₦airaland Forum

ELff:
I need a Thesis on O2O transportation platform. This Thesis will cover System Design and Analysis, The design architecture of the platform is similar to Uber or Lyft. The Thesis must include data flow diagrams, system architecture as well as algorithms, workflows data and data gathered.

Please if you know that you cannot, or you are not cool with the price, don't bother to reach out. Thanks.

More specifics please

You just need the remita API.
I'd be pleased to assist you, but I need to know your development framework... PHP? ASP.NET? Python? JSP?

Oh glad its solved.

The best CMS for your job is Joomla combined with YII2 Framework for PHP. Check my signature for contact, and get it up and running.
Programming is my pleasure

Best industries to invest:
Agriculture,
Food,
Bar or club.

People never stop patronizing them, and N1m will do something significant.

Check my signature for company registration matters.

CAC now offers full online services for incorporation. This has reduced registration time to about a week!
If you still need answers to certain questions,

Tell me the need. I'll write it for you.
My number is on my signature for pm.

For starters, budget of 200k can get you one. Lot of discussions need to be done, though.

ultrazone:
What is the procedure for registering a business name now?

For business name, visit CAC website to do name reservation. You will make online payment with your ATM card. Usually within a day you will get notice of approval or denial.
If approved print out the approval notice.
Go to remita.net and generate invoice for registration form for business name. Use the RRR to pay at any bank (advisable not to use online payment for this step and the next).
Go to nearest CAC office and obtain the registration form.
Fill and submit for assessment by designated CAC official at that office. You will then pay the fees and submit again with teller and receipt.
You will be told when to come back for certificate and documents.

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

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.

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

As specify by CAC

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.

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.

Recently, CAC seems to scrutinise names more. It will be helpful if the nature of the business reflects in your proposed name. CAC wants unique names, but with comprehensible meanings.
For instance, "Foxydee Nigeria Ltd" or "Foxydee Consulting Ltd" will have better preference than "Foxydee Ltd" (which seems vague).
Although general business company is still very much allowed, it's always better to consider have some degree of speciality in the name.

Recently, CAC seems to scrutinise names more. It will be helpful if the nature of the business reflects in your proposed name. CAC wants unique names, but with comprehensible meanings.
For instance, "Foxydee Nigeria Ltd" or "Foxydee Consulting Ltd" will have better preference than "Foxydee Ltd" (which seems vague).
Although general business company is still very much allowed, it's always better to consider have some degree of speciality in the name.

Check useful tips for choosing a Business Name here https://www.nairaland.com/3369172/tips-getting-business-name-approved

oluwadanie1:
good evening sir, pls can someone register a business name for now, and after a substantial growth, upgrade it to a limited company?

Sure. That can be done.

Stages of New company incorporation:

Name search/reservation (CAC) - 1 week,
Stamp Duties (FIRS) - 1 week,
Filing of Documents (CAC) - 2 weeks,

The timelines are approximate and may vary largely.

Here is some information concerning share capitalisation for limited companies. You might also find it helpful.
[url] https://www.nairaland.com/3411430/share-capital-company-registration-cac[/url]

SHARE CAPITAL FOR COMPANY REGISTRATION WITH CAC (THE LAYMAN’S POINT OF VIEW)
Share capital is a requirement for registering a Limited Liability Company with CAC. This is not applicable to Business Names (enterprises), non-profit organizations or unlimited companies.
The meaning of Share Capital is the amount of money a company wants to start business with.
Now let’s go to the real point with an illustration.
Suppose you allotted N900k of your company shares to yourself. You have bought furniture, computers and some stationery amounting to N700k; and this has been well documented as your contribution towards the shares you hold (remaining N200k unpaid). Something went wrong due to recession and you ran into losses, making your company to have debts amounting to N1.5m (you are a probably a risk player). Somehow your creditors got angry and went to court to appoint a receiver in order to recover their money (A receiver is someone appointed to fold up your company, but ensure your creditors a paid). Now, let’s assume after selling off all the company’s properties, N1m was used to pay the debts, remaining N500k unpaid out of the total N1.5m owed. The only amount you, as a shareholder, will be mandated to pay up is the N200k balance of your shares. It doesn’t matter if it won’t settle the remaining debt, the N200k is the amount you are liable to pay up, thus the concept of LIMITED LIABILITY. It means (except you are guilty of fraud) the amount you can be asked to pay to settle your company’s debt cannot be more than the value of the shares you own that you have not paid for. Therefore if you did contribute your N900k complete in the beginning, you are no longer liable to pay anything again (there are other legal stuff that is applicable here, though).
For those who are already in business, you can see why some big organizations will ask for your CAC documents and statement of accounts before doing business with you. If your share capital is N1m, a wise organization won’t give you a contract of N100m because if something goes wrong, they might not be able to recover their money from you.
So how much share capital should you start with?
There are actually no rules restricting the maximum amount of share capital you can start with
• CAC charges company registration fees per N1m share capital, so that is why people usually start with N1m. And they calculate bigger ones with the next N1m, and so on…
• If you want to enjoy the benefits of being a SME in Nigeria (Small and Medium Enterprises), keep it N3m and below. Benefits include lower CAC fees, lower tax rates, access to loans with less strict rules, access to government development loans and international grants, etc.
• If your dream is to have a big company with many directors in the future, you can have large amount of share capital and allocate only a proportion to yourself at the start (not less than 25% for the founding directors). For example, if you start with N10m share capital, the founding directors (at least two directors in all cases) should take at least N2.5m worth of shares combined. And at every point in time, at least N2.5m of the shares must be taken. You can take more, and you can take all. But if you want to leave some to incoming shareholders in the future, there is provision for that.
• Usually, unless you have so much money to invest and you want to start big, N1m share capital will do you just fine. And since you can increase it at any time later.
• Consider the industry you want to enter and look at the share capitalization of your competitors.
• Consider the value of transactions you will be carrying out yearly, you should have share capital close to that amount. A financial expert will recommend share capital of over 3 times of your estimated annual sales turnover (this is to minimize business risk though).
• If your projected customers are established big companies, and you intend to get big contracts, have a bigger share capitalization.
• Banks will generally be reluctant to give you loans that your total share capital cannot comfortably cover, especially for start-ups. Consider this if you have it in mind to get a loan.
Ensure to get professional advice always, these are only guided suggestions.
Contributions and questions are welcome.

Okay from personal mails received, I realize many people still need good information about registering a business in Nigeria. Kindly check this thread to learn more...
https://www.nairaland.com/2549756/business-registration-nigeria-demystified

To select a good name for your business that gets CAC approval, check here: [url] https://www.nairaland.com/3369172/tips-getting-business-name-approved[/url]

Check this thread for tips for selecting a business name that gets approved by CAC
https://www.nairaland.com/3369172/tips-getting-business-name-approved

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AustinStevens:
how much does it cost to register and trademark a business name

Check my signature.

dondiggy:
Is it possible to register a business name without physical address, more of online business

You need a physical address. but don't worry, you can simply use your residential address.

willcurt:
Pls those anyone know the cost of registering a company in the CAC?

Your agent will charge you some professional fees. check here
https://www.nairaland.com/2549756/business-registration-nigeria-demystified

ablesolomo:
@OP Please what is the different between a registration number that started with BN and that of RC. e.g BN345678 and RC345678

BN is issued to Business Name enterprises, more like sole proprietorship or partnership business.

RC is issued to limited companies.

sambisa5:
Thanks for this info,,,
please so you work with CAC?,,,,if yes can you help with company registration?...
Waiting for your reply..tnks

Accredited customer. Sure yes. Check out my sign...