Introduction:

When starting a business in Nigeria, it is essential to register your company with the appropriate government agency. The Corporate Affairs Commission (CAC) serves as the regulatory body responsible for the registration and management of companies in Nigeria. In this blog post, we will delve into the different categories of companies recognized by the CAC, outline the registration requirements, and discuss the associated costs.

1.    Company Categories: The Corporate Affairs Commission recognizes various types of companies that individuals can register. Here are the main categories:

a) Business Name: This category is suitable for sole proprietors or small businesses with a single owner. It is the simplest and most common form of company registration.

b) Private Limited Liability Company (Ltd): This category is suitable for businesses with multiple shareholders or partners. It offers limited liability protection, separating personal assets from business liabilities.

c) Public Limited Liability Company (Plc): This category is ideal for larger businesses planning to raise capital through public investment. It is subject to more stringent regulations and requirements.

d) Unlimited Company: This category does not impose limitations on the liability of its members, making them personally liable for the company's debts and obligations.

e) Incorporated Trustees: This category is specifically for non-profit organizations, charities, religious bodies, and other similar entities operating for the public or social welfare.

2.    Registration Requirements:

 To register your company with the Corporate Affairs Commission, you will need to fulfill certain requirements. Although specific requirements may vary depending on the company category, here are the general registration requirements:

a) Business Name:

·         Proposed business name

·         Applicant's full name, address, and occupation

·         Two passport-sized photographs of the applicant

·         Valid means of identification

b) Private/Public Limited Liability Company:

·         Proposed company name

·         Memorandum and Articles of Association

·         Details of shareholders/directors (minimum of two directors for private limited companies)

·         Registered office address

·         Means of identification for directors/shareholders

·         Minimum share capital requirement (₦10,000 for private limited companies and ₦500,000 for public limited companies)

c) Unlimited Company:

·         Proposed company name

·         Memorandum and Articles of Association

·         Details of members

·         Registered office address

·         Means of identification for members

d) Incorporated Trustees:

·         Proposed organization name

·         Constitution or Articles of Association

·         Details of trustees and officials

·         Registered office address

·         Means of identification for trustees and officials

 

3.    Registration Costs: The registration costs for company registration with the Corporate Affairs Commission vary depending on the company category and other factors. Here is a general overview:

a) Business Name: The registration fee for a business name ranges from ₦10,000 to ₦20,000, depending on the authorized share capital.

b) Private/Public Limited Liability Company: The registration fee for private limited liability companies is based on a sliding scale of authorized share capital, ranging from ₦10,000 to ₦5,000,000. Public limited liability companies have a fixed registration fee of ₦5,000,000.

c) Unlimited Company:

The registration fee for unlimited companies follows the same sliding scale as private limited liability companies.

d) Incorporated Trustees:

The registration fee for incorporated trustees ranges from ₦20,000 to ₦200,000, depending on the organization's authorized capital.

It's worth noting that these costs are subject to change, and additional fees may apply for specific services, such as name reservation or certified true copies of documents.

Name Sample:

1.    Business Name:

·         John's Bakery

·         Smith & Sons Furniture

·         XYZ Trading Enterprises

·         Mary's Fashion Boutique

 

2.    Private Limited Liability Company (Ltd):

·         ABC Consulting Services Ltd.

·         XYZ Construction Ltd.

·         Green Energy Solutions Ltd.

·         Blue Sky Technologies Ltd.

 

3.    Public Limited Liability Company (Plc):

·         ABC Pharmaceuticals Plc.

·         XYZ Bank Plc.

·         Green Power Generation Plc.

·         Blue Star Airlines Plc.

 

4.    Unlimited Company:

·         ABC Law Firm Unlimited

·         XYZ Manufacturing Unlimited

·         Green Real Estate Unlimited

·         Blue Ocean Shipping Unlimited

 

5.    Incorporated Trustees:

·         ABC Foundation

·         XYZ Charity Organization

·         Green Environmental Society

·         Blue Education Trust

Please note that these are fictional examples for illustrative purposes. Actual company names should comply with the CAC guidelines for name availability and should not infringe upon existing trademarks or intellectual property rights.

Remember to conduct a thorough name availability search before finalizing your company name to ensure it is unique and not already in use by another entity. It is always advisable to consult with a legal professional or directly contact the Corporate Affairs Commission for precise and up-to-date information regarding registration requirements and costs based on your specific business needs.

I want to register my Business                                                   START  SCUML REGISTRATION