To register private and public company with CAC in Nigeria, you must first determine the availability of the business name or company you wish to set up.
You must also determine the nature of the business, is it going to be a private company limited by shares, private company limited by guarantee, a public company, or an incorporated trustee?
The practical step to register private and public company with CAC in Nigeria is to conduct a search with the Corporate Affairs Commission (CAC). This search is called ‘name availability search’ as mentioned above and the process typically takes less than 24 hours.
If the name is available, the CAC will issue an approval note. The approved name would be exclusively reserved in applicant’s flavor for a period of sixty days-within which time, any other company proposing to use the name will be barred from doing so on the ground that it is similar or confusing with the already reserved name. But if the name applied for is disapproved, a disapproval note would be issued by the CAC.
How To Register Private and Public Company With CAC
The first process to register private and public company with CAC in Nigeria is to do name availability search. This process is very important since the CAC reserves the right to disapprove name(s) that are capable of misleading as to its nature or extent of its activities, identical with or similar to the name of a registered company or with a trademark or trade name which may likely confuse unsuspecting members of the public, or names that are restricted or prohibited in Nigeria. Follow these steps to register:
- Check for availability of proposed company name (click here)
- Click on name reservation and Submit your Preferred Business Name (click here)
- Complete pre-registration form and upload relevant documents
- Pay filing and Stamp duty fees Check the fees for our Services here
- Now registration is end-to-end on the COMPANY REGISTRATION PORTAL (CRP)
- with electronic Certificate of Registration and Certified Extract of Registration information
Step by Step To Register a Limited by Guarantee
- Reserve a Name (click here)
- Fill Registration Form and upload relevant documents (Online using Company Registration Portal)
- Pay filing fee and Stamp Duty
- The Commission is obliged to obtain approval of the Attorney General of the Federation before registration of the Company Limited by Guarantee.
Steps To Re-register Private Company as Public With CAC
Are you thinking of converting and re-registering your private company as public company? The application should be accompanied by the following:
- Special resolution signed by at least two directors
- Memorandum and Articles of Association as required under CAMA for public companies
- Written statement by the Directors in respect of share capital
- Balance sheet as at the date of the resolution or the preceding six months, whichever is later
- Statement must show that the paid-up capital of the company as at the date of the application is not less than 25 percent of the authorized share capital
- Copy of any prospectus or statement in lieu of prospectus delivered within 12 months to Commission
- Payment of filing fees
- Annual Returns to be filed up to date
- Evidence of S.636 (in case of banks etc)
How To Check Company Registration Status With FIRS
The Federal Inland Revenue Service (FIRS) is the institution saddled with the responsibility of collection and payment of Federal government taxes in Nigeria. After getting the company’s RC Number using the steps above, you can check a company’s TIN and registration status on the FIRS website using the following steps.
- Visit the FIRS Official TIN Verification page by clicking here
- Scroll down to the Search form
- Select CAC Registration number in the search criteria dropdown list
- Enter the CAC Registration Number preceded by the corresponding alphabets (RC for Corporate entities (public/limited liability companies) and BN for Enterprises (Sole proprietorships or partnerships)) in the search value field. E.g RC11111111 or BN1111111. Note the RC Number you get from the CAC website doesn’t bear the prefix letters RC or BN you have to append it.
- Type the correct Captcha Image text and click on the search button
If the Number is correct the name of the company will be displayed with details shown below (remember to scroll down to view results)
Functions Of FIRS In Nigeria?
The Job of the FIRS is to assess, collect and account for tax and other revenues that belong to the Nigerian Government. At the state levels, the FIRS have similar functions at the levels state and local government.
The FIRS is a Government parastatal. They have a lot of power accrued to them. Any company that is registered in Nigeria must have at a point had some indulgence with the FIRS. So to check whether a company is registered, you can use the FIRS online portal.
How To Check Company Registration Status With Joint Tax Board
- Visit the Joint Tax Board TIN Verification page
- On the TIN Registration Search Panel enter company registration date (You can get this from the CAC step above)
- Select Search Criteria (TIN/BVN/Company Registration Number (RCxxxxxx or BNxxxxx) or Registered Phone Number
- Check the “I am not a robot” CAPTCHA box
- Click submit .
If the information is correct the name of the company will be displayed with details shown below (you can also get the details emailed to you).