How much does it cost to register for Corporate Affairs Commission (CAC) business name in Nigeria? The Corporate Affairs Commission has simplified the CAC business name registration process in order to encourage participation from prospective entrepreneurs and foreign investors.
Any member of the public, as long as they meet the requirements, can register a CAC account. During the registration process, you will be a director, trustee, or proprietor/partner.
How much does it cost to register a business name?
- The cost of registering a company without a share capital is N20,000.
The first 1 million share capital or less costs N20,000 to register as a public business.
- A private business with an authorized share capital of N1 million or less must register for N10,000.
- For every 1 million shares of a private company with an authorized share capital of more than N500 million, the registration fee is N7,500.
- A private company with a share capital of more than N1 million but less than N500 million must register for N5,000 per million shares.
How to Apply for CAC Business Name in 2022
The following is a step-by-step approach to registering a business name with the Nigerian Corporate Affairs Commission (CAC).
- Choose a business name and see if it’s available.
- To register a business name, fill out the pre-registration form.
- A filing fee must be paid.
- Prepare your documents for uploading.
- Original copies of your documents must be submitted.
Finally, register through CAC website here and attach any necessary documents. Your certificate of incorporation will be uploaded to your account dashboard after completion of the registration and approval by the CAC, where you can easily download and print it.
Note: Individuals/Proprietors can register business names without the assistance of a lawyer, chartered accountant, or Chartered Secretary.
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