Do you own a company or are you thinking of establishing one?<\/p>\n
Then you should consider registering your company.<\/p>\n
Registering your Company adds more trust and credibility to your profile. It also protects your Company name and provides legal backing for your business.<\/p>\n
The Corporate Affairs Commission (CAC) of Nigeria is saddled with the responsibility of registering Companies in Nigeria. The CAC was established by the Companies and Allied matters act, which was promulgated in 1990 to regulate the formation and management of Companies in Nigeria.<\/p>\n
Here is a step by step process on how to register a Company in Nigeria<\/p>\n
This is the first step you must take before registering your Company. The process involves choosing a suitable name for your Company. The chosen name will then be submitted to CAC to run an availability search. It is usually required to submit at least two names so that if one is taken the other might be available.<\/p>\n
Names can be rejected if they already exist, are confusing or include prohibited words such as \u201cNational, Federal, Government or Holdings\u201d without special permission.<\/p>\n
It normally takes up to a week to complete the process.<\/p>\n
This next step is best done via a lawyer. The lawyer is responsible for preparing the documents based on the objectives of the Company you wish to register.<\/p>\n
The lawyer will request for names of the first directors who are also the initial subscribers as well as the names of shareholders.<\/p>\n
Each director or subscriber must be above the age of 18, be of sound mind and must not have been convicted of any crime.<\/p>\n
The directors will be required to provide a means of identification for inspection by the CAC.<\/p>\n
After preparing the documents above you will be required to fill a form from CAC which is to be submitted back to CAC together with the document.<\/p>\n
At this stage you will need a company secretary who can be a lawyer or accountant and will be in charge of filing of documents with CAC after the company has been registered.<\/p>\n
The following apply during the form filling process:<\/strong><\/p>\n After the purchase of the incorporation forms and filling of same together with the preparation of the memorandum and article of association, the next stage is the payment of stamp duty done at an arm of the Federal Inland Revenue Services.<\/p>\n The stamp duty is usually paid at a designated bank into the account of Federal Inland\u00a0Revenue\u00a0Services.\u00a0After the payment, the applicant proceeds to the Stamp Duty Commission where the memorandum and article of association with some of the incorporation forms will be stamped.<\/p>\n After this, the filled forms and accompanying stamped documents are then submitted to CAC. The Certificate of Incorporation will like be returned after about six weeks from the date of submission.<\/p>\n","protected":false},"excerpt":{"rendered":" Do you own a company or are you thinking of establishing one? Then you should consider registering your company. Registering … <\/p>\n\n
4. Payment of Stamp Duty and Filling fee<\/strong><\/h2>\n