If you are doing business in Nigeria or almost anywhere in the world starts with the company registration in Nigeria. Business registration in Nigeria has been made much simpler by Nigeria’s Corporate Affairs Commission or CAC over the years. CAC online company registration has increased greatly the process which a company can be registered in Nigeria and has made it much faster.
Faster and efficient
How to register a company in Nigeria online is so very much efficient and faster as compared to how the former manual process was. Therefore, most payment for company’s registration such CAC filing fees and stamp duty fees cannot be processed now.
There are many different types of company formation now allowed under Nigeria’s company law. So, several people wanting to do businesses in Nigeria, especially for the first time, often want to know how to register their company in Nigeria or how to register a business in Nigeria.
Limited Liability Companies are the most widely used type of business operating in Nigeria Private Limited Liability Companies has some advantages, including perpetual succession, limit liability, separate legal personality among others.
The procedure for registration for foreign company in Nigeria is about the same as the method for domestic company registration for Nigerians except for the legal requirement that a company with foreign participation in Nigeria needs to be capitalized with a minimum of N10 million.
A company is an entity that is legal and required to be duly incorporation. Company registration in Nigeria falls under Companies and Allied Matters Act 2004 (CAMA). Corporate Affairs Commission is the only government agency that is responsible for the incorporation of companies in Nigeria following the provisions of CAMA.
Section 18 of the Companies and Allied Matters states that it takes at least 2 people to create a company. Section 246 of this same Act states that every company that is registered in Nigeria is to have or maintain a minimum of 2 directors.