Frequent question: How do I register my business in Nigeria?

How do I register a company in Nigeria?

Step-By-Step Process on How to Register Your Company in CAC Nigeria

  1. Get a company name. …
  2. Prepare the MOA. …
  3. Fill the Pre-Registration Form. …
  4. Pay the Stamp Duty and Filling Fee. …
  5. Prepare the Scanned Copy of Your Documents. …
  6. Submit the Original Documents. …
  7. Cost of Setting a Company in Nigeria.

How much does it cost to register a business name in Nigeria?

The CAC official filing fee for the registration of business name in Nigeria is N10,000 (Ten Thousand Naira Only). However, where an accredited agent is engaged by the applicant for such registration, the agent will also charge a professional fee for the services to be rendered.

Can I start a business without registering it in Nigeria?

By law every enterprise in Nigeria is required to be registered and complied with the Corporate Affairs Commission with the relevant provisions of the Companies and Allied Matters Act, Chapter 59, Laws of the Federation of Nigeria 1990. … I do not need to register the business to make it more profitable.”

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How long does it take to register a business name in Nigeria?

The entire process for registering a business name normally takes 1-2 weeks, depending on the workload of the CAC and other factors. You do not need a lawyer to register a business name, however, if you want to register a company, you need the services of a lawyer or other accredited agent.

What is the fee of company registration?

Government fees for company registration

Nominal share capital Registration fees
Rs 10,00,000 to Rs 50,00,000 Rs 2000. Rs.200 will be added for every increase of Rs. 10,000 of nominal share capital.
Rs 50,00,000 to Rs one crore Rs 1,56,000. Rs.100 will be added for every increase of Rs. 10,000 of nominal share capital.

How much does it cost to register a business name in Nigeria 2021?

As a new business, all you have to pay for is the registration of your business name which is ₦10,000.00. Other fees can be paid for as the need arises.

What business can I start 20k?

Here we go.

  • Bedsheet/Beddings Production. Pay a visit to Lagos Island, or Oshodi where they sell bulk materials, pick good designs and I tell you they guys who will sew it for you are just within the same Market. …
  • Popcorn Machine. We all know this guy! …
  • Home Cooking and Delivery. …
  • Home Service Barber.

Can I run a business without registering?

It is entirely legal to operate as a sole proprietorship without registering your company. … You can’t legally use any business name until you have registered it as an officially recognized business entity, both with your local state authorities and with the Internal Revenue Service.

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What are the 3 types of companies?

There are three principal categories of business organizations; that is; sole proprietorship, partnership and a company.

  • Private Company: A private company allows its shareholders to transfer its shares. …
  • Public Company: …
  • Companies Limited by Guarantee: …
  • Companies Limited by Share: …
  • Unlimited Company:

What is the best way to start a business in Nigeria?

To help you successfully launch your start-up in Nigeria; here are some of the steps you need to take:

  1. Develop a business idea. …
  2. Write a business plan. …
  3. Register your business. …
  4. Complete tax registration. …
  5. Obtain necessary licenses and permits. …
  6. Acquire office space. …
  7. Set up a website. …
  8. Develop a marketing plan.

How much does it cost to register a company with CAC in Nigeria?

To start with, the official cost for registering your business/company name with CAC is N15,000.

How do I register my business name for free?

Can I register a business name for free? No. There are filing fee requirements for reserving a business name, forming a company with one, getting a DBA, and filing an amendment. These fees vary by state.

Can I register a business online?

At the Australian Government’s Business Registration website you can register a business name using one online form. The form will also: tell you what information you need to complete your registration. … let you make other business registrations you may need.