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Requirements for registration of a private company limited by share with the Nigerian CAC

 To register a private company limited by shares with the Corporate Affairs Commission (CAC) in Nigeria, you will need the following documents and information:

1. Company Name

  • Two proposed names for the company (to check availability and reserve one).

2. Objectives of the Company

  • A clear statement of the business objectives and activities the company will engage in.

3. Share Capital

  • Authorized share capital (minimum is ₦100,000 for private companies, ₦1,000,000 for public companies).
  • Division of shares among shareholders.

4. Shareholders

  • Names, addresses, and email addresses of the shareholders.
  • Number and value of shares to be held by each shareholder.

5. Directors

  • Minimum of two directors is required.
  • Information required for each director:
    • Full name.
    • Residential address.
    • Email address and phone number.
    • Means of identification (National ID, International Passport, Driver’s License, or Voter’s Card).

6. Company Secretary (Optional for Small Companies)

  • Details of the company secretary (if appointed).

7. Registered Office Address

  • A physical address in Nigeria that will serve as the company’s registered office.

8. Memorandum and Articles of Association

  • Memorandum of Association (MOA) outlining the company’s objectives and shareholding structure.
  • Articles of Association (AOA) detailing the internal governance rules.

9. Identification Documents

For all directors, shareholders, and company secretary (if applicable):

  • Scanned copy of valid identification (National ID, International Passport, Driver’s License, or Voter’s Card).

10. Passport Photograph

  • Digital passport photographs of all directors and shareholders.

11. Declaration of Compliance

  • Form CAC 1.1 signed by a legal practitioner confirming compliance with the requirements of the Companies and Allied Matters Act (CAMA).

12. Statutory Forms

  • Completed and signed CAC forms, including:
    • Form CAC 1.1 (Application for registration).

13. Payment of Filing Fees

  • Payment receipt for CAC filing fees and stamp duties.

As of 2024, the costs associated with registering a private company limited by shares with a share capital of ₦1,000,000 in Nigeria are as follows:

1. CAC Registration Fee:

  • For a private company with a share capital of ₦1,000,000 or less, the Corporate Affairs Commission (CAC) charges a registration fee of ₦10,000.
    ICA Nigeria

2. Stamp Duty:

  • The Federal Inland Revenue Service (FIRS) imposes a stamp duty of ₦8,500 for the first ₦1,000,000 of share capital.
    ICA Nigeria

3. Name Reservation Fee:

  • Reserving a company name with the CAC costs ₦500, plus Remita charges of ₦161.25.
    ICA Nigeria

4. Miscellaneous Costs:

  • Additional expenses may include the cost of obtaining and filing necessary forms, which can vary.

In summary, the total government fees for registering a private company with a share capital of ₦1,000,000 are approximately ₦19,161.25, excluding any professional fees or additional services that may be required during the registration process.

Please note that fees are subject to change. It is advisable to consult the official CAC website or contact the CAC directly for the most current information.

14. Tax Identification Number (TIN)

  • TIN will be automatically generated during registration, in collaboration with the Federal Inland Revenue Service (FIRS).

If you need further clarification or assistance with the process, let me know!

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