HOW TO REGISTER YOUR COMPANY WITH THE CORPORATE AFFAIRS COMMISSION UNDER THE TREASURY SINGLE ACCOUNT SYSTEM

In Nigeria, the Corporate Affairs Commission (C.A.C) is the governmental body responsible for registering business names, companies and Incorporated Trustees. It is important to note that registering a company is not as difficult as many will believe if you understand the procedure.

Presently, the procedure for registering any business, Company or Incorporated Trustees has changed due to the introduction of the Treasury Single Account, but the changes only affect majorly the mode of payment and some important documentation needed in the registration process.

PROCEDURE FOR COMPANY REGISTRATION

Registering a business in Nigeria can be achieved by incorporation of a company or registering a Business name.

The first step to registering a company is to choose two unique names for your company. An example is Life Style Consulting Ltd or Unique Goal Nigeria Ltd.

Following the introduction of the Treasury Single Account, you cannot purchase any CAC form from the office of the Corporate Affairs Commission or make direct payment in the Corporate Affairs Commission. Due to this, the first step you are required to take is to generate your Remita Code from www.remita.net

HOW TO GENERATE YOUR CODE

To generate your remita Code which is mostly referred to as RRR Code, you need to log on to www.remita.net. then Click Pay a Remita Customer/Biller. After clicking the Pay a Remita Customer/Biller.

[img][/img]

After clicking the remita Customer/Biller, just insert the Government body you wish to make payment to, (in this case, we are making payment to the Corporate Affairs Commission), type in the column box, Corporate Affairs Commission, and the Corporate Affairs commission suggestion will come up for you to click. simply click.
[img][/img]


Upon clicking the right payer, the necessary column will come up for payment such as name of service/purpose you wish to pay for.

you are required to select what you are paying for.
[img][/img]

Since the first thing you need to do towards registering your business name or company is to reserve a name for approval, what you need to do next is click NAME RESERVATION.

A name reservation costs N500 (Five Hundred Naira). Fill the necessary column, i.e. payers full name, payers email address, and phone Number. PLEASE NOTE THAT THE PAYERS NAME SHOULD BE IN THE NAME OF THE COMPANY YOU WISH TO REGISTER AND NOT YOUR PERSONAL NAME. For example, If the Company proposed name is Excite International Limited, this is the name you will put in the payer's column and not your personal name. if you fail to do this, your documents would be queried.

After filling all the necessary columns, click proceed to make payment. By doing this, you have generated your Remita Code (RRR CODE). To complete payment, you can either pay online using your internet banking facility or your ATM cards to conclude payment.

If you cannot conclude payment online, simply write out the Remita Code or print out the Payment Slip, take this to the nearest bank, pick up a teller and make payment. NOTE: The beneficiary name you will put on the Teller is "Corporate Affairs Commission" and also ensure that the amount being paid for is inserted on the Teller including the Remita Code.

NOTE: if you are making payment online or through any bank other than United Bank of Africa, you will have to verify payment with the account section of the Corporate Affairs Commission. To do this, just ask for the account section in any CAC office and verify payment.

Once you have completed payment, you can now visit the office of the Corporate Affairs Commission to verify payment if required and collect a Copy of the 'Availability and Name Reservation Form'. Fill the necessary information on the Name Reservation Form, make a copy of the CAC Form and the Teller from the Bank or Online payment slip, then Submit the CAC Reservation Form and the photocopy of the Teller or Online payment slip.

At this point , a waiting period of 7 working days is required before you can go back to the office of CAC for the result. It is the photocopy of the CAC Reservation of Name form you will use to collect the result so make sure you do not lose it.

If one of your chosen names is found suitable and unregistered, it will be assigned to you and reserved for 60 days. (Note. You must endeavor to choose a unique name that is unlikely to be similar with any other registered business name)

The next step is to complete registration by purchasing and filing the certain necessary CAC forms. These forms are reffered to as "set of Incorporation Forms" which comprises of the following forms labelled ; CAC 2, CAC 3, CAC 2.1 , CAC 4, and CAC 7.

