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CAC is an accronym for Corporate Affairs Commission ,Cac is a federal government agency in Nigeria, exercising the functions of regulations of Registration of Businesses, Companies and Organizations in Nigeria, CAC is tasked with the powers to license and regulate small ,medium and large scale business operations in Nigeria.

As a way of driving the Nigerian economy forward, it has mandate of simplifying business operations in Nigeria, both for Nigerian citizens and foreigners.

Sometimes before 2020, information went viral that cac was going to transit to a fully digital agency in their services, yes finally they actually went digital in 2020, the entire gamut of the services of cac is now anchored on its websites.

In aiding the online operations, cac launched two powerful domains extensions to diversify the enormous traffic it receives daily.

The corporate affairs commission provided for online registration for business names, companies and Non-governmental organizations on this domain www.pre.cac.gov.ng, while its activities on post registration services is being routed on post.cac.gov.ng.

The corporate affairs commission also updated its freemium search functionalities and relaunched its cac search portal on www.search.cac.gov.ng to enable users find registered companies and business in Nigeria.

There are steps to registering business names in Nigeria online with cac .in the course of this post ,we shall list the requirements to satisfy to enable you register a business name in Nigeria. but before the requirements, you need to understand that the procedure starts and ends online. On this premise, we mean you need to be tech savvy to register the business name. we recommend you to link up with us,to aid you in this procedure. ok, lets drive you with the steps, you need to get registered on cac platform as a business.

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In order to start your registration, you need to do business name availability search, the name search attracts a fee for this search. the result of this search determines your next step.

It is worthy to note that there are prohibited names you cannot register with Cac , and there are also restricted names, which requires consent of the registrar general of the commission before it can be used for business purpose.

REQUIREMENTS TO REGISTER A BUSINESS NAME IN NIGERIA.

In order to register a business name in Nigeria the following are requirements:

In order to register your business name, the cac will require from you the following.

i. Do a name reservation and obtain a reservation code, ii. Use the code to commence your registration by filling the required form online

iii. Scan copies of your passport photograph(s) of proprietor(s) and partners if any.

iv. Scan copies of federal government identity card(Drivers license, international passport, voters card,national identity card,affidavit of age declaration)

iii. Fill in your Residential address of the proprietor

iv. Fill your Commercial address of the business

vi. Fill in your Business objectives

vii. Fill in your date of birth as the proprietor

viii. Fill in your Email address and phone number of the proprietor

OR Alternatively Use a cac accredited agent for fast Business name Registration- most of the cac consultants have massive input in helping you avoiding some costly mistakes while doing registration, registration with an accredited cac agent is stress free.

Pricing- Accredited cac agents pricing for business name registration ranges from N20,000 to N25,000.

See also  HOW TO GET E STATUS REPORT FROM CAC IN NIGERIA

CAC REGISTRATION FEES/SCHEDULE OF FEES

Cac Official filing fee for a business name registration is N10,700, this is the official filing fee including the remita fees during payments.

We shall update you with the table of fees on cac services below.

CAC PRICE LIST FOR BUSINESS NAME ,COMPANIES AND FEES FOR CAC SERVICES

S/NSUBJECTFEES in Naira (₦)
1Reservation of Name600
2Registration of business name10,000.00
3Filing of notice of change of business name5,000.00
4Filing of notice of change in business address5,000.00
5Filing of notice of change in proprietorship1,000.00
6Filing of annual return for business name3,000.00
7Filing of notice of cessation of business1,000.00
8Filing of other documents (miscellaneous)1,000.00
9Search on business name file1,000.00 per business name file
10Certified true copy of business name certificate of registration5,000.00
11Certified true copies of other documents2,000.00 per document

Registration of a company or incorporated trustee attracts fees, but they are not the same amount compared to business names.

A company ,limited by shares or unlimited or limited by guarantee has its own price list.

A break down of the cac price list for companies are shown below.

