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knotty (m)
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i am just about incorporating a limited liability company with 1million share capital. i am confused about the payments and actual cost of incorporation. can anybody with idea enlighten me please?
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collins011 (m)
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I just did mine through a lawyer's friend and you know it is only a lawyer or a chartered accountant can only do that for you. Most lawyers from 60k and above to incorporate a company with 1m shares but i did mine with 54k after pleading with him. If you are really interested in incorporating your own company you will need to come down to abuja or better still if you have somebody who you can tell to assist you here in abuja to contact me, call or mail me @ 08052602510 or collins011@yahoo.com |
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Kobojunkie
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I just did mine through a lawyer's friend and you know it is only a lawyer or a chartered accountant can only do that for you. Most lawyers from 60k and above to incorporate a company with 1m shares but i did mine with 54k after pleading with him. If you are really interested in incorporating your own company you will need to come down to abuja or better still if you have somebody who you can tell to assist you here in abuja to contact me, call or mail me @ 08052602510 or collins011@yahoo.com$415 for incorporating in Nigeria?? I just did that here this week for $125  |
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moreshow (m)
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You guys are big boys, where una dey steal money, Sorry i mean where una dey see money, Make una no dey indirectly flash us with una asset and worth for here ooo, This is a forum and not consultancy avenue |
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buddie (m)
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moreshow, Why sound so funny?If it doesnt go down well with you,then leave the forum 4 us,  |
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knotty (m)
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moreshow,
are you flustered by the 1million tag? it actually does not translate to 1million Naira immediately.
so please, do not discourage those who have the know-how to direct us into navigating our way around this issue. keep still, listen, i am sure you will need this info someday.
by the way, i checked their website(one of the best in Nigeria i am aware of) yet, it says nothing of how much your/my lawyer friends and accountants are willing to milk you/me of and for what reasons.
why must i pay 75,000? i am still wandering in my wonder.
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moreshow (m)
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moreshow, Why sound so funny?If it doesnt go down well with you,then leave the forum 4 us, moreshow,
are you flustered by the 1million tag? it actually does not translate to 1million Naira immediately.
so please, do not discourage those who have the know-how to direct us into navigating our way around this issue. keep still, listen, i am sure you will need this info someday.
by the way, i checked their website(one of the best in Nigeria i am aware of) yet, it says nothing of how much your/my lawyer friends and accountants are willing to milk you/me of and for what reasons.
why must i pay 75,000? i am still wandering in my wonder.
I meant no arm or insult just trying to be funny and naughty, |
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collins011 (m)
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The truth of the matter is that once one need any kind of services from professionals you must pay them some amount for their services. A closed lawyer friend were able to tell me the whole truth and what it takes in incorperating a company, i mean he listed the whole requirement, the main cost and his own fee, but the fees they charge ranges, depends on individual (i.e) what a Senior Advocate (SAN) will charge you in incorporating a company and what lawyer who just finish law school will charge you will never be the same. But am sure the main money required by CAC for incorporating 1million is between the range of 40,000 - 45,000 as you know definitely whoever that works must surely eat. so some of them put their own fee from 15,000 and above depending on the individual you approach for the service. I was able to know all this when i was trying to open my own and unfortunately i was not having enough money to flow around.
The ball is in your court, if you're really serious about it, i can introduce you to someone who can charge you a friendly price for that.
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Kobojunkie
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The truth of the matter is that once one need any kind of services from professionals you must pay them some amount for their services. A closed lawyer friend were able to tell me the whole truth and what it takes in incorperating a company, i mean he listed the whole requirement, the main cost and his own fee, but the fees they charge ranges, depends on individual (i.e) what a Senior Advocate (SAN) will charge you in incorporating a company and what lawyer who just finish law school will charge you will never be the same. But am sure the main money required by CAC for incorporating 1million is between the range of 40,000 - 45,000 as you know definitely whoever that works must surely eat. so some of them put their own fee from 15,000 and above depending on the individual you approach for the service. I was able to know all this when i was trying to open my own and unfortunately i was not having enough money to flow around.
The ball is in your court, if you're really serious about it, i can introduce you to someone who can charge you a friendly price for that.
