change business name to company

How much do you need to pay to register a company in Nigeria in 2022? Many businesses in Nigeria are unregistered due to many factors,it is not new that most business with the abbreviation “LTD” are not registered upon proper search at corporate affairs commission.

The registration of businesses and companies are the statutory functions /duty of the commission.

How Much do you need to Register a Limited Company in Nigeria in 2022?

The fees for the registration of a company depends on the category of such a company ,it could be a company limited by shares,or company by guarantee or unlimited.

A company limited by shares has a lot of benefits,i.e allotment and re-allotment of shares, in 2022 we now also have a limited liability partnership company, a limited partnership company adding to the categories of limited company in Nigeria. it is worthy to note that there are differences between these categories of limited company

The fees for registering a brand new Limited liability company will depend on the share capital of the company,the number of directors and shareholders e.t.c for example a limited liability company with one million Naira shares is registered at the rate of N50K-65K , this will change if the share capital is two million naira.A company with one million naira shares capital is usually referred to as a small company.

It is also important to note that in registering a limited liability company,the minimum share capital is also a factor in determining the price charged, for example foreigners willing to register their construction companies in Nigeria with foreign ownership must have at least ten million naira shares capital before it can be registered,this will definitely affect the fee charged by a cac accredited agent for it.

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The general cac fees for business names in 2022 are:

1Reservation of Name500
2Registration of business name10,000.00
3Filing of notice of change of business name5,000.00
4Filing of notice of change in business address3,000.00
5Filing of notice of change in proprietorship9,000.00
6Filing of annual return3,000.00
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

It is important to note that these fees are affected by remita charges and professional service fees.

The registration and computation of fees are subject to the sole decision of cac.

in 2022 the fees for companies and allied services are as follows:

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 N500millionN10,000.00 for every N1million share capital or part thereof
4Registration of private company/Increase in share capital above N500millionN10,000.00 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 CompanyN2,000.00
14Filing of annual return for Private company other than a small companyN3,000.00
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 directorsN2,000.00
29Filing of return of allotment and or notice of change in shareholdingN2,000.00
30Filing of notice of change in registered addressN2,000.00
31Filing of notice of appointment of receiverN10,000.00
32Filing of notice of discharge of receiverN5,000.00
33Filing of notice of change of signatureN2,000.00
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

The list of fees above are subject to remita charges,cac decisions,and professional fees.

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it is very important to know cac fees for incorporated trustees in 2022

1Reservation of Name500
2Incorporation of trustees30,000.00
3Filing of notice of change of name10,000.00
4Filing of notice of change in trustees10,000.00
5Filing of notice of amendment of constitution6,000.00
6Filing of annual return5,000.00
7Filing of notice of court order for dissolution of incorporated trustees5,000.00
8Filing of other documents (miscellaneous)1,000.00
9Search on incorporated trustees file2,000.00
10Certified true copy of certificate of incorporation10,000.00
11Certifed true copy of constitution5,000.00
12Certified true copy of incorporation form2,000.00
13Certified true copies of other documents2,000.00 per document

The pricing for incorporated trustee registration such as church,NGO,club,foundation depends on the number of trustees,newspaper publication,constitution,consent fee. But 120k -150k can register an incorporated trustee in Nigeria.

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