Like i earlier mentioned, there is no direct payment to the Corporate Affairs Commission. To get this Form, you will need to adopt the same method described above in purchasing your 'Availability and Reservation of Name' form. In this case however, under the 'purpose/service' section, just click "SALE OF FORMS" and thereafter, all the types of forms will be displayed. Just Click Sale of LLC Forms: Set of forms.

Fill the necessary columns carefully.

PLEASE NOTE THAT THE DESCRIPTION COLUMN SHOULD BE IN THE NAME OF THE PROPOSED COMPANY NAME OR BUSINESS NAME TO BE REGISTERED.

Complete payment by adopting the above mentioned method for Reservation of Name form and visit the office of the Corporate Affairs commission to get a copy of the Forms.

Once you have got a copy of the Set of Forms, fill the forms appropriately and prepare your Memorandum and Articles of Association. The Memorandum and Articles of Association are the constitution of your Company which must be well drafted.

FILLING THE CAC FORMS

The proposed name of the Company must be written in the Column for Company Name.
The full names, ages and residential addresses of all the directors must be supplied
The address of the proposed company which must be within Nigeria
The Share capital of the Company must be stated on the form CAC 2 (the Authorized share capital of the Company)
The name of the Company Secretary must also be stated in the form as all companies must have a company secretary.
DOCUMENTS TO BE SUPPLIED

Means of identification for all the members of the Company must be provided for filing.
Certificate of proficiency

STAMP DUTIES AT FEDERAL INLAND REVENUE SERVICES

After filling all the CAC forms, you will need to submit Form CAC 2 (2 copies) and 3 copies of your Memorandum and Articles of Association with the Federal Inland Revenue Service for stamping. Stamping for a 1Million share capital is N 8,500. if you are incorporating a company with more share capital, please make the necessary consultation. To pay for Stamp duties, simply go to any Skye Bank nearest to you and pick up the FIRS Teller, fill the Teller and make payment. Take the stamped Teller to the FIRS office and submit 3 copies of your Memorandum and Articles of Association and 2 copies of your form CAC 2. The Stamped memorandum and Articles of Association and CAC 2 should be ready in a week.

PAYMENT OF INCORPORATION FEES

After Stamp duties, pay the necessary filing fees- To make payment, you need to adopt the Remita method mentioned above.

Select service/purpose option, then click Company Registration and follow the above mentioned steps in completing payment. Also note that the name of the proposed company must be in the description column.

FINAL STAGE OF INCORPORATION

After submitting your Memorandum and Articles of Association with the Federal Inland Revenue Service for stamp duties and making payment for incorporation either online or through the bank you are required to do the following;

1. Make copies of the Means of Identification of all the Directors and members of the Company. e.g Drivers license, International Passport or voters card.

2. Make copies of the Certificate of proficiency in the event your company is offering any particular professional services such as Taxation, Accounting or Legal etc.

3. Take the Form CAC 4 to the Commissioner for Oaths of the High Court, Magistrate Court or Ministry of Justice for oaths.

4. Make 3 copies of your payment slip i.e. either online payment slip or bank teller

5. Make copies of your Form CAC 7, CAC 2, CAC 3 and CAC 2.1 and attach with the following documents; Original copies of your Form CAC 7, CAC 2, CAC 3, CAC 2.1, CAC 4.

6. Submit all the documents and wait for your certificates of Incorporation to be ready for collection.

These are all the steps you are required to take to register your company.

Note: A minor (someone below the age of 18) can only be a director in a company provided that there are two other adults listed as directors.

Wte Power Fix Nigeria Ltd

Adeusi Adetunji Olusola

Very good information. Thanks op

Nice

Please can u give me your phone number? I need to make some enquiries regarding CAC from you. Thanks

tuneni034:

HOW TO REGISTER YOUR COMPANY WITH THE CORPORATE AFFAIRS COMMISSION UNDER THE TREASURY SINGLE ACCOUNT SYSTEM

In Nigeria, the Corporate Affairs Commission (C.A.C) is the governmental body responsible for registering business names, companies and Incorporated Trustees. It is important to note that registering a company is not as difficult as many will believe if you understand the procedure.

Presently, the procedure for registering any business, Company or Incorporated Trustees has changed due to the introduction of the Treasury Single Account, but the changes only affect majorly the mode of payment and some important documentation needed in the registration process.

