I was wondering what I need to know about incorporating my company. How to go about it, and the price.

I have done some asking around the guys in school but none seems to be fully aware of the details like share capital and all that. All I hear is, "It'll cost you 50k".

Yeah,
I have had the opportunity to register 3 different companies in the past - 1 business name and 2 limited liability companies. As long as it'll be cheaper for you to do it yourself at the CAC office, I'd rather suggest that you talk to someone @ the CAC office who will be of help.

I can help you out with the person who helped me if you so desire. My email address is eolutosin@gmail.com. The lady would be able to put you through on the basis of things you need. The amount you would eventually pay for the Limited Liability Registration depends on your share capital.

When we did our registration then for 1 Million share capital, we ended up paying a total sum of 35k naira. This include the commission for the lady that helped us out. I heard that the cost has changed now, but it should not be more than the 50k. Moreover, you would need to supply the details of the shareholders and directors when registering also.

Take care.

Hello Prosper,

I composed the following response before reading Eolutosin's response above. Take it with a pinch of salt.

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Welcome to Nairaland! The government body in charge of company incorporation is known as the Corporate Affairs Commission (website: www.cac.goc.ng). The Corporate and Allied Matter's Act (1990) also makes good reading (read at nigeria-law.org).

You will get most of the information you're looking for by going through the sites listed above. For example, the official fee for incorporation of a private company with share capital not exceeding =N=1 million is just 10,000 naira, and that this fee is the same regardless of whether your share capital is 100,000 or 999,000 naira. (ref) Lawyers!

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Well at least you can use those websites to confirm whatever eolutosin's contact tells you.

Seun.

Seun, the official fee on the website is not the exact fee paid in reality! I incorporate companies for some clients and i can tell you for free that the ordinary individual cannot register a company himself. Lawyers and chartered secretaries are allowed to do this at the CAC in Abuja. The incorporation fees cover application forms, stamp duties, incorporation documents and filing. Infact some of the fees are not paid at the CAC but at the Federal Inland Revenue Office responsible for stamp duties.

Prosper, you need to provide information about the proposed names and addresses of the company, directors, objects of the company, shareholding, share capital and the type of company to anybody you give the job to. However if you require more information send me a personal message on this forum.

Please I need to get some clearity on this issue. I'd like to register a business name and private company in some months please.

@admin: Still working on your request.

@chimanu2000: I can help you with the business name and private company registration when you are ready because they will require you to provide some information. However, you can send a personal message to discuss the details for confidentiality. Business name registration is not more than ten thousand while the private comapny registration fee will depend on the type of company and share capital.

@delarontus. my sis tells me u have to have a minimum of two board members b4 u can start a company. that means someone who is a one man operation like me cannot start one

Kodewrita, you can operate under a registered business name if you're a one man operation.

That's true. A private company requires a minimum of two members and maximum fifty.

very accurate information delarontus

Why does Nigeria make it so hard to register and company. The expense is too much. And why aren't the states allowed to register companies. Why is it only the feds. I guess i have to ask my nigerian lawyer friends

Why does Nigeria make it so hard to register and company

Because we are a third world country and things have to be made hard so we can remain as third worlders

And why aren't the states allowed to register companies.

The Nigerian system is set up as a command and control economy/govt. with everything happening from the center. Every official expects to be told what to do from a mysterious central command and even Perm Secs and Ministers turn around and say, 'We have not been told what to do yet'..

The states are mere legal structures for spending money and not to carry out any meanigfull admin purpose.

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In general, I have found out that paying a fee for this type of task (i.e. hiring a lawyer to do it) is cheaper that doing it for free

You get what you pay for and the free help may come with lots of undocumented payments.

I wonder how one is supposed to choose a lawyer.

Tosin,

could you please link me with the lady that helped you at the CAC. I have been trying to access the compose page on Yahoo Mail, but it has not opened up yet. My email addressis austinedu1@yahoo.com.

