Although nigeria ranks 169th in the overall ease of doing business index, it is clearly a disincentive, to prospective investors interested in land acquisition deals. Documents required for private limited company registration. Doing business doing business r top law firm in nigeria. Nov 01, 2017 preregistration requirements registering a company in nigeria might not be straight forward as in other countries.
Corporate societies, cultural associations, nonprofits, political parties, professional associations, social clubs, trade unions and women group are forms of an association. How to register and start an ngo in nigeria step by step. Sierra leone company setup requirements, considerations. The only appropriate entity for a group incorporation is a private limited company ltd aka llc. Steps to registering a company limited by shares in ghana step 1 company name search at rgd. Company registration nigeria quick and simple online. Acquiring the rights to property and proving those rights in the eyes of the nigerian court system is difficult. Companies making millions in revenue in nigeria operate with this model. Company registration in nigeria business setup worldwide. The registration form requires you to provide certain personal and business information such as 2 passport photographs, stapler, the details of a partner you cannot register alone, add someone else, the partners photographs, your address you can use your home address, telephone number use gsm and local government area and a few other. Corporate affairs commission was established by the companies and allied matters act, which was promulgated in 1990 to regulate the formation and management of. Registering a group of companies in nigeria legalforms.
Cost of registering a business in nigeria business nigeria. Jan 15, 2020 business registration guidelines in nigeria 2020 latest update. The pharmacists council of nigeria pcn is a statutory organ of the federal government of nigeria, set up pursuant to decree 91 of 1992 under the supervision of the federal ministry of health for the purpose of the regulation and control of practice of pharmacy, determining professional standards in pharmacy and securing the establishment and maintenance of registers of pharmacists. Moreover, nigeria has the eight largest oil and gas reserves in the world. Associations are formed to achieve certain goals and objectives. How do i go about registering a company in nigeria sidebrief. It is not news that nigeria is currently faced with a host of security challenges. Established under the companies and allied matters act 1990. The first step to registering a company is to choose three unique names for your company. The only exception to this are statutory corporations created by promulgation of statuteseg corporate affairs commission. Nigeria is ranked 185th out of 189 countries rated globally with respect to the ease of registering properties. There are many benefits and detriments to registering a business name as opposed to an incorporated company, and you can read about it in more detail here.
The requirements are less cumbersome and it is easier to establish. Jun 23, 2016 register a holding company in nigeria. The registration of your business with the corporate affairs commission cac is one of the requirements of doing business with a name other than your personal name in nigeria. Steps to registering a business name in nigeria lawpadi. How to register a money lending business in nigeria. Requirements with respect to the memorandum of a company. If you want to register a money lending business, then you have to study the money lending law in nigeria. Who knows, maybe you will start an online business in nigeria.
A scanned copy of the pan card is a mandatory identity proof, which needs to be submitted for the registration process. Unlike the united states of america where each state has its own company registry and can. What to know when you register a holding company in nigeria. Heres everything you need to know when registering a group of companies in nigeria with the cac. According to nigeria corporate affairs commission cac, the process of registering businesses in the country has been simplified.
To registerincorporate a company, you need to first know what a company is. Corporate societies, cultural associations, nonprofits, political parties, professional associations, social clubs, trade unions and women group are forms of. Subsidiaries of a group must generally be private limited companies ltds. Requirements for company registration in nigeria corporate. A company is a corporation an artificial person created by law. Registering your business in nigeria the procedures. Preregistration requirements registering a company in nigeria might not be straight forward as in other countries. Nowadays, the business registration process can easily be carried out online via cac company online registration portal with the assistance of an accredited lawyer to attest to the requisite incorporation documents. If you have a business, an enterprise in nigeria and you are searching online on how to register your business name, then this post is for you. A private company limited by shares cannot offer its share to the general public as a public company can. C permits you to register your business either as a sole proprietorship, a private limited company, incorporated trustee or unlimited company. Checklist for company registration with cac nigeria this article will show you the basic requirements for company registration in nigeria. Stage 1 apply to the magistrate court with the following documents.
A registered business name is one of the 3 general company structures which an individual can register in nigeria, the other 2 are incorporated companies and incorporated trustees. It is either from insurgency in the north east, kidnapping in the south south and south east to bank robberies in the south west. The company has something called corporate personality. Where a corporate body is a subscriber or nominates a. As you can see there, you need a separate license to offer money loans. Now you know how to register a company in nigeria with cac. Nigeria company registration the best in the world. How to register a company in nigeria do you have a business or want to establish one. Nigeria is located in west africa on the gulf of guinea.
A company is a corporate structure with separate legal personality status. Business registration guidelines in nigeria 2020 latest update. Hence, in case of any changes required the change of spelling, surname change after marriage. A unique company name enter it into our name search box at the top of the page to see if its available to register. Before we get started, it is important to note that organisations in nigeria are generally. Please note that you will need an accredited consultant registered under corporate affairs commission cac to be able to successfully register your company.