PROCEDURE FOR COMPANY REGISTRATION

Registering a business in Nigeria can be achieved by incorporation of a company or registering a Business name.

The first step to registering a company is to choose two unique names for your company. An example is Life Style Consulting Ltd or Unique Goal Nigeria Ltd.

Following the introduction of the Treasury Single Account, you cannot purchase any CAC form from the office of the Corporate Affairs Commission or make direct payment in the Corporate Affairs Commission. Due to this, the first step you are required to take is to generate your Remita Code from www.remita.net

HOW TO GENERATE YOUR CODE

To generate your remita Code which is mostly referred to as RRR Code, you need to log on to www.remita.net. then Click Pay a Remita Customer/Biller. After clicking the Pay a Remita Customer/Biller.

[img][/img]

After clicking the remita Customer/Biller, just insert the Government body you wish to make payment to, (in this case, we are making payment to the Corporate Affairs Commission), type in the column box, Corporate Affairs Commission, and the Corporate Affairs commission suggestion will come up for you to click. simply click.
[img][/img]


Upon clicking the right payer, the necessary column will come up for payment such as name of service/purpose you wish to pay for.

you are required to select what you are paying for.
[img][/img]

Since the first thing you need to do towards registering your business name or company is to reserve a name for approval, what you need to do next is click NAME RESERVATION.

A name reservation costs N500 (Five Hundred Naira). Fill the necessary column, i.e. payers full name, payers email address, and phone Number. PLEASE NOTE THAT THE PAYERS NAME SHOULD BE IN THE NAME OF THE COMPANY YOU WISH TO REGISTER AND NOT YOUR PERSONAL NAME. For example, If the Company proposed name is Excite International Limited, this is the name you will put in the payer's column and not your personal name. if you fail to do this, your documents would be queried.

After filling all the necessary columns, click proceed to make payment. By doing this, you have generated your Remita Code (RRR CODE). To complete payment, you can either pay online using your internet banking facility or your ATM cards to conclude payment.

If you cannot conclude payment online, simply write out the Remita Code or print out the Payment Slip, take this to the nearest bank, pick up a teller and make payment. NOTE: The beneficiary name you will put on the Teller is "Corporate Affairs Commission" and also ensure that the amount being paid for is inserted on the Teller including the Remita Code.

NOTE: if you are making payment online or through any bank other than United Bank of Africa, you will have to verify payment with the account section of the Corporate Affairs Commission. To do this, just ask for the account section in any CAC office and verify payment.

Once you have completed payment, you can now visit the office of the Corporate Affairs Commission to verify payment if required and collect a Copy of the 'Availability and Name Reservation Form'. Fill the necessary information on the Name Reservation Form, make a copy of the CAC Form and the Teller from the Bank or Online payment slip, then Submit the CAC Reservation Form and the photocopy of the Teller or Online payment slip.

At this point , a waiting period of 7 working days is required before you can go back to the office of CAC for the result. It is the photocopy of the CAC Reservation of Name form you will use to collect the result so make sure you do not lose it.

If one of your chosen names is found suitable and unregistered, it will be assigned to you and reserved for 60 days. (Note. You must endeavor to choose a unique name that is unlikely to be similar with any other registered business name)

The next step is to complete registration by purchasing and filing the certain necessary CAC forms. These forms are reffered to as "set of Incorporation Forms" which comprises of the following forms labelled ; CAC 2, CAC 3, CAC 2.1 , CAC 4, and CAC 7.

Like i earlier mentioned, there is no direct payment to the Corporate Affairs Commission. To get this Form, you will need to adopt the same method described above in purchasing your 'Availability and Reservation of Name' form. In this case however, under the 'purpose/service' section, just click "SALE OF FORMS" and thereafter, all the types of forms will be displayed. Just Click Sale of LLC Forms: Set of forms.

Fill the necessary columns carefully.

PLEASE NOTE THAT THE DESCRIPTION COLUMN SHOULD BE IN THE NAME OF THE PROPOSED COMPANY NAME OR BUSINESS NAME TO BE REGISTERED.

Complete payment by adopting the above mentioned method for Reservation of Name form and visit the office of the Corporate Affairs commission to get a copy of the Forms.

