CAC Registration Fees: All You Need to Know
The Corporate Affairs Commission (CAC) registration fees vary, and costs depend on the type and size of your business.
CAC Registration Fees: All You Need to Know
But here is all you need to know about the CAC registration process and fees:
Step 1: Choose a Business Name and Check for Availability on the CAC website. The name must be unique and relevant to your business. Having a name utterly unrelated to your business will cause misunderstandings and a corresponding loss in business. After confirming availability, move on to step 2 below.
Step 2: Apply to reserve the name you just picked lest someone else has the idea and tries to register. Please do this by creating an account, accessing your dashboard and inputting your proposed name and another one (making it two proposed names), but only one will be approved. Name reservation costs #700 (non-refundable).
Select the structure of your company- new corporation or sole proprietorship? Sometimes reservations are not approved, so if this is your case, you must register and pay another fee.
Step 3: Complete Your Pre-Registration Depending on your business structure, before registration, you should prepare the necessary registration documents, like your National Identity Number (NIN) and other details like the approved name, nature of the business, full address of the principal place of business, proposed date of commencement, passport-size photographs of the owners, and proficiency certificate (if required).
Step 4: Finally, you can now pay for registering the business name- the fee is ₦10,500, plus ₦1,500 for bank charges, making it a total of ₦12,000.
The payment should be made via CAC’s website or at the bank. Once payment is confirmed, print out the documentation and attach all required documents, including your passport photograph and signature.
Step 5: Upload the necessary documents from the above (plus your ID card) and a signed copy of the pre-registration documents (scanned and uploaded to the website). The documents and registration will be reviewed and approved if you meet all the requirements.
Step 6: You can then get your certificate.
Here are more fees payable as at the time of writing this article:
Services for Business Names
- Reservation of Name: ₦700
- Registration of business name ₦ 10,500.00
- Notice of change of business name ₦ 5,000.00
- Notice of change in business address ₦ 1,000.00
- Notice of change in proprietorship ₦1,000.00
- Annual return fee: ₦ 1,000.00
For private companies:
- Registration of private company with capital of N1million or less – N10,000.00
- Registration of a private company or increase in Share Capital above N1 million and up to N500 million N5,000.00 for every N1 million share capital.
Please note that fees may change over time, and it’s essential to check the official CAC website or contact the CAC directly for the latest fee schedule and specific requirements for your business registration.
