How to register a private (Limited Liability) company in Nigeria.
A private Company, also known as a limited liability company is simple to register; this makes it the most sought after of registered businesses in Nigeria. One of the numerous advantages of registering this type of company is that, shareholders are not personally liable for debts and liabilities of the company.
Register your private company by following the simple steps ;
- Choose 2 names for the proposed company in order of preference.
- Log on to the Corporate Affairs Commission (CAC) portal at cac.gov.ng
- Conduct a search for availability of the name on the CA.C website.
- Reserve the available name by paying reservation fees after which a notice of approval will be sent by the commission.
- Complete the online pre-registration form (CAC 1.1) on the portal.
- Pay filing and stamp duties fees.
- Prepare the following documents to be scanned on to the portal.
i. Names, addresses, phone numbers and email addresses of Shareholders, stating the shareholding percentage for each shareholder.
ii. Name, address, phone number and email address of Company Secretary
iii. Name, addresses, phone numbers and email addresses of Directors (minimum of two directors. Note that to appoint a minor, i.e. a person below 18 years of age as a director, there has to be a minimum of two adult directors).
iv. Proposed Company address.
v. Proposed share capital of the company (minimum of 1million naira is advised).
vi. Means of identification for the directors, shareholders and Company Secretary i.e a copy of international passport, permanent voters card, national id card or driver’s license
vii. Objects of the Company, i.e business the Company proposes to operate
viii. Memorandum and Articles of association of the Company.
ix. Submit the original copies of the scanned documents at the nearest CAC office
Please note that only accredited CAC agents can make an application for this registration on your behalf.
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