Regardless , the cost Of signing a couple of forms and sending it to be approved by the state is still too high. It is almost 3 times what it is in the United states. That is enough reason to say PULL THE BRAKES, something is wrong. Sure Lawyers have to eat but if a lawyer charges that much in Nigeria and they charge a fraction of that in the US, Don't you see there is a problem here?? By the way, do you really need a Lawyer to incorporate in Nigeria?? Can't you just file the papers and send them in on your own and get it over with?? |
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thunder74 (m)
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Lawyer and Accountant have the exclusive privilege of incorporating a companies in Nigeria. Many of you only talk about the money you pay, but there are many things a lawyer will do before you get the certificate starting from searching to reservation, to registration and some follow ups. The fees varies as many of you have rightly said depending on the person you meet. But inc ase any of you need any assistance, I can be of help. Some of you should be free to approach lawyers for advise afterall that is why they are there for you. Incorporation is not a day, a week or a month job.
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Kobojunkie
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Lawyer and Accountant have the exclusive privilege of incorporating a companies in Nigeria. Many of you only talk about the money you pay, but there are many things a lawyer will do before you get the certificate starting from searching to reservation, to registration and some follow ups. The fees varies as many of you have rightly said depending on the person you meet. But inc ase any of you need any assistance, I can be of help. Some of you should be free to approach lawyers for advise afterall that is why they are there for you. Incorporation is not a day, a week or a month job.
Can you start by then enlightening us, What is the difference between incorporating and getting a certificate for a partnership?? Regardless of how "COMPLEX" the system wants to make it SEEM. Reality is the average man is capable of handling all the so called searching, to reservation to follow ups as you indicated up there. Sure one can use lawyers but the fact remains it does not have to cost that much. |
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thunder74 (m)
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Everyone knows that paracetamol is for pain relief and headache and anyone can buy it from any chemist or even on the road but there are some drugs that you can not prescribe for yourself unless you are a doctor or consult one. Anyway if you are interested in in getting legal advise, consult a lawyer near you but don't forget that it took lawyers to 5 to 7 years to get to where they are and what they do now, afterall man must eat. That is their job
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Seun (m)
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I don't think lawyers spend 5-7 years in school in order to learn how to do what any computer can do.
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Mustay (m)
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for private companies
10,000naira
for public companies
500,000
all other costs are indirect costs determind by those you 'appoint'
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thunder74 (m)
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Now I see why many clients lost their matters in Courts, even when they have good cases or when everything should have worked in their favour; the reason is that many consult quacks or are led by "I too Know syndroms" whereby they mortgage their future, the worst when it is a criminal matter. Incorporation though is a small matter compare to what lawyers do, all lawyers are qualified to incorporate companies but not all that can incorporate companies as your LLB and BL is not enough until you pay to get accredited by CAC before you could be allowed to incorporate, very simple but technical. Though a non lawyer can register busines name but advisable to meet somebody trained in the act to do the job for you. Wait! my people don't you want lawyers to eat? Seun, I know that we are in Computer age where computer can do almost everything but still waiting till when computer will handle matters in court, I pray we get to that era on time. Please let lawyer "chop". If one lawyer billed you too high, why not move to the next door at least we have over 50,000 lawyers in this country. Wait please if you don't patronise them we will continue to have more of "Igbosere lawyers".
NB
All of you reading this should Please send your contact addresses to me so as to send my bills to you, afterall legal advise is not free, abi?
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auwal87 (m)
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The Corporate Affairs Commission is located in Unity Road, Off Ibrahim Taiwo Road, Kano. (I know you know),
I made my on 20 Million Share Capital @ 35K, I dnt know if they increase the price, but I know its not so much expensive,
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omogidi234 (m)
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well as far as incorporation is concerned if you are not a lawyer or accountant you cannot register a LLC (Limited Liability Company). So whatever info anybody gives you is at best a theory. Coz u will need an acrreditation number.
Don't worry I can do it for you for one week(putting in mind one day incoporation at the CAC Abuja which is 50k)- just prepare a fee of 250k and you will have your cert in 5 working days.
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omogidi234 (m)
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Seun, please watch the way you handle issues that relate to lawyers, I have read one or two of your comments in one or two threads in relation to LP they are not too fantastic. You are highly respected, don't bring yourself lo. ok. Meanwhile, there is no law in this country that bars professional from charging anyhow, that is why we call it profesional fee. If an accountant charges 2m for an audit job and you are not pleased with that you can go to another who will charge 1m or 500k. So also a lawyer. Professional fee is dependent upon the personality. After all OBJ paid 250m to a SAN for the same services(incoporation). Abi I lie?