Once you have got a copy of the Set of Forms, fill the forms appropriately and prepare your Memorandum and Articles of Association. The Memorandum and Articles of Association are the constitution of your Company which must be well drafted.

FILLING THE CAC FORMS

The proposed name of the Company must be written in the Column for Company Name.
The full names, ages and residential addresses of all the directors must be supplied
The address of the proposed company which must be within Nigeria
The Share capital of the Company must be stated on the form CAC 2 (the Authorized share capital of the Company)
The name of the Company Secretary must also be stated in the form as all companies must have a company secretary.
DOCUMENTS TO BE SUPPLIED

Means of identification for all the members of the Company must be provided for filing.
Certificate of proficiency

STAMP DUTIES AT FEDERAL INLAND REVENUE SERVICES

After filling all the CAC forms, you will need to submit Form CAC 2 (2 copies) and 3 copies of your Memorandum and Articles of Association with the Federal Inland Revenue Service for stamping. Stamping for a 1Million share capital is N 8,500. if you are incorporating a company with more share capital, please make the necessary consultation. To pay for Stamp duties, simply go to any Skye Bank nearest to you and pick up the FIRS Teller, fill the Teller and make payment. Take the stamped Teller to the FIRS office and submit 3 copies of your Memorandum and Articles of Association and 2 copies of your form CAC 2. The Stamped memorandum and Articles of Association and CAC 2 should be ready in a week.

PAYMENT OF INCORPORATION FEES

After Stamp duties, pay the necessary filing fees- To make payment, you need to adopt the Remita method mentioned above.

Select service/purpose option, then click Company Registration and follow the above mentioned steps in completing payment. Also note that the name of the proposed company must be in the description column.

FINAL STAGE OF INCORPORATION

After submitting your Memorandum and Articles of Association with the Federal Inland Revenue Service for stamp duties and making payment for incorporation either online or through the bank you are required to do the following;

1. Make copies of the Means of Identification of all the Directors and members of the Company. e.g Drivers license, International Passport or voters card.

2. Make copies of the Certificate of proficiency in the event your company is offering any particular professional services such as Taxation, Accounting or Legal etc.

3. Take the Form CAC 4 to the Commissioner for Oaths of the High Court, Magistrate Court or Ministry of Justice for oaths.

4. Make 3 copies of your payment slip i.e. either online payment slip or bank teller

5. Make copies of your Form CAC 7, CAC 2, CAC 3 and CAC 2.1 and attach with the following documents; Original copies of your Form CAC 7, CAC 2, CAC 3, CAC 2.1, CAC 4.

6. Submit all the documents and wait for your certificates of Incorporation to be ready for collection.

These are all the steps you are required to take to register your company.

Note: A minor (someone below the age of 18) can only be a director in a company provided that there are two other adults listed as directors.

Wte Power Fix Nigeria Ltd

Adeusi Adetunji Olusola

God Bless U for this info. Thanks

[quote author=dazojay post=47462622]
Please can u give me your phone number? I need to make some enquiries regarding CAC from you. Thanks


08037032004

Kindly assist in advicing me pls. I registered a company since 2012, and the company has not been used for any job since then, no tax or any other thing done, it has just been kept. Now I have resigned and wish to open an office. Can I still pick up this company for use or I should just register another. If I can still use it, can u pls put me thru on what to do to make this company fit for use based on the neccessary filings I have to do.Thank you.

Lastruct:
Kindly assist in advicing me pls. I registered a company since 2012, and the company has not been used for any job since then, no tax or any other thing done, it has just been kept. Now I have resigned and wish to open an office. Can I still pick up this company for use or I should just register another. If I can still use it, can u pls put me thru on what to do to make this company fit for use based on the neccessary filings I have to do.Thank you.

If you have registered the company, please go to www.new.cac.gov.ng. click the public search. type the company name in the column. This will determine if the company is still registered with the Corporate Affairs commission. I am very certain it will still be.

If the company is still there as registered, you can continue with the company as your business. But please always ensure you pay your annual return as at when due so as to avoid penalties.