Thanks

Austine

Can anyone in the house help with company registration. I need to incorporate my company and I would appreciate some cost reduction

frankiriri, you can contact me via my email (austinedu1@yahoo.com) so that I can help you with your company registration.

Austine

Please i urgently need so,eone who can help register a limited liability company for our team. We need it urgently. My email address is same410@gmail.com

Me too. I need someone to get it done for me fast. majormediainc@gmail.com

I found this http://www.cac.gov.ng/Pages/fee1.htm and this http://www.doingbusiness.org/ExploreTopics/StartingBusiness/CaseStudy.aspx?economyid=143 , it looks ever so complicated

ok people, i want to register an entertainment company. i dont know if i just need to get a company name or actually set up a limited liablity company, if anyone can help pls mail me on imranhay@hotmail.com. I am willing to pay for this service, just need it done as soon as possible

@austinedu,

How much do you charge?

abujabooks:

@austinedu,

How much do you charge?

Abujabooks: i have seen ur comments/? on one or two threads regarding registration of company. Pls note that there are dubious pple going around all in the name of registration. Locate the person's office, ask for a copy of such jobs that they have done. Sometimes, the amount charged depends on the share capital and the share capital also depends on the nature of business. For example u will require 10m share capital for a business like transportation, oil and gas, methanol etc while 1m share capital would be ok for a marketing coy. if you require more info pls holla me at kleandenation at yahoo dot ca. Thanks.

@delarontus. Pls i want to register my company. can you help me. thanks

I've applied & registered with new massive Coy to be one of their Contractors in building branches & other offices all over Nigeria. However i'm yet to register a company.i've 3 months grace period to register a company to this eFfect. pls can a proffessional put me thru a step by step procedeur on wat to do or go about it, the requirements & finance involved. Thanx

shimfe:

I've applied & registered with new massive Coy to be one of their Contractors in building branches & other offices all over Nigeria. However i'm yet to register a company.i've 3 months grace period to register a company to this eFfect. please can a proffessional put me through a step by step procedeur on what to do or go about it, the requirements & finance involved. Thanx

Hi, there is no hard and fast rule. Contact a professional, give him/her ur desired name(s) which would be submitted to the CAC. If the name (s) is approved, the next level would be preparation of memo and article, stamping of memo at the stamp duty office and subsequently submission at the CAC for registration. For more you can holla me at kleandenation@yahoo.ca

shimfe:

I've applied & registered with new massive Coy to be one of their Contractors in building branches & other offices all over Nigeria. However i'm yet to register a company.i've 3 months grace period to register a company to this eFfect. please can a proffessional put me through a step by step procedeur on what to do or go about it, the requirements & finance involved. Thanx

Hi, there is no hard and fast rule. Contact a professional, give him/her ur desired name(s) which would be submitted to the CAC. If the name (s) is approved, the next level would be preparation of memo and article, stamping of memo at the stamp duty office and subsequently submission at the CAC for registration. For more you can  holla me at kleandenation@yahoo.ca

i registered a coy resently and it cost me 55k with1m share cap.

Poke, can you email me the contact you used for your incorporation. I want to incorporate a company,  My email is ukoparah@yahoo.com

Thanks

Please am planing to incoporate an NGO soon,i need details for registration and procedure.

My contact is:david.omotosho@gmail.com

what stupid website, thot they said one can apply and get his/her company regsitered in 48hrs, i can't figure where to go on there rubbish website abeg, can someone please help out? do we have to go tru d back door all the time? afterall we all condemn corruption but embrace it codely(knowingly or otherwise), hypocrites innit?

I am looking forwarding to registering a limited liability company, i need someone to help me in the procurement, pls kindly email me at tworldforex@yahoo.com.

Hello There !!!

Please i'd like to know the difference between a just a business name and a private limited liability company.
I intend to register my business as a private limited liability company with two owners this week but i feel a business name will be enough!

Thanks !!!