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Konnect
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Easiest Way To Register Your Business And Company With Cac From The Comfort Of Your Home
Registering your business with the Corporate Affairs Commission (CAC) in Nigeria has never been easier, thanks to the recent updates to the online registration process. You can now complete the entire process from the comfort of your home in just a few simple steps. Here’s how you can do it:
Step 1: Create an Account on the CAC Portal
The first step is to create an account on the CAC’s online portal. You can do this using your mobile number or National Identification Number (NIN). This account will give you access to the various services offered by the CAC, including business name registration, company incorporation, and more.
Step 2: Choose and Reserve Your Business Name
Choosing the right name for your business is crucial. You’ll need to select two potential names, as this increases the chances that one of them will be available. Once you’ve selected your names, you can check their availability on the CAC portal for free. If your chosen name is available, you can reserve it for 60 days at a fee of ₦500.
Step 3: Fill Out the Pre-Incorporation Form
Once your business name is reserved, you’ll need to fill out the pre-incorporation form on the CAC portal. This form requires detailed information about your business, including the names and details of the directors and shareholders, the business address, and the share capital structure. You’ll also need to upload documents such as valid identification (e.g., National ID card, passport), proof of address, and a business plan.
Step 4: Payment of Fees
After submitting your information, you’ll be required to pay the necessary fees. The cost of registering a business name ranges from ₦20,000 to ₦40,000, depending on the type of business, while registering a limited liability company costs between ₦70,000 and ₦100,000, depending on the share capital. These fees include the cost of name reservation, stamp duty, and filing fees.
Step 5: Upload Required Documents
Next, you will need to upload all the required documents on the CAC portal. This includes the Memorandum of Association (MOA), which outlines the objectives, rules, and regulations of your company, and must be signed by the promoters before a public witness. Other necessary documents include the Notice of Registered Address, particulars of initial directors, and a statement of compliance by a legal practitioner.
Step 6: Submit Your Application
Once you’ve completed the above steps, you can submit your application online. The CAC will then review your application and, if everything is in order, will approve it and issue an electronic certificate of incorporation. This certificate can be downloaded directly from the CAC portal, and it provides official recognition for your business, enabling you to operate legally within Nigeria.
Benefits of Registering Your Business
Registering your business with the CAC offers several advantages. It provides legal protection for your business name, which means that no one else can legally use the same name. Additionally, it increases your credibility with customers and investors, making it easier to access loans and investment opportunities. Furthermore, a registered business can benefit from various government incentives and support programs.
Conclusion
The CAC’s updated online registration process is designed to make it easier than ever to formalize your business. With the ability to complete the entire process online within 24 hours, there’s no excuse not to register your business. Not only does this provide legal protection and credibility, but it also positions your business for growth and success in Nigeria's increasingly competitive market.
By following these simple steps, you can ensure that your business is registered quickly and efficiently, allowing you to focus on what really matters—growing your business.
For more detailed instructions and updates, be sure to visit the official CAC website or consult with a legal professional who specializes in company registration in Nigeria.