Lastruct:
Kindly assist in advicing me pls. I registered a company since 2012, and the company has not been used for any job since then, no tax or any other thing done, it has just been kept. Now I have resigned and wish to open an office. Can I still pick up this company for use or I should just register another. If I can still use it, can u pls put me thru on what to do to make this company fit for use based on the neccessary filings I have to do.Thank you.

Just pay your Annual return with the Corporate Affairs Commission. Visit the nearest FIRS office and inform them that you just want to commence business.Apply for your Tax Identification Number, open an account and start your business.

Nice one

tuneni034:



Just pay your Annual return with the Corporate Affairs Commission. Visit the nearest FIRS office and inform them that you just want to commence business.Apply for your Tax Identification Number, open an account and start your business.

hey; can I register my "one man business"? It's just a cryptocurrency business and I want to make it legit and pay my small returns to the government through tax.. not happy that at not paying my tax..

nice

According to the Federal Government drive to making the cost of doing business cheap in Nigeria, do you know that registering a business name, limited liability companies and other allied dealing with the Corporate Affairs Commission is now very easy & faster and can be done by the first directors, proprietors and trustees (promoters).
If you need assistance as regards the particulars of a proposed company, stamping of documents, pre-incorporation documentation, filing of incorporation documents, registration and incorporation, preliminary matters after incorporation (Company Seal, FIRS TIN, EFCC SCUML, Corporate Bank Opening) & Post incorporation (annual returns, changes in memorandum, removal or appointing directors, change of company name, increase in share capital).
We are also professionals in trademarks, patents, copyrights & special designs; NAFDAC registration, NIPC registration, NEPC registration and other government special registration, taxation (TCC, VAT & CIT returns) etc.
We have assisted over 200 hundred promoters, clients in Nigeria and Diaspora with our all inclusive corporate service. You can contact us for more information and inquiries via call or Whatsapp on 08107804290.

Nice one

Am very impress...Newspapers ought to give us this info.
But what is the importance of getting a business name and making it Ltd?

emmykk:
Am very impress...Newspapers ought to give us this info.
But what is the importance of getting a business name and making it Ltd?

Below are some features of a limited company

1. Sources of capital: Apart from financial contributions made by the shareholders, capital can be raised through contributions made by newly joined shareholders, loans and overdrafts from financial institutions, ploughed back profits/retained earnings and credit facilities from business’ suppliers.
2. A shareholder cannot transfer his shares to another shareholder or a third party without the approval of other shareholders.
3. The suffix ‘Limited’ (Ltd.) is added at the end as part of the name of a private limited company. For example, XYZ. Ltd.
4. The company is managed by a board of directors, alongside a managing director and chairman of the board, who are elected from among the shareholders.
5. Shareholders are only limited by the value of the shares they hold.
6. Shareholders jointly bear the business’ risks together.
7. As a separate legal entity (an imaginary person), the company can sue and be sued in its own name.
8. The company enjoys some privacy as its books of accounts are not made public.
9. The death or withdrawal of a shareholder does not bring the business to an end.
10. A greater number of shareholders mean a greater pool of knowledge, ideas, skills, abilities and expertise. This is an advantage to the private limited company compared to the sole proprietorship and the partnership.
11. Growth and expansion can be achieved since there are more sources of capital.

A bit of knowledge about a business name.

Business Name is also called Sole Proprietorship. It is a form of registration use by individuals and partners who want to carry on businesses other than the use of their own names. It affords them some measures of protection of their business name and also protects the public from the misleading and fraudulent use of such names. It can also embody a partnership business.
It is the cheapest and the simplest form of corporate registration. In this class of registration ‘Proprietor or Partner’ is used and not shareholders because it does not involve shares, it is not a limited liability company because the partners or the sole owner are liable for profit and loss of the business. Succession is limited only to partnership. It is suitable for artisans, accountants, lawyers etc. Enterprises, concept, Ventures, are mostly used for its suffixes. Proprietor membership ranges from 1-20. Certificate of proficiency is necessary for professional services like law, engineering, architecture, advertising firm, financial firm; consultancy and management firms requires master’s degree and educational firms requires a minimum of N.C.E. etc.