Nipex nnpc registration requirements as a new vendor. Registering a holding company does not differ greatly than ltd registration. Company registration in nigeria register a company in. Consider registering your business name today with the nigerian corporate affairs commission. The official fees for registering a business name in nigeria is n10,000. Registering your company in nigeria should be the first step take if you want to start a business in nigeria. A company is a type of corporate structure whereby the legal status of the business is separated from the proprietorpromoter of the business. The process of receiving such a permit involves three stages, each with a number of steps. The agency in charge of business name registration in nigeria is the corporate affairs commission cac.
In this post i will show you how to register a company in nigeria starting from business name search, documents needed and fees. Nipex nigerian petroleum exchange is an electronic onestop transaction centre that improves on value procurement in the oil and gas industry and institutionalize worldclass contracting processes in nigeria. Registering a company is not a very complicated process, but it certainly takes a lot of money and time. So, you want register a holding company in nigeria.
Consequences of default in complying with conditions constituting a private company. To form a limited company in the nigeria, you should have the following details to hand. The name on the pan card will be used in all other matters relating to the company as well as the registration process. Cost of registering a business in nigeria by foxychevm. Company registration in nigeria may be carried out as per the following steps. The law guiding the company formation in nigeria is the companies and allied matters act, cama laws of the federation of nigeria 2004. Nigeria is the most populous country in africa and the seventh most populous country in the world, with 184 million people. The act is the guidelines for the formation of any types of companies in nigeria and other ancillary matters. The final stage is submission of the completed application in three copies to the corporate affairs commission. Application letter formal 2 copies of applicants constitution. The first step required from every person or entity doing business in nigeria is registering a company in nigeria. Starting a business in nigeria is particularly rewarding for sectors such as manufacturing, finance, technology and service.
The body charged with responsibility to accept applications to register companies and to maintain a register of companies in nigeria is the corporate affairs commission the applicable law under which it carries. However, the corporate affairs commission cac is constantly working on improving the services every day. Registering your business in nigeria procedures this information was collected as part of our contribution in empowering nigerian to registrar and operation their business in nigeria. Company promoters may after the name search apply to have their business name reserved for a period of 30 days. A public company is a company other than a private company and whose memorandum of association states that it is a public company. Conduct your company name search in ghana to ensure the availability of the proposed business name for the company.
When submitting the completed application form at the corporate affairs commission, you must go with the following. Youre on your way to becoming a true nigerian mogul. A company thus has legal rights and obligations in the same way that a natural person does. Are you interested in registering your business name in nigeria. We hope that this article will prepare you for registering your company. Bo country guide nigeria stolen asset recovery initiative. Companies and partnerships compared a a company can be created only by certain prescribed methods most. Nigeria is one of the best african countries for investment.
How to register a company in nigeria guidelines online dailys. This is because it is one of the fastestgrowing economies in africa. Requirements for registering a company in nigeria corporate. Then a name search will be conducted by the cac and if one of your chosen names is found suitable and unregistered, it will be assigned to you. The process of registering a business in nigeria through the corporate affairs commission cac usually take days, but the commission hopes to reduce the time spent to register a company in nigeria to 24 hours by december 2018. Registering a company in nigeria is timeconsuming, requiring an average of 5 weeks to complete. Feb 19, 20 registering your business in nigeria procedures this information was collected as part of our contribution in empowering nigerian to registrar and operation their business in nigeria. Following are a few reasons why registering a company in nigeria is a smart business decision. Decide upon a name for the company, and check for its availability with the corporate affairs commission cac. Below is a detailed summary of the bureaucratic and legal hurdles faced by entrepreneurs wishing to incorporate and register a new firm in nigeria this. Other issues covered by the regulation include electronic filing of documents, standardization of memorandum and. This is excluding the n500 which you would pay for the business name search and reservation and the business name application form which costs n250.
This article will guide you on how to do that successfully. What is the definition of legal ownership in nigeria. This tutorial will show you everything you need to know about registering a company in nigeria. How to register an association in nigeria in minutes.
The available corporate vehicle used by entrepreneurs in sierra leone is the limited liability company ltd. How to register a limited liability company in nigeria. Pricing and features of registering a nigerian company. Nigeria has one of the worlds least efficient property registration systems. Foreign legal entities looking to do business in sierra leone are also permitted to set up permanent establishments in the form of a branch office or a representative office. Requirements for registering a company in nigeria legit. Registered office address the official contact address of a. Ngo stand for non profitable organization that is incorporated trustees. Whilst there are other forms of business organisations in nigeria, this article is specifically concerned with steps in registering a limited liability company. Registered office address the official contact address of a company, which will appear on public record. How to register your business name in nigeria how to register your business name.
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