A Background In No-Fuss Secrets In company formation in Nigeria
HOW TO REGISTER A COMPANY
Company registration is often done in Nigeria from the government agency accountable for the registration called the Corporate Affairs Commission (CAC). The law governing the registration of company in Nigeria is referred to as the Companies and Allied Matters Act(CAMA), LFN 2004.
To begin with the business registration process in Nigeria, you must for starters hunt for the proposed company through the CAC. An availability search application will be made to the CAC. If the specific proposed company is not in conflict with any existing company name, such name maybe available registration for that applicant.
The next step is to accomplish the electronic form 1.1 over the CAC’s portal. The form contains the particulars and specifics of the company’s shareholders along with the first directors in the company. The specifics of the company secretary and attestation by way of a legal practitioner should also be completed.
The applicant will also submit its Memorandum and Articles of Association electronically.
The next step as soon as the completing the design may be the payment in the prescribed fees and stamp duty online. And it is after such payment make fish an electronically stamped form can b printed online from the CAC’s portal.
However, you will need to emphasize that under the Nigerian law, specifically the CAMA, every company must be composed of a minimum of members or shareholders and also two directors. The same two shareholders may also be doubled like a director.
By and large, the review of steps and requirements for a company registration in Nigeria are listed below:
1. The first applicant is usually to choose two suitable proposed names to the company. After achieving this, an availability check will probably be conducted on the CAC online portal to find out if some of the chosen names can be purchased instead of already being used.
2. The applicant must state the objectives and business with the company will undertake.
3. The applicant must give you a registered principal address for that new company.
4. The applicant must give specifics of the way the shares in the company will be divided between your shareholders.
5. The how to go about no less than two (2) Directors will probably be required. A copy of these ways of identification for example drivers' license or international passport should be provided
6. The applicant must provide the particulars of the company secretary (one of the directors may also act as the Secretary of the company)
7. The applicant will likely be needed to provide details of the shareholders in the company. Such details include names, occupation, residential address, email address, cellphone number and means of identification like driver's license, international passport or national identity card. The shareholders maybe a similar persons as directors in the company.
8. The Memorandum and Articles of association of the company to become registered should be provided. The CAC has provided a generic MEMART, which any new company can be adopted online. A company may ask its legal practitioner to draft a unique MEMART.
In conclusion, the task for company registration has become simplified with the CAC through partial electronic registration. Consequently, a registration of an company might be completed within less than six working days
Company registration is often done in Nigeria from the government agency accountable for the registration called the Corporate Affairs Commission (CAC). The law governing the registration of company in Nigeria is referred to as the Companies and Allied Matters Act(CAMA), LFN 2004.
To begin with the business registration process in Nigeria, you must for starters hunt for the proposed company through the CAC. An availability search application will be made to the CAC. If the specific proposed company is not in conflict with any existing company name, such name maybe available registration for that applicant.
The next step is to accomplish the electronic form 1.1 over the CAC’s portal. The form contains the particulars and specifics of the company’s shareholders along with the first directors in the company. The specifics of the company secretary and attestation by way of a legal practitioner should also be completed.
The applicant will also submit its Memorandum and Articles of Association electronically.
The next step as soon as the completing the design may be the payment in the prescribed fees and stamp duty online. And it is after such payment make fish an electronically stamped form can b printed online from the CAC’s portal.
However, you will need to emphasize that under the Nigerian law, specifically the CAMA, every company must be composed of a minimum of members or shareholders and also two directors. The same two shareholders may also be doubled like a director.
By and large, the review of steps and requirements for a company registration in Nigeria are listed below:
1. The first applicant is usually to choose two suitable proposed names to the company. After achieving this, an availability check will probably be conducted on the CAC online portal to find out if some of the chosen names can be purchased instead of already being used.
2. The applicant must state the objectives and business with the company will undertake.
3. The applicant must give you a registered principal address for that new company.
4. The applicant must give specifics of the way the shares in the company will be divided between your shareholders.
5. The how to go about no less than two (2) Directors will probably be required. A copy of these ways of identification for example drivers' license or international passport should be provided
6. The applicant must provide the particulars of the company secretary (one of the directors may also act as the Secretary of the company)
7. The applicant will likely be needed to provide details of the shareholders in the company. Such details include names, occupation, residential address, email address, cellphone number and means of identification like driver's license, international passport or national identity card. The shareholders maybe a similar persons as directors in the company.
8. The Memorandum and Articles of association of the company to become registered should be provided. The CAC has provided a generic MEMART, which any new company can be adopted online. A company may ask its legal practitioner to draft a unique MEMART.
In conclusion, the task for company registration has become simplified with the CAC through partial electronic registration. Consequently, a registration of an company might be completed within less than six working days
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