For inquiries on how to assist you better, contact us on 08107804290 via call or Whatsapp.

this will interest you https://www.nairaland.com/3725490/7-reasons-must-register-business#55303691

1. Nursery/ Primary School: N.C.E/ B.Ed
2. Secondary School: B.Ed
3. Post-Secondary School: M.Ed, PGD. Ed, Phd (Edu)
4. Investment/ Mutual Fund Company: SEC Authorization
5. Advertising/ Media/ Marketing: APCON
6. Engineering/ Construction: COREN
7. Microfinance Bank/ Bank/ Any Other Financial Services: CBN Authorization.
8. Insurance Company: NAICON Authorisation
9. Consultancy/ Management: Masters Degree in precised field
There are others but will post them later.
If you have inquiries to make, call or Whatsapp us on 08107804290.

There is always an advantage you get with us. We do not just help you register your business name (Enterprise, Ventures or Company), limited liability companies (private limited company, public limited company or unlimited company), NGO/ IT (church, club, foundation), we also help you grow and advance it. After we assist you with the registration process at CAC, we also help with your tax papers and other registration process like EFCC (SCUML), SON, NAFDAC, TRADEMARK, FIRS (VAT, TCC, CIT) e.t.c. We have seasoned professionals who are ready to consult for you and your company at low cost fees. We are proud to say we have registered over 100 companies for clients and promoters in Nigeria and Diaspora. Why not contact us today for an all exclusive corporate package at an affordable fee. Call or Whatsapp us now 08107804290.

I sincerely appreciate the writer of this article he/ she have done a nice job. however CAC is not statics in their operations they are dynamics almost every month they change their way of operation. For instance there is no more set of form only one form is applicable that is CAC 1.1 (Application form ) and you can not use pen to fill this form . secondly there is no more manual registration. Thirdly don't waste your time or money by going to CAC office for incorporation of your company or because you want to buy one form or the other cac will not attend to that. you can go there for information or questions sure they will attend to that.
If you are in need of help to register your business name or Company call or Whatsapp 08075800577 08062094853.

Hello Nairalanders, this is a very important information as regards business name, limited company and IT (NGO) registration with the CAC, the Commission has issued a notice that all manual filing with the Commission has been suspended, this take effect from Monday 15th May, 2017. This means that no filing of all registration documents in person at the Commission, this should be more effective in Lagos, Kano, Abuja and some selected important cities in Nigeria. But don't be bothered at all, the good news is that you can now do all your registration through the online platform (CAC portal) which is faster and more efficient to monitor but remember you still need professionals on the know-how.

However, if you have any issue or concern on how to go about your company registration process (Business Name, Limited Liability Companies, NGO, Church, Club, Foundation), you need not to worry. Remember we are an accredited agent/ Consultant with the Corporate Affairs Commission (CAC), Trademarks, Patents and Designs Registry, FIRS and other government agencies.

All you have to do is contact us on 08107804290 via Whatsapp or call.

DeConsultant:
There is always an advantage you get with us. We do not just help you register your business name (Enterprise, Ventures or Company), limited liability companies (private limited company, public limited company or unlimited company), NGO/ IT (church, club, foundation), we also help you grow and advance it. After we assist you with the registration process at CAC, we also help with your tax papers and other registration process like EFCC (SCUML), SON, NAFDAC, TRADEMARK, FIRS (VAT, TCC, CIT) e.t.c. We have seasoned professionals who are ready to consult for you and your company at low cost fees. We are proud to say we have registered over 100 companies for clients and promoters in Nigeria and Diaspora. Why not contact us today for an all exclusive corporate package at an affordable fee. Call us now 08107804290, 08026103452 or email us at pendoknig@yahoo.com.

I want to register my soap/cream business. Am I to use Ventures or what? Please enlighten. I have an MSc

DeConsultant:


Below are some features of a limited company

1. Sources of capital: Apart from financial contributions made by the shareholders, capital can be raised through contributions made by newly joined shareholders, loans and overdrafts from financial institutions, ploughed back profits/retained earnings and credit facilities from business’ suppliers.
2. A shareholder cannot transfer his shares to another shareholder or a third party without the approval of other shareholders.
3. The suffix ‘Limited’ (Ltd.) is added at the end as part of the name of a private limited company. For example, XYZ. Ltd.
4. The company is managed by a board of directors, alongside a managing director and chairman of the board, who are elected from among the shareholders.
5. Shareholders are only limited by the value of the shares they hold.
6. Shareholders jointly bear the business’ risks together.
7. As a separate legal entity (an imaginary person), the company can sue and be sued in its own name.
8. The company enjoys some privacy as its books of accounts are not made public.
9. The death or withdrawal of a shareholder does not bring the business to an end.
10. A greater number of shareholders mean a greater pool of knowledge, ideas, skills, abilities and expertise. This is an advantage to the private limited company compared to the sole proprietorship and the partnership.
11. Growth and expansion can be achieved since there are more sources of capital.