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VESTA
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Period !
I love your reply - no side talks.
Meanwhile, the CAC site is open to all.
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femi_ko (m)
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how much does it cost to register a Limited company
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thunder74 (m)
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For Femi _ko: The amount you pay for incorporation depends on the person handling it for you, the number of share capital and how urgent you want it registered. But the minimum I charge is 80k for 1m share capital for private Company. If you want further discussion on this please call 08023978040, 08032057023, 08053050551, 018169791. or mail me at tunde_y2k1@yahoo.com. |
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omogidi234 (m)
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@ [b]Femi_ko you have heard the true gist from Thunder74, incorporation depends on a lot of factors i.e. who is doing it, share capital and when you want your certificate. The procedure is as follows: 1. You submit names for availaility search, it takes like 2-4 days to get it approved depending on whether or not CAC system is functioning properlly. There is however a faster means which is online i.e. submitting the names through the internet from the comfort of your home and getting result within 24hrs. (you are advised to drop more than one name and they must be generic). 2. the CAC forms are prepared for your signature. 3. The MEMART is prepared, stamped based on the share capital. 4. The documents are submitted at CAC. 5. You have your certificate. the following may be useful: fee to incorprate within 1 week (5 working days from the date of approval of the name)= N250,000 fee to incorprate within 2 weeks (10 working days from the date of approval of the name)= N200,000 fee to incorprate within 3 weeks (15 working days from the date of approval of the name)= N150,000 fee to incorprate within 4 week (20 working days from the date of approval of the name)= N100,000 if you are comfortable with my figures please do not hesitate to get in touch with me at arinnet08@gmail.com or kleandenation@yahoo.ca |
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omogidi234 (m)
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@ [b]Femi_ko you have heard the true gist from Thunder74, incorporation depends on a lot of factors i.e. who is doing it, share capital and when you want your certificate. The procedure is as follows: 1. You submit names for availaility search, it takes like 2-4 days to get it approved depending on whether or not CAC system is functioning properlly. There is however a faster means which is online i.e. submitting the names through the internet from the comfort of your home and getting result within 24hrs. (you are advised to drop more than one name and they must be generic). 2. the CAC forms are prepared for your signature. 3. The MEMART is prepared, stamped based on the share capital. 4. The documents are submitted at CAC. 5. You have your certificate. the following may be useful: fee to incorprate within 1 week (5 working days from the date of approval of the name)= N250,000 fee to incorprate within 2 weeks (10 working days from the date of approval of the name)= N200,000 fee to incorprate within 3 weeks (15 working days from the date of approval of the name)= N150,000 fee to incorprate within 4 week (20 working days from the date of approval of the name)= N100,000 if you are comfortable with my figures please do not hesitate to get in touch with me at arinnet08@gmail.com or kleandenation@yahoo.caQED |
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Kobojunkie
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Man, those numbers are seriously high.
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omogidi234 (m)
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Man, those numbers are seriously high.
I don't think so. It is about choice, professional fees vary from lawyers to lawyers as well as from firm to firm. Thanks. |
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Kobojunkie
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Well, compared to what I have paid myself, I mean check out www.legalzoom.com and see first hand |
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omogidi234 (m)
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Please permit me to say that US jurisdiction is completely different from ours and by extension fees from both juris can't be compared not even Ghana our next door Neighbour.
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Rlst84sale (m)
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Our own Naija people never cease to amaze you, what are we turning the topic to?. If you know how people here can get help to get their business up share it not starting an arguement. This is not directing my response at anyone in particular please share good info if you have any if not zip it. Most of the people here have little caiptal to start with in the first place why discourage or make life difficult for them?. For every way there is a less expensive and legitimate alternative if you know it please share it.
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Rlst84sale (m)
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@1Coolman, Kobojunkie
Thank you guys, you indeed are kool fellows, This is the most useful information so far on this topic. Please how current are the fees?. Thank you a lot guys.
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Rlst84sale (m)
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Does anyone know, when you incorporate your business in any state capital (say Lagos or Portharcourt) in Nigeria do they have a timely turn around response as when you file it in Abuja or do you have to go to Abuja to file it?. How long does it normally take when you file it in a state and when you file it in Abuja? If anyone have information on this please let us know. Thank you.
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