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How C.A.C Business Formation Incorporation Nigeria

How C.A.C Business Formation Incorporation Nigeria

How C.A.C Business Formation Incorporation Nigeria – are issues relating to types of companies in Nigeria, how to register company or enterprise in Nigeria, CAC registration form, how to check if a company is registered in Nigeria, minimum share capital for private limited company in Nigeria and obtain company certificate of incorporation  in Nigeria. These re covered in this write-up.  How C.A.C Business Formation Incorporation Nigeria.

Therefore, if you re a start-up in business, existing company that needs one change or the other, this post is for you. It will help you know exactly what and how to go about it. This article  is also benefiting to members of the public, fellow consultants and students of corporate services. Please read on.

How C.A.C Business Formation Incorporation Nigeria

Company Formation/Registration with CAC:

Company formation is  term for  processing of incorporation of  business in Nigeria. It’s also referred to as Company Registration. This is a legal process for legalising such entities. Therefore, the legal responsibility for Company formation, registration , incorporation or even restructuring depends on the type of business entity chosen. The Corporate Affairs Commission (CAC) of Nigeria is an autonomous body charged with  responsibility of regulating  formation and management of business activities, charity organisations, or other activities allowable under Companies and Allied Matters Act, 1990 (CAM) as amended.

Business Entity Company Formation in Nigeria:

As a matter of fact, a business entity is an entity that is formed and administered as per commercial law in order to engage in business activities, charitable work, or other activities allowable. Most times, business entities re formed to sell  product or  service. These could be any of the following:
  • Public Company Limited by shares (Plc)
  • Private Company Limited by share (Ltd)
  • Company without Share Capital
  • Company Limited by Guarantee (Ltd/​Gte)
  • Unlimited Company
  • Private Companies with Foreign Shareholding –  an Overseas Company, Subsidiary or Representative Office

How C.A.C Business Formation Incorporation Nigeria

Criteria for Registration/Incorporation:

(1) Restricted Names:

Worthy of note are restricted names in company incorporation. This means that such names re restricted for public use. Special clarifications re needed for their use.

These re any name that:

  • is identical with or similar to name of a registered company unless the registered company is in the course of dissolution and consents in writing
  • contains the words Chamber of Commerce unless it is a company limited by guarantee
  • would violate  existing trade mark or business name unless with  consent of the trade mark or business name owner
  • would violate any incorporated trustee unless with consent of the trustees ​

How C.A.C Business Formation Incorporation Nigeria

(2) Names Requiring Consent of the  Corporate Affairs Commission:

In addition, re the following names that require CAC consent before they re used. They are names that contain any of the following words:

  • Federal, National, Regional or State Government or suggest patronage of Federal or State Government, Ministry or Department
  • Municipal or Chartered or suggest connection with any municipality or other local authority
  • Co-operative or Building Society
  • Group or Holding
  • any word suggesting temporary business arrangement, e.g. consortium

Consequently, application for Consent for restricted name will be addressed to Registrar-General and submitted at the Head office or through any  State office.

Contact us  for requirements for consent and to make an application.

 

How C.A.C Business Formation Incorporation Nigeria

How C.A.C Business Formation Incorporation Nigeria

(3) Membership of Companies:

You must also adhere to the following ownership/shareholding criteria.

  • Minimum of two persons for all types of Companies
  • Maximum of 50 persons for private Companies
  • No upper limit for public Companies
Now get more information here:

How C.A.C Business Formation Incorporation Nigeria

CAC accredited consultants:

What is it that accredited consultants can do for you?  Contact us immediately for any of these services.

(1) Filing Of Annual Returns For All Entities – Private, Public (Plc), NGOs  Etc.
(2) Change Of Directors, Trustees, Partners, Secretaries Etc.
(10) Replacement Of Lost Documents – Get  Certified True Copy

Click here for more information

How C.A.C Business Formation Incorporation Nigeria

Further Requirements:

Yes – You are required to immediately call contact Complete Full Marks Consultants Limited on +234 8034347851 or  via cfmclimitd@gmail.com for your business needs.
Complete Full Marks Consultants Limited as an accounting, auditing, taxation and business consulting firm that assists clients with business information; incorporate clients companies  and name registration at CAC Nigeria, prepares clients business planstax clearance certificates, and assist clients obtain mining licences.
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How C.A.C Business Formation Incorporation Nigeria

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