What You Need To Know About CAC Registration 2021, Fees, Requirements

What You Need To Know About CAC Registration 2021, Fees, Requirements

The process of registering your company or business name has been made easier by the Corporate Affairs Commission (CAC).

Now, you can start and finish the registration of your business and company’s name without much help.

Outlined in this post are the three steps involved in registering your business or company’s name, and the fees that you need to complete the process.

Before you begin the process, you need to ensure that the business or company’s name that you intend to register hasn’t been registered by the CAC.

How do you go about doing this? Easy, All you need to do is visit the website of the CAC to check if the name you want to register has not been incorporated.

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Here are the steps to take to register your business with the CAC

Step 1

You can reserve your intended business name for a period of 60 days through the CAC’s name reservation practice.

Steps to take:

  • Name Reservation
  • Go to the website of the commission here;
  • Sign up, if it’s the first time you’re going through the process or you could sign in if you have visited the website prior;
  • Next thing to do is reserve the business name you want by clicking on ‘Name Reservation’;
  • Fill the form accordingly and pay what is required;
  • After that, give it 24 hours for confirmation from CAC, and if the process was successful, print out the ‘approval note’.

Step 2:

This is the step that comes before incorporation.

  • Access the Registration Form CAC 1.1 and input all the necessary information. Here are the documents you need:
  • Company’s details: type of business, registered office address, and email address of your company;
  • Details of the first directors, at least 2 people above the age of 18 years: date of birth, name, phone number, gender, email address, identification documents (National ID, permanent voters card, driver’s licence, or international passport);
  • You’ll also need to disclose the percentage of shares to be held if the director is a shareholder in the company;
  • Shareholders document and details should include the following: date of birth, name, phone number, gender, email address, identification documents (National ID, permanent voters card, driver’s licence, or international passport) and the shares to be held.
  • Documents and details of the company’s secretary (they must be either a corporate body or an individual). Details should include: date of birth, name, phone number, gender, email address, identification documents (National ID, permanent voters card, driver’s licence, or international passport);
  • A legal declaration of compliance supplied by a legal person or body, as provided by CAMA (should be signed by a legal practitioner and attested to by a notary public or a commissioner for oaths)
  • Documents of the Articles of Memorandum of Association. To help, there is a ready-made template of the Articles of Memorandum of Association.
  • After filling the form successfully, you will be prompted to make payments to facilitate the process. You will be asked to pay for CAC registration fees and stamp duty to the Federal Inland Revenue Service Fees (FIRS).
  • After that is finished, you will need to make a print out a completely filled and electronically-stamped form CAC 1.1 and the Articles of Memorandum of Association.
  • Notarise the attestation pages and scanned copies of the signed documents.

Step 3

Uploading Documents for Incorporation.

You would need to scan all your documents, and to do this, you will need to sign in to the portal. Here are the documents you would be required to upload:

  • Approval note/Availability printout;
  • Registration form CAC 1.1;
  • Identification documents of shareholders and directors;
  • Receipt of payment of your CAC;
  • Stamp duty certificate (print this out after the required fee has been paid);
  • Memorandum and Article of Association;
  • Certificate of incorporation of the company’s secretary (this is needed only when the secretary is a corporate organisation).

Note: all documents need to be generated in PDF format.

Your company will be registered incorporation in less than 48 hours, and you will need to pick up your documents in person at the CAC office.

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What you need for CAC Registration

  • Name of business or company;
  • The goal of business;
  • Business memorandum and articles of association;
  • Document of authorised share capital;
  • Form CAC 1 and the reservation and availability of proposed name;
  • Names and addresses of directors incorporating the company;
  • Two passport photographs (must be recent), and valid IDs;
  • Name and address of company secretary;
  • Declaration of compliance by a legal practitioner;
  • Address of the company;
  • Filings with the Federal Inland Revenue Service (FIRS) and;
  • Any and all documents required by the commission.

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