Are you searching for a well detailed information on how to register your company in Nigeria? Well, numerous new business owners do face this problem of getting their company registered.
Irrespective of the business or company location, many startup entrepreneurs often find themselves fixed up especially in issue relating to the company registration processes and where and when to get started.
The following steps are the sure way to get your company registered in Nigeria with little or no help from anyone.
Step #1:- Search for Available Name
The first thing to do before your company can be registered in Nigeria is to look out for the available company name. The rationale behind this is to see if the name you intend to use for the company registration is available.
However, this can be done in two ways; either through a free public search across the CAC website or you conduct a simple free search on http://publicsearch.cac.gov.ng/comsearch/
After you’ve picked a name that’s not in use by anyone, then you proceed to the CAC online gateway to officially confirm the name. A sum of N500 will be required if your chosen company name is available, and you have the opportunity to reserve it for two months (60 days to be precise).
It is very important to pick a company name that can be distinguished greatly with two options – at least. Refrain from generic names that are in use already in other not to waste your time.
In the same vein, names that contain words such as the “Federal”, “State”, “National”, “Regional”, “Group”, “Holding”, “Government”, “Chamber of commerce”, Chartered”, or “Building Society” is prohibited from being used.
Names that are offensive, deceive, vague, undesirable or in consistency with the public policy are also not allowed. Plus, a company name that would violate any existing trademark or tally with any registered company name in Nigeria without the notice of the business name owner are also prohibited.
Step #2: – Get the Shareholder Details Registered
If it’s a private company, it must have a minimum of 2 members and maximum of 50 by the virtue of the Nigerian law who are aged above 18 years with the founding members inclusive.
The shareholder information to be included are the occupation, residential address, mobile number and email address couple with any recognized identity document like the driver’s license, national identity card, voter’s card, international passport and host of others.
Step #3: – Documentation
To register your company name there are some documentations you are required by law to tender, among them are Memorandum and some certain Articles of Association; particulars, consent and the list of the company’s first Directors, and a compliance agreement or statement by legal practitioners.
Step #4:- Make Payment, Submit, and Pick up Your Certificate
Having followed the above steps duly, you will be required to make some certain payment in lieu of the company name registration. After all the significant payments have been made online (it varies greatly on the share capital of the intended company), then you are free to upload all the needed documents and the submission will be completed.
If you really want to start a business in Nigeria, registering the company name should be the number one priority before anything else. In fact, for your company to be shielded and seen as a legal entity, you just need to follow the above simple steps and boom, your company is registered!