A bit of knowledge about a business name.

Business Name is also called Sole Proprietorship. It is a form of registration use by individuals and partners who want to carry on businesses other than the use of their own names. It affords them some measures of protection of their business name and also protects the public from the misleading and fraudulent use of such names. It can also embody a partnership business.
It is the cheapest and the simplest form of corporate registration. In this class of registration ‘Proprietor or Partner’ is used and not shareholders because it does not involve shares, it is not a limited liability company because the partners or the sole owner are liable for profit and loss of the business. Succession is limited only to partnership. It is suitable for artisans, accountants, lawyers etc. Enterprises, concept, Ventures, are mostly used for its suffixes. Proprietor membership ranges from 1-20. Certificate of proficiency is necessary for professional services like law, engineering, architecture, advertising firm, financial firm; consultancy and management firms requires master’s degree and educational firms requires a minimum of N.C.E. etc.

For inquiries on how to assist you better, contact us on 08107804290, 08026103452 or email us at pendoknig@yahoo.com.

A name I want to register ends with "Group" and my friend said it won't be filed under business name (which is cheaper) but under LLC due to the "Group" in the name and he said it cost more for LLC and PLC

What do you have to say about this?

conceptz21:


I want to register my soap/cream business. Am I to use Ventures or what? Please enlighten. I have an MSc

It is a good thing you doing. Your business can be registered in two different categories. Firstly as a business name, a business name is registered a normal sole proprietorship, they are cheaper, less technical and have less tax commitment. As a start up, a business name is best used because of the ease involved in it.
But there are limitations associated with a business name, firstly, it has few nature of business, that is, it has one or two nature of businesses. It can't be use get big contracts, mostly government. It can't be transferred to ones children. Banks are always skeptical to borrow hugh funds to them. If you are thinking a good & big future for your businesses then a business name is not a good idea but remember if it is just for a specialized business, then you can go for it.

A Private limited company (LTD) is best use for an standard businesses in Nigeria because of its peculiarities. It involves shares, this help everyone involved in the company to know his/her take and status in the company. It has a wide range of business objective, you can even go as far as 10 business objectives (ranging from oil & gas, general merchandise, real estate, road transport etc). Also, it is mostly use for contracts in Nigeria. It very legal and can sue or be sued. It also transmission/ transfer of shares. It can also be converted to a publicly quoted limited company (LTD). Though, it has more formalities, you will need at less two directors and a secretary. It is more expensive than a business name. It has more formalities and it is more legal.
So the choice is yours take. You want a business name which is cheap and can do limited businesses because of its nature and pays less tax or a Private Limited Company that has wide range of business objectives and other future advantages but is more expensive and has more tax than a business (this is subject to the businesses of the company).

Feel free to call or Whatsapp us on 08107804290, for further enquires and information on all corporate services.

ismart:


A name I want to register ends with "Group" and my friend said it won't be filed under business name (which is cheaper) but under LLC due to the "Group" in the name and he said it cost more for LLC and PLC

What do you have to say about this?

Thanks for question. Firstly, there are two major classes for business in the corporate world. One is a business name, which is cheaper and has its limitations. The second is a limited by shares company, it has in it a Private limited company, public limited company and unlimited companies.
Now to your question, for you to be able to use a group, by corporate law you must have at least three already registered limited companies, also at least two directors to be appointed in the group must be in those three registered limited companies. Therefore, a group is applied for by already established limited companies, that means your friend is a bit wrong. You can not just start out as a group of companies if you haven't met the criteria of the three already registered limited companies. So if you want a group as company name, you have to fulfill the needed requirements.

