How to register your company with CAC

How to register your company with CAC

INTRODUCTION

It is said that knowledge is power and those who love learning have proved this to be true. It is therefore vital that you as a Nigerian small business owner have the most current information about issues affecting your business and the SME space. Did you know that you can register your business and company online through the Corporate Affairs Commission (CAC)?

The message below was stated boldly on the CAC website;

“The general public is hereby informed that Companies, Business Names, and Incorporated Trustees may now apply to the Commission for the creation of Electronic Accounts for their Entities.”….

If you didn’t know, now you do.

Registering a company simply means telling the government that you exist and that your business name is yours and in so doing you can be regarded as a legal entity. Talking about information, a business’ name is not the exact same as a company. But that’s another topic for discussion.  For now, let’s discuss how to register your company name online.

How to register your company with CAC

1. Create account through the e-Registration portal using this link https://pre.cac.gov.ng/register/new

Before you can register your business, you must first create an account with CAC. Create an account and proceed to login here. To start your company registration process, go to the CAC official website on this link https://cac.gov.ng/ and log on to the e-registration portal on this link https://pre.cac.gov.ng/.

2. Search for available company name

To register your company you must first register a unique name that is easily identifiable with your brand and has not yet been allocated to another enterprise. Under the Public Search section, click on Search Now.

If the name you want to use for your company is already taken, you will need to find another one. But if name is available, proceed to the next stage.

3. Reserve company name

Reserve your preferred company name on this link https://pre.cac.gov.ng/name-reservation/new-application. Fill in the required information, including company type (private company limited by shares, public corporation etc.), proposed company name and objectives. Once you’ve completed each column, you can then proceed to paying a fee of N500.

Within 24 hours, you should receive a response from CAC regarding the status of the application. An approval note with a code for name availability will be sent to you if your business name reservation is approved.

4. Register your company

To continue the company registration process, enter your company name availability code in the box provided.

After the code has been verified, you can proceed to the Registration Form CAC1.1 and fill in the necessary information. For particulars of your company, details you have to fill include; the nature of the principal business your company will be engaged in, company email address and registered office address.

To find out more about shareholders and directors of companies, enter personal data such as name, date of birth, gender, phone number, means of identification as well as percentage of shares to be held.

These details are also required for the company secretary (individual and corporate). To complete section E, which is the statutory declaration of compliance to CAMA requirements, you will need to hire the services of a legal practitioner. Legal support may also be needed to draft Articles of Association.

Once you have completed the form, you will need to pay the CAC registration fee (which is dependent on the type of company) and stamp duty. You will then need to scan and upload these documents in PDF format: approval note printout, registration form CAC 1.1, CAC payment receipt, identification of directors and shareholders, stamp duty certificate, memorandum and Articles of Association, and Certificate of Incorporation of the company secretary (if applicable).

After approval by CAC, your company’s Certificate of Incorporation will be uploaded to your account dashboard. You can download it and print it out.

I wish you goodluck.

If you don’t want to go through this process, you can make use of a reputable CAC agent who will handle everything for you from start to finish.

Below are the contact details

GIG MEDIA, Whatsapp: 08028077915

Benefits of Registering Your Business With The CAC

• Legitimacy: By registering your business with the Corporate Affairs Commission of Nigeria, the law recognizes you as a legal entity. This will increase your customers confidence in your business.
• Business Name: By registering your business name with CAC, you guarantee that no other person can use your name anywhere within the country for another business. This means that you have the right to sue if it ever happens.
• Bank Account: If you are registered with the CAC, you can open a corporate account for your company. This allows you to be professional.
• Loans, Grants & Investment: It’s 100% easier for a registered business to apply for and receive loans and grants and even investors. In most cases, you can not apply for grants or loans without being properly registered.
• Special Benefits: Obtaining travel approval for business purposes, such as visa applications, is easier if you are a registered company. Your business can also receive NYSC personnel, among other benefits.

CONCLUSION

As you can see, registering your business with the CAC can be very simple and convenient. If you have been putting off this crucial step in your entrepreneurial journey and are ready to take it now, follow these steps we provided, and be sure to thank us later.