How C.A.C Business Formation Incorporation Nigeria
Table of Contents
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:
- 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
(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
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.
- Name Search and Reservation – New Companies, NGOs and Enterprises
- Incorporation – New Companies, Incorporated Trustees – NGOs, Clubs, Churches, Meetings and Associations.
- Registration of Business Name – New Business Names, Enterprises and Partnerships
- Domestication of Foreign Companies – For Old and New Foreign Companies
- Post Incorporation Documentations – Just get the following do here.
Click here for more information
How C.A.C Business Formation Incorporation Nigeria
Further Requirements:
How C.A.C Business Formation Incorporation Nigeria
Deacon Anekperechi Nworgu, a seasoned economist who transitioned into a chartered accountant, auditor, tax practitioner, and business consultant, brings with him a wealth of industry expertise spanning over 37 years.