Cac Price Checklist for a Company in Nigeria

S/NSUBJECTFEES in Naira (₦)
1Reservation of NameN500.00
2Registration of private company with share capital of N1million or lessN10,000.00
3Registration of private company/Increase in Share Capital above N1million and up to N500millionN5,000.00 for every N1million share capital or part thereof
4Registration of private company/Increase in share capital above N500millionN7,500.00 for every N1million share capital or part thereof
5Registration of Public company/Increase in share capitalN20,000.00 for the first N1million share capital or part thereof
6Registration of Public Company/Increase in share capital above N1million and up to N500millionN10,000.00 for every N1million share capital or part thereof
7Registration of Public Company/increase in share capital above N500millionN15,000.00 for every N1million share capital or part thereof
8Registration of Company not having a share capitalN20,000.00
9Filing of notice of exemption of foreign Companies from RegistrationN30,000.00
10Re-instatement/Relisting of company nameN25,000.00
11Registration of charges for private companyN10,000.00 for every N1million or part thereof
12Registration of charges for public companyN20,000.00 for every 1Million or part thereof
13Filing of annual return for a small CompanyN5,000.00
14Filing of annual return for Private company other than a small companyN5,000.00
15Filing of annual return for public companyN5,000.00
16Filing of annual return for company Limited by GuaranteeN5,000.00
17Filing of annual report by foreign companiesN5,000.00
18Filing of statement in form of schedule 14 under section 553N10,000.00
19Filing of notice of merger/acquisitionN50,000.00
20Filing of special resolution for mergerN20,000.00
21Filing of other documents relating to mergerN10,000.00
22Filing of statutory declaration of solvencyN5,000.00
23Registration of appointment of liquidatorN10,000.00
24Registration of resolution for winding upN10,000.00
25Filing of return of final meeting and account of liquidationN5,000.00
26Filing of notice of change of company nameN10,000.00
27Filing of notice of alteration of memorandum and articles of associationN5,000.00
28Filing of notice of changes in particulars of directorsN5,000.00
29Filing of return of allotment and or notice of change in shareholdingN2,000.00
30Filing of notice of change in registered addressN5,000.00
31Filing of notice of appointment of receiverN10,000.00
32Filing of notice of discharge of receiverN5,000.00
33Filing of notice of change of signatureN5,000.00
34Filing of notice of reduction in share capital by public companyN20,000.00
35Filing of notice of reduction in share capital by private companyN10,000.00
36Filing of deed of release by public companyN10,000.00
37Fiiling of deed of release by private companyN5,000.00
38Application for extension of time for holding of annual general meeting by public companyN10,000.00
39Application for extension of time for holding of annual general meeting by private companyN5,000.00
40Letter of Good StandingN10,000.00
41Other filings (miscellaneous)N2,000.00
42Certified true copy of certificate of registrationN10,000.00
43Certified true copies of memorandum and articles of associationN3,000.00
44Electronic SearchN1,000.00per company
45Manual Search by customersN2,000.00 per company file
46Manual Search Report prepared by officers of the CommissionN5,000.00
47Certified true copies of other documentsN2,000.00 per document
48Consent for Restricted NamesN5,000.00

WHY YOU NEED SCUML CERTIFICATE AFTER REGISTERING WITH CAC.

SCUML CERTIFICATE-Under the special control unit on money laundering Act, the economic and financial crimes commission is tasked with the duty of making sure that companies are not set up with the purpose of engaging in money laundering, the vital provisions of money laundering ACT and EFCC ACT prohibits money laundering in Nigeria. In setting up a business in Nigeria as a company, and with an object of investment and finance and commerce, the directors of the company are expected to obtain from EFCC, A CERTIFICATE OF UNDERTAKING OF NOT ENGAGING IN MONEY LAUNDERING called SCUML CERTIFICATE.

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REQUIREMENTS FOR SCUML CERTIFICATE

Most businesses doing investment are mandated to obtain scuml certifcate before opening a bank account with the registered name.

i. To get a Scuml certificate ,which is a requirement for opening a corporate account, the Managing director of the company must submit his or her Bank verification number(bvn) , the national identification number, recent utility bill, two recent passports photograph and national identification card or any federal government issued identity card.

GENERAL TIPS WHEN DOING BUSINESS NAME REGISTRATION IN NIGERIA

In order to successfully register a business name, make sure you don’t choose a name similar or conflicting with a registered business name.

Also, it is essential to avoid using a name resembling federal or state government affiliation, the name must not create a representation that you are government body, neither should the objects confer to you the role and function of government agencies. For example, receiving and collecting tax is purely a government agency job and not your duty as a private company.

In order to fastrack the registration of your business name ,your means of identity must be handy, you need a federal identity card,and one person alone can register a business name, as well as a company.

Note you will need not need a witness to complete your registration in business name unlike in a company registration.

Cac Registration is now done online, this is in line of ease of doing business adopted by the commission.

Any person who is interested in carrying on business with the commission, must know few things about cac registration and post registration forms or find an accredited cac agent .

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