The CAC Online registration using its website entails several stages that must be rigorously followed to register your corporation or business in Nigeria.
The Corporate Affairs Commission is a body set up in 1990 by the passing of Companies and Allied Matters Act in Nigeria. It is foreseen by the government for the regulation and management of businesses and companies in Nigeria.
Below is a basic explanation of how to register a business or a corporation in Nigeria.
Online Registration Of Companies in Nigeria With CAC
The incorporation of a company is considerably simpler. Thanks to the Corporate Affairs Commission’s (CAC) internet platform. It has made it more simple and easy.
As long as they are aware of the prerequisites for the incorporation procedure, startups can now establish a business with CAC online.
Before incorporating, it’s crucial to confirm that the intended name hasn’t already been registered by someone else. Before making any reservations, you can use the CAC’s public search website to determine whether a company is registered in Nigeria.
CAC Registration Portal Login
To register your business with Corporate Affairs Commissions, click here to get started.
Reservation of Name With CAC
Reservation of names online is the first significant step in the CAC online registration of a company. This step is essential since it helps reserve the desired company name for 60 days while the registration procedure is still ongoing.
To proceed with this section, you must first:
- Register an account with the CAC for new users or log in if you are an existing user
- After that, click on Name Reservation
- Fill out the appropriate columns
- And then pay the required cost.
- Then, wait a few hours or days to see if the commission will approve or disapprove your request.
How to Register a Company Online in Nigeria with CAC
Pre-Incorporation Of Company on the CAC Online Registration Platform
The accomplishment of this step decides whether the company will be incorporated, making it the most crucial. The actions to take in this section are as follows:
1. Completing all required fields on the online registration application form.
The information needed for the form is listed below:
- Particulars of the Company, including the type of primary business the company will be involved in, the proposed company’s registered office address, email address, and phone number.
- Amount of share capital
- Details of the 1st Director(s) (at least 1 person over 18 years old) – (Name, Date of Birth, Gender, Phone Number, Email Address, Forms of Identification-(certificate, a driver’s licence, or a visa); and the percentage of shares to be held (if the director is also a shareholder)).
- Name, date of birth, gender, phone number, email address, forms of identification (national identity card, permanent voters card, driver’s licence, or international passport), and the percentage of shares to be held by the shareholder(s) (at least one person).
- The percentage of shares allocated to each shareholder.
- Information about the Company Secretary (company secretary is no longer mandatory for a private company)
- Name, birth date, gender, phone number, email address, and forms of identification (passport, international travel document, permanent voter card, national identity card) of the secretary.
- Legal Practitioner’s Statutory Declaration of Compliance with CAMA Requirements (To be acknowledged by a Notary Public or Commissioner for Oaths and signed by a Legal Practitioner)
- Name, birth date, gender, phone number, email address, nationality, and forms of identification (passport, international travel document, permanent voter card, national identity card).
- Memorandum and Articles of Association: It is significant to remember that anyone registering a company may use the template Memorandum and Articles of Association (MEMART) found on the CAC portal.
However, any Startup/new company that wants to include more details about its governance or pre-incorporation agreements between shareholders and directors through its articles might hire experts, like a lawyer, to design several articles specifically for the company.
- Specifics of a MEMART witness
- Details of Person(s) with Significant Control (PSC).
- Signatures of the directors, shareholders, and a witness.
2. After completing the application, the applicant must proceed to pay the required fees.
For incorporation, particular fees to be made include:
- A CAC Fee (depending on the amount of share capital)
- Stamp Duty to the Federal Inland Revenue Service fees (charged ad valorem following the share capital)
3. The applicant will then submit the application online and await the CAC’s response
If the procedure is properly completed and all prerequisites are provided, the CAC will register the business and issue the certificate and other incorporation documents electronically.
A query could be sent if the application is not completed correctly.
CAC Company Registration Portal Login
As a company in Nigeria, to access the portal for the company registration login, click here.
CAC Pre-Incorporation Login
To get started with the CAC Pre-Incorporation, click here.
CAC Business Names Login
To access the CAC business login, click here to get started immediately.
Conclusion
The process for registering a Startup/company online has finally been streamlined. Given that all the necessary paperwork and information is prepared, the time required to finish a company registration has now been drastically cut down to only a few days.
However, several aspects of incorporation still call for outside assistance, particularly from a lawyer. For the preparation of articles of association that are distinct from the standard articles’ template offered by the CAC, the assistance of a corporate lawyer or a CAC accredited agent may be necessary.
A share capital threshold may also be applied to some businesses depending on the type of business being conducted.
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