18/05/2021
STEP BY-STEP-GUIDE TO GET YOUR BUSINESS REGISTERED IN NIGERIA
Corporate Affairs Commission (CAC), and their official website is w ww . cac. gov . ng
There are Three different categories of entities for registration; Business Name; Company and Incorporated Trustees (Every other categories are captured under these three).
A Business Name means the name and style under which a business is carried on. A Business Name may be a Sole Proprietorship or a Partnership. It is a Sole Proprietorship if it is carried on by an Individual or a Corporate Body solely. It is a Partnership if it is carried on by two or more Individuals or Corporate Bodies or a combination of Individuals and Corporate Bodies. A Business Name does not enjoy legal personality. It is not separate from the proprietor or partners for the purpose of liability. The liability of the proprietor or partners in a Business Name is not limited.
A Company is a business arrangement which enjoys legal personality. It is a corporate body and separate from its members (owners). The liabilities of members (owners) of a Company may be limited by shares or guarantee or may be unlimited. A Company may be public or private. The name of a Company must end with the word “Limited” or “Limited by Guarantee” or “Unlimited” or their abbreviations (“Ltd or PLC” or “Unltd” or “Ltd/Gte”)
An Incorporated Trustees is the registered trustees of a Not-for-Profit Association. The objects of the Association must be religious, educational, literary, scientific, social, developmental, cultural, sporting or charitable. The Trustees are the legal representatives of the Association and can acquire property, sue and be sued in the name of the Association. The Trustees are subject to the directions of the Association and its Governing Council (if any).
So basically, Business Name and Company are most acceptable certifications for TEF.
To begin your registration process, you need to do general public name search (search. cac. gov. ng/list), to ascertain whether your proposed name is already taken by someone else or there is any name similar to yours (Such will not be approved by CAC).
If there is exact or similar name, what you have to do is to think of another unique name or add more terms before and/after your proposed name. For instance, if your proposed business name is Infinix Mobile, and it is already taken when you do your public serarch, you can make your own MyInfinix Gadget, Love Infinix and Mobile Enterprise, Infinixity and Gadgets etc.
When you are certified, Next is to Create Profile on CAC Website (pre. cac. gov. ng /register/new) as a Presenter.
You will be required to supply your personal details;
Full name: (Surname, Other Names)
Date of birth: (DD/MM/YY)
Email:
Phone number:
Username and Password (Always remember / Write down so you don’t forget)
Occupation
Home address (with house number):
State of origin:
Local government of Origin:
Type of Valid ID Card: (Int’l Passport, National ID, Driver’s License, Permanent Voter’s Card, Birth Certificate)
I'd card Number:
After submission, a link will be sent to your email for confirmation. Check your email and click on the link for confirmation. Then you will be prompted to login with your username and password you created earlier.
Next after you login (pre. cac. gov. ng /login) is to register for name search. This costs Five Hundred Naira (N500) excluding charges.
Click on Name Reservation – New Name Reservation
Select the Company Type (Business Name/Company
Select the Specific (Sole Proprietor, Partnership, Limited By Share, Limited By Guarantee etc.)
Input Two proposed names separately in the option boxes (One will be approved out of the two). Save and Continue.
Select Reason for Availability Search (New Incorporation)
Select Nature of Business Category (e.g. Education)
Select Specific Nature of Business (i.e. Educational Services and Consultancy)
You can leave additional Remarks empty or you input brief of your business nature.
Save and Continue to see the preview. If okay, save and continue to payment page.
You will be prompted to make N500 payment through remita (N661.25 with charges)
Submit and input your Card Details (Mastercard) to make payment.
After successful payment, you will be redirected to your CAC portal where you will see details of your payment. And from then, you wait till you get approval/disapproval message in your mail from CAC.
Please note that approval now takes up to a week or more (used to be less than 24 hours).
If you get disapproved, you have to present another names and follow the process as listed above.
If you are approved, next is to proceed to Business Registration Stage.
Login to your page, click on the approval Note and you will see your approval details
You can copy the Approval Code, click on Registration – New Registration and input the approval code, you will be directed automatically to the business registration page
Or
Click on Approved Name and Click on Business Registration to proceed with registration proper.
Input the business commencement Date (Not earlier than a month)
Input your business Address and other details similar to what you earlier submitted.
Further Details required for Enterprise;
Let your Business Nature be precise and clear
Input Company Address (With Building Number):
State:
Local Government:
Upload Scanned Copy of;
Signature
Passport photograph
Copy of I'd card
Supply similar details if you have partners
Proceed to Payment Page and pay the sum pf N10,000 (Excluding Charges)
Required information for Limited Liability Company;
Full names of partners:
Date of birth of Each Partners:
Partners’ Email:
Phone number:
Occupation
Home address:
State of origin:
Local government:
Type of Valid ID card:
I'd card Number:
Company Address:
State:
Local Government:
Share Capital:
Type of Share of each partners
Scanned Copy of;
Signatures of partners
Passport photographs
Copy of I'd cards
Unit of shares holds by each partners
Company secretary, with same details above
MOU and Article (if you do not have, the system will auto generate one for you)
Proceed to payment page where you pay N15,500, and N8,000 for Stamp Duty (Varies by share company capital; Excluding charges).
After payment, you will be redirected to your portal, and then you wait till you get notice of approval/disapproval from your registered mail.
Please Note, Do not choose additional certificate copy as this will attract extra charge (The basic payment covers for your certificate)
Also, it is advisable not to input branch address when inputting your business details (it will require fee/uploading more documents).
Note that approval of Businesses now take up to a month or more (depends on the reviewer and simplicity of your presentation)
If you get disapproval notification, login to your portal and read the disapproval note to know what is required of you. Resolve the query and submit again for approval.
After your final approval, you will have your business certificate and documents downloadable on your portal.
Download and save the documents on your devices, and you can as well print as may be required.
This is all you need to get your business registered with Corporate Affairs Commission in Nigeria.
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