For further information and inquires contact us on 08107804290 via call or Whatsapp.

Can I register a business name for someone and collect the certificate on behalf of the person?

Abra4real:
Can I register a business name for someone and collect the certificate on behalf of the person?

Yes you can register a company for someone as a proxy through the CAC online platform but you wont be able to collect the certificate if you are not a proprietor in a business name, a director in a Private Limited Company or a trustee in the case of an Incorporated Trustee, unless you are an accredited agent (Chartered Secretary, Chartered Accountant or Lawyer) with the Corporate Affairs Commission.

However, you need not worry at all, we are an accredited agent with the Corporate Affairs Commission, so you can be rest assured that your company will be registered and handled by professionals. We won't just help you register your company, we will be there for you all even after incorporation, to your corporate account requirements and other post-incorporation process.

Contact us on 08107804290, via whatsapps or call us.

Still on all corporate concerns, ranging from company registrations (Business name, Limited Companies, NGOs etc.) to getting your corporate account rolling on. Our professionals won't stop assisting you until we know that your company is stable with our services all encompassing with our Consultancy, Incorporation, Taxation and Services model. With services like FIRS TIN or TCC, EFCC SCUML, Annual returns, corporate audits, Post Incorporation and Other corporate services at your fingertips.

We also assist clients with any difficulty on their CAC online platform, all steps ranging from the start to the concluding aspect.

Name Search
Continuing the registration process
Inserting of all relevant information
Payment making (CAC and FIRS Stamp duty)
Downloading of documents
What to do with the downloaded documents.
Uploading the relevant documents.

We are proud to say we have assisted over 100 promoters and clients within Nigeria and Diaspora. Contact us today on 08107804290 via Whatsapps or call us.

DeConsultant:
Hello Nairalanders, this is a very important information as regards business name, limited company and IT (NGO) registration with the CAC, the Commission has issued a notice that all manual filing with the Commission has been suspended, this take effect from Monday 15th May, 2017. This means that no filing of all registration documents in person at the Commission, this should be more effective in Lagos, Kano, Abuja and some selected important cities in Nigeria. But don't be bothered at all, the good news is that you can now do all your registration through the online platform (CAC portal) which is faster and more efficient to monitor but remember you still need professionals on the know-how.

However, if you have any issue or concern on how to go about your company registration process (Business Name, Limited Liability Companies, NGO, Church, Club, Foundation), you need not to worry. Remember we are an accredited agent/ Consultant with the Corporate Affairs Commission (CAC), Trademarks, Patents and Designs Registry, FIRS and other government agencies.

All you have to do is contact us on 08107804290, 08026103452 or email address on pendokng@yahoo.com.

Please help out. I filled the online business name registration forms. However the preview information was incomplete, even though I filled the forms completely and correctly. Stuffs like sex, occupation etc appeared as N/A even though i filled them. Should i go ahead with the payment?

Has anyone experienced this before?

Op thanks for the info but can one incorporate a LTD without the help of a lawyer?
As the above write up seems easy and without mentioning thousands upon thousands as called by agents.

olumyde:


Please help out. I filled the online business name registration forms. However the preview information was incomplete, even though I filled the forms completely and correctly. Stuffs like sex, occupation etc appeared as N/A even though i filled them. Should i go ahead with the payment?

Has anyone experienced this before?

Hello, do not continue with the process, all basic requirements are essential and if they are not duly filled, the company process will be queried. So i will advise you go back and input the information required before making payment.

For further inquiries on company registration, taxation, intellectual properties, post incorporation etc kindly contact us on 08107804290 via call or Whatsapp.

gowaga68:
Op thanks for the info but can one incorporate a LTD without the help of a lawyer?
As the above write up seems easy and without mentioning thousands upon thousands as called by agents.

I doubt that for now, for a business name i recommend that clients and promoters do it themselves but when it comes to LTD and Incorporated Trustees, it is imperative that a professional is engaged because of the numerous formalities involved. However, you can get the service of a Lawyer, Chartered Secretary, Chartered Accountant etc that are understanding and affordable.

Kindly contact us for all inquiries and information on Company registration, taxation, intellectual properties, foreign national companies etc on 08107804290 via Whatsapp or call.