Core Criteria For company registration - A Background

HOW TO REGISTER A COMPANY
Company registration is normally completed in Nigeria from the government agency accountable for the registration known as the Corporate Affairs Commission (CAC). The law governing the registration of company in Nigeria is referred to as Companies and Allied Matters Act(CAMA), LFN 2004.

To begin with the organization registration process in Nigeria, one must to start with seek out the name of the proposed company from the CAC. An availability search application will probably be designed to the CAC. If how to register a company in Nigeria of the proposed company is not in conflict with any existing company name, such name maybe restricted to registration for your applicant.

The next step is to perform the electronic form 1.1 through the CAC’s portal. The form has the particulars and details of the company’s shareholders and also the first directors of the company. The specifics of the company secretary and attestation by a legal practitioner also needs to be completed.

The applicant will also submit its Memorandum and Articles of Association electronically.

The next step following your finishing the proper execution is the payment of the prescribed fees and stamp duty online. And it is after such payment make fish an electronically stamped form can b printed online with the CAC’s portal.

However, you should emphasize that underneath the Nigerian law, specifically the CAMA, every company has to be made up of at least members or shareholders and also two directors. The same two shareholders can be doubled being a director.

By and large, the summary of steps and requirements for a corporation registration in Nigeria are listed below:

1. The first applicant would be to choose two suitable proposed names for the company. After carrying this out, an availability check will probably be conducted about the CAC online portal to determine if any of the chosen names can be found instead of already in use.
2. The applicant must state the objectives and business with the company will undertake.
3. The applicant must provide a registered principal address to the new company.
4. The applicant must give information on the way the shares in the company is going to be divided between your shareholders.
5. The nuances of at the least two (2) Directors will be required. A copy of their way of identification for example drivers' license or international passport has to 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 be required to provide specifics of the shareholders in the company. Such details include names, occupation, residential address, email address contact information, mobile phone number and ways of identification such as driver's license, international