If you have a company in Nigeria and your worry is how to register a company with CAC in Nigeria. Please, worry no more because this guide will take you through the steps of registering your business in the CAC office.
But, if all you need is How to register a company with CAC online in Nigeria feel free to follow the link.
How to register a company with CAC in Nigeria (The Physical Method)
You will have to go to the CAC office to obtain the necessary forms to complete the three steps if you have decided to do an offline registration or use an agent. Most business owners feel more comfortable starting the process at the CAC office, so they can ask the employees questions they may have.
Can I register my business with CAC online? The answer is simply, yes. Here is how to register a business in Nigeria in the shortest time possible and without errors.
Step 1: Choose a business name
Your business name is vital to your success and can be quite difficult to choose. This is because it must be unique, eye-catching, and commercial.
You also need to make sure that the name you choose is related to the products/services your company will be dealing with. This means you need to take your time, as this is critical.
Currently, most of the existing companies in Nigeria have websites and are therefore available online. This makes it easier for you to search yourself to find out if the business name you have come up with is unique or has been used by someone else.
However, you must remember that many other companies have already registered but have not started running yet.
Step 2: Corporate Affairs Commission (C.A.C)
This is the body that deals with the registration of new businesses in Nigeria. You will need to visit the CAC website or office to check the availability of the company name.
Here, you will be presented with the trade name form (known as Form 008). You will need to complete this form as accurately as possible before submitting it. Also, you will have to pay a small fee for the form.
The form also acts as an application for the registration of the business name and underlines the importance of doing it well.
The CAC will take about a week or two to get back to you, although it should not take that long. If the business name is not available, you may need to think of another business name and fill in another form. If your business name is available, go to step three.
Step 3: Return to the CAC office
This second visit to the CAC constitutes the current business record and occurs only after the business name has been confirmed available. You will be presented with another form called Trade Name Registration (Form 001).
This form should also be filled out as accurately and accurately as possible, as any mistake can have terrible repercussions later in the life of the company after startup.
If there is something you do not understand, then do not hesitate to ask the CAC workers for clarification. After completing the form, you will be required to pay an amount Alternatively, you can enlist the services of a lawyer.
The problem is that you will have to pay him or her every time you want to register other businesses as part of the chain or brand you originally created, which is expensive. The do-it-yourself method, on the other hand, may take too long because you may not be familiar with the events of the CAC.
After paying the business registration fee, you will be presented with an affidavit/certificate form.
Next, you need to proceed to any nearby or in-house judicial tribunal for approval by the court magistrate. During this process, you will be required to pay an amount but should not be over N2000, as a court commitment expense.
The registration form requires you to provide certain personal and business information such as 2 passport photographs, a stapler, a partner’s details, your address (you can use the ‘home address), phone number (use GSM), and local government area, and some other requirements. Inquire about the requirements at the CAC office to avoid wasting time.
Step 4: Collect the business name registration certificate
After completing everything, paying the necessary fees, and submitting the forms and documents, you will then have to wait a couple of weeks before checking with the Corporate Affairs Commission for certification of your business name.
If all went well during the application process, you could expect not to wait too long.
While most people get the company name certification within a week or two, it is not unusual to wait around a month with some CAC centers in Nigeria.
After getting certified, you can go ahead and start your business. If you are more ambitious, you can think of integrating your business into LTD or PLC as you wish. The whole process should not take more than a few months, and you will be ready to start a fully registered business or organization.
Take Away: How to register a company with CAC in Nigeria
The Corporate Affairs Commission is a body tasked with regulating the establishment and administration of companies in Nigeria. Many entrepreneurs and small and medium-sized enterprises (SMEs) in Nigeria are unaware of the benefits of registering their firm with CAC.
Some Nigerian company owners delay registering their companies in order to avoid paying taxes. Register your business as the benefits outweigh its disadvantages. You can contact wealth if you’re willing to use an agent to avoid all the stress of self-registration.
If you don’t have a business idea, you can read 40 Small Businesses You Can Start With Little Capital In Nigeria Today
If you have an idea but no money, you can read also Learn How to Start a Business without Money with my 8 Amazing Secrets