CAC Registration in Nigeria, Check cac registration fees 2023.

Corporate affairs commission updated price for business name, limited liability and non governmental organisations in 2023.

Cac business name registration fees in 2023, has not changed ,the entire format of business name registration is still the same. In 2023, alot of people had the belief that cac free business name registration continued, the free business name registration had ended

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

in the actual sense, its looks cheap, but the business name would not be complete without completing other requirement such as objectives of the business name,date of birth of the proprietor,identity card of the proprietor,business and residential address of the proprietor,the passport photograph of the proprietors,signature of the proprietor,phone number and email address of the proprietor.

REQUIREMENTS TO REGISTER A BUSINESS NAME IN NIGERIA.

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

i. Scanned copies of passport photograph(s) of proprietor(s)

ii. Federal government identity card(Drivers license,international passport,voters card,national identity card,affidavit of age declaration)

iii. Residential address of the proprietor

iv. Commercial address of the business

v. Business objectives

vi. Date of birth of the proprietor

vii.Email address and phone number of the proprietor

Consultants fee for Business name Registration- mostly all the cac consultants have massive input and experience they bring to bear, so price depends on what the consultant choice,mostly N25,000 can register a business name.

HOW TO START CAC COMPANY REGISTRATION IN NIGERIA–

After gathering the money for cac Company registration, the next step is to embark on the steps.

The following are the steps.

i. Conduct a cac name search for company registration using cac portal– in order to conduct a search with cac, your purpose for such search is very essential, the purpose for such search could be for name substitution,change of name,new registration and change of business name to limited.

In order to conduct search visit www.pre.cac.gov.ng ,to start the process,if you are not an accredited cac agent,kindly contact us,or reach any accredited cac agent.

ii. Payment: The payment for the proposed name is very essential,you can start payment for the registration by using remita retrival code or pay online through remita payment channel. (fee is six hundred naira)

iii. Result of the Search-The result of the cac search comes in under 24 hours or more, Wait for the Result of the search, result is usually what determines what you do next.

iv. Drafting and Preparation of the company Memorandum and Articles of Association- A good example of company memorandum and articles of an association of a company specifies the objectives of the company, the objectives of the company define what a company can validly do, a good articles of association of the company will state the voting rights of the shareholders and pre-emptive rights of the share holders.

v. Filing the online information :The cac agent makes sure the share holders gets their shares in units and then states the persons with significant control of the company.It is essential that the company promoter ,knows this details very well, uploading the identity card and signature of the directors,secretary,and shareholder through the portal for assessment.

vii. Submission of the Application to Federal inland Revenue Service:The federal inland revenue service is prime partner with cac during pre-incorporation of a company in Nigeria, the agency is tasked with the duty of collecting for the federal government, the assessed tax on the share capital of the company, this is called stamp duties charge, the stamp duties charge is calculated advalorem, and companies must comply, before the company is issued a tax identification number, the tax identification number is very essential when opening a corporate account with any bank in Nigeria. A company with no Tax identification number will not get to open a corporate account with any commercial bank.

SCUML CERTIFICATE-Under the special control unit on money laundering, 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.

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

CAC PRICE LIST FOR BUSINESS NAME AND ALLIED SERVICES

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

How to Start Business name Registration with Cac

in 2022, choosing to formalise your business could be for various reasons.

How to register a business name in Nigeria , a business name registration is different from a company registration.

To Register a business name in Nigeria, you need to follow these steps.

i. Choose a name for your business.

ii. Define the nature of your business ,for example trading ,buying and selling of goods and services, importation, exportation, real estate marketing,digital marketing,plumbing and woodwork making, etc.

iii. Search for cac website on google or download cac forms

iv. Register with cac and create an account as a public user using your email address, phone number .

v. Apply for name availability and reservation search.

vi. if the result is positive , take your approved name.

vii. open a segment of cac portal for registration.

vii. fill the online forms and pay for the registration.

THINGS TO AVIOD 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 appendage, 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 to start mentioning it on your objects.

To register a business name ,your identity card must be handy, you need a federal identity card,and one person alone can register a business name. note you will need not need a witness to complete your registration 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 .