The Corporate Affairs Commission has taken company registration to the next level. The new online registration system has greatly improved efficiency such that a week is more than enough to register a business name or limited company.
Here is how you can now incorporate your company by yourself using the CAC online service:
1: Do a Name Search/Reservation
Name search/reservation can be done the same day. From my experience with it, most requests done before 1pm are usually processed the same day. (This used to take 1-2 weeks in most state offices).
2: Pay Your Stamp Duties
Stamp Duties now has an instant electronic online portal that is integrated with the CAC portal. You pay with your ATM card and the next click you are downloading your stamped documents and an e-receipt sent straight to your email address. (This was usually 3-4 days; thanks to CAC/FIRS collaboration).
3: Download The Forms
You download and sign your forms (you will need a notary public or commissioner of oaths), then upload them again. Usually, you will get a response the same day you upload them for your RC or BN number, if you did everything right. Your business in registered!
4: Go And Collect Your Certificate and CTCs
Go to the office you selected as your collection point with originals of your signed documents and other things you uploaded and collect your certificate and CTCs. (No specific timeline for this one but a few days would appear reasonable).
It is stated by CAMA 1990 (as Amended) that the secretary of a company should be a lawyer, chartered accountant or chartered secretary.
Business Names (with BN number) do not require stamp duties.
Incorporated trustees need a notice published on Nigerian newspapers for some weeks
Visit http://cac.gov.ng for more information.
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