emmykk:
What is the cost of registering a Ltd company.?

As specify by CAC

foxychev:


The type of company and share capitalisation determines the total cost. Can you specify the type of company you want to register?
Check my signature for contact.

emmykk:



1million share capital.

foxychev:

You need an agent. 08188887911.

emmykk:




This is the problem with you guys here in nairaland always needing money.you post an information.judt a little question i should call an agent.


dont worry i will visit portharcourt CAC office today to ask...Oh..all the prices are in thier website..i dont think i need you.


i will visit CAC all the same.

foxychev:


Who wants your money? Visit that office and do your registration. Come back to tell us here if you did not employ the services of an agent to register a limited company.
This thread is to inform those who want to make a decision, costs are only given by CAC and its agents.

emmykk:


CAC accredited agent good morning so because i want to make a decision i should be explioted? Any bye

foxychev:


Kindly go to CAC and see if they tell you something different. You want a company registration, go through an agent. You want a Business Name, register it yourself!
That is the policy. You're in the wrong place to be asking for prices, the CAC website is open to all. If you can't visit CAC then visit an agent to advise you. What is the exploitation in that?
Ask any other question and you will get a straight answer if it's relevant.

emmykk:




This is the problem with you guys here in nairaland always needing money.you post an information.judt a little question i should call an agent.


dont worry i will visit portharcourt CAC office today to ask...Oh..all the prices are in thier website..i dont think i need you.


i will visit CAC all the same.

foxychev:
Business Name vs Limited Company - Which should you register?

This is a question everybody asks when they want to register with Corporate Affairs Commission (CAC). It is not a tough decision to make if you know exactly what you want. Let's go straight to the point.
By implication, A Business Name is considered a personal small business for micro investments. CAC assigns BN numbers to them on registration. A Limited Company is considered any business that is ready to be accountable to all its stakeholders (owners, clients, workers, government, general public, etc.), and that which has clearly defined organizational structures; CAC assigns RC numbers to them on registration.
First, some kind of businesses don't have a choice, the regulatory bodies have given the accepted registration types:
* Professional consultants, E.g. accountants, lawyers, etc are required to use Business Names for their professional practices.
* Businesses in aviation and shipping industries, construction companies, oil and gas companies, media companies and other businesses that involve huge amount of money transactions must register as limited companies with large very share capital.

Second, if you do not belong to the first category then you can make your choice:
* A business name is good when you want to be the sole owner. For a limited company you need at least one other co-owner, even if you have to allot your shares in ratio 99% to 1%.
* If your clients will be mainly individuals and small businesses,a business name will be okay. But if you will be dealing with established companies, register a Limited Company because they always perefer that.
* If the value of individual transactions are not big (less than N1m, as a rule of thumb), a Business Name might be sufficient. But if you will be having transactions of large amounts, register a Limited Company - your clients need to have an assurance that you are for real.
* For a Business name, personal income tax is applicable (which is relatively lower). Companies income tax apply to a Limited Company (Only 30% of Profits, after capital allowances have been granted). Other taxes apply to both types but don't be scared, taxes are not often as high as you think, and taxes don't kill!
* You will likely spend about one third of the amount you will use to register a limited company for a business name.
* If you intend to expand your business in the future, register a Limited Company. You will still pay the same fees to upgrade from a business name, it's like begin again.
* Registering a Limited Company will better secure your brand name. CAC can still reserve names for limited companies if a business name is registered with a very similar one, but a name cannot be reserved for any type of registration if a limited company has taken the similar one.
* There is a general perception that limited companies have better structures and accountability, therefore government/international loans/grants providers prefer them, and usually entrust larger amounts to them than business names.
* Except for professional services, a limited company can stand anywhere a Business Name does, but not vice-versa. A Business Name cannot conduct business everywhere a Limited Company can.
* When bidding for contracts, whether small or large amounts, whether government of private contracts, Limited companies get the upper hand than Business Names.
* It does not mean Business Names are always at a disadvantage, they could out-compete limited companies when the client is solely concerned about the cost; because they are known and expected to generally bid lower for jobs.

Limited Companies have a general preference over Business Names in Nigeria.
If your intentions is to do a small business with no intention of upgrading in the future, you can go for a Business Name. Any other desire apart from that, register a Limited Company once and for all.

Drop your questions.