How do I register my business 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.

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.

Can I start a business without registering it in Nigeria?

It is legal and lawful to operate business names (some types of business names) and any incorporated trustees (associations, societies, religious institutions, clubs, fora, groups, committees, charities, foundations, not-for-profit organisations and non-governmental organisations) without registering them with or at …

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How much is CAC registration 2021?

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

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

How Much Is Business Name Registration In Nigeria? The cost of registering your business name is #10,000. There will be an additional fee of #500 for business name reservation.

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.

Can I register for CAC online?

The Corporate Affairs Commission (CAC) through its online platform has now made the incorporation of a company easier. An individual can now register a company online with CAC, as long such an individual understands the requirements for the incorporation process.

How long does CAC registration take?

The Corporate Affairs Commission (CAC) has announced the commitment of the commission to register companies within 48 hours, approve names same day and ensure 5-day completion for other post-incorporation services not available electronically.

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.
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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.

How much do you need to start a business in Nigeria?

For a sole proprietorship/business name as it is popularly called, you would need between N12,000 and N15,000 to register your business with the CAC, while other forms of ownership would require at least N30,000 for registration.

Is it illegal to not register your business?

If you start a company without registering it, you will be regarded as a sole trader, even if you do not intend to be one. … In most states, businesses are required to register or obtain a business license before they can operate legally, but this procedure is different from organizing or incorporating a company.

How do I register my CAC for free?

CAC Free Business Name Registration has begun through the www.cac.gov.ng registration portal. Under the MSME Survival Fund, there is SUPPORT FOR ESTABLISHMENT – The Federal Government will provide free CAC business name registration to 250,000 businesses.

Can one person own a company in Nigeria?

On 7 August 2020, a new company legislation was signed into law. By the new Companies and Allied Matters Act 1990, a single person can now start, promote, register and own a private company, by being the sole shareholder and director of his/her private company. …

How much is nafdac registration fee?

The Real Reason Why NAFDAC is Giving MSME 80% Discounts On Registration

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MEDIUM SCALE COSMETICS
REGISTRATION FEE 30000 6450
INSPECTION FEE 30000 6450
TOTAL 62500 13400
SMALL SCALE COSMETICS