a name for your company. You can check the list for registration of business name at CAC here!
  3. You will need to fill in the pre-registration form. (CAC 1.1)
  4. It's necessary to pay Stamp Duty fees.
  5. You will need to pay the feeling Fee for CAC.

When everything is done – you will need to provide the following documents to CAC if you want to register your business name:

CAC business name registration process and fees

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  1. CAC 1.1 Form:
  2. CAC Payment check;
  3. Certificate of Stamp Duty;
  4. The form of identification for Directors of the company;
  5. Proficiency certificate;
  6. The Memorandum and Article of Association. (MEMART)
  7. You will need to download all scanned documents for processing here.
  8. You will need to submit all the documents mentioned in step 6 to the nearest CAC office in exchange for your Company Name.

How to register a Limited by Guarantee Company at CAC?

How to register a Limited by Guarantee Company at CAC?

You will need to check the name availability here;

  1. Reserve the name for your company;
  2. Fill the form for CAC.1;
  3. You will need to pay the appropriate Stamp Fees;
  4. Pay Corporate Affairs Fees.
  5. Scan the copies of the documents for registration, like MEMART, Director’s signature, CAC 1.1, company identification documents.
  6. You will need to upload the above-mentioned documents for the processing. You can upload them here.
  7. To complete CAC business name registration form – you will need to wait for the Approval of the Attorney General for your registration.

What do you need to reconvert the Private Company into Public?

What do you need to reconvert the Private Company into Public?

If you want to re-register the name of the company from the private to public and vice versa – you will need to follow the next steps to do that:

  • A signed resolution by at least two directors;
  • MEMART;
  • The written consent of directors in respect of share capital;
  • Balance shed for the last six months;
  • Evidence of payment capital up to the date of registration;
  • Filling fees;
  • Annual returns document;
  • Copy of prospectus delivered for the last year;
  • S.636 Evidence.

Re-registration of CAC business name registration form from Limited to Unlimited Company

Re-registration of CAC business name registration form from Limited to Unlimited Company

What do you need to change business names registration from Unlimited company to the company with limited shares?

  • The first thing to do is to create a special resolution where all members of the company agree to share the capital according to the limited shares.
  • It`s necessary to create a special memorandum with the altered resolution;
  • Articles of the company should also be altered;
  • You should provide the company balance spreadsheets for the last six months;
  • The company should provide a statutory resolution with signatures of two directors and a secretary;
  • It`s necessary to provide a copy of prospectus in lieu of the last 12 months;
  • Payment and feeling fees are to be provided upon the completion.

Change of Company name

Change of Company name

What if you don't want to change the structure of the company, but the company name? If you want to do this, then you will need to do the following:

  • Check the reservation and the availability of a new name;
  • Two directors should send the application to CAC business where they explain the necessity of changing the name;
  • Two directors should sign the resolution that they agree to change the name of the company;
  • Two directors should give back the documents and resolutions with the original name of the company;
  • It`s necessary to provide the filing fees;
  • The directors should provide a memorandum with a new company name;
  • If a company provides Banks and Financial services, then it`s necessary to provide S.636 Form.

Top 10 Fees for registration of the company

Top 10 Fees for registration of the company
  1. Name reservation – 500 Naira;
  2. Registration of a private company with a capital less than one million Naira – 10,000 Naira;
  3. Registration of a private company with a capital more than one million Naira – 7,500 Naira for every million;
  4. Registration of a public company with shares above 500 million Naira – 5,000 Naira for every million;
  5. Registration fees for the public company – 10,000 for every million Naira;
  6. Registration fees for the private company – 15,000 for every million;
  7. Registration of business name – 10,000 Naira;
  8. Change the business name – 5,000 Naira;
  9. Filling fees – from 2,000 up to 10,000 Naira;
  10. Certificated true copy of business name – 5,000 Naira.
Conclusion

If you want to look for the whole list of CAC business name registration fee, then you will need to follow this link. There are hundreds of different fees for changing and registering companies in Nigeria.

Conclusion

Do not forget that all registered companies are protected by law, but they also abide the law. Therefore, it's necessary to provide all necessary documentation upon registering your company.

READ ALSO: Most thriving businesses in Nigeria in 2018

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Source: Naija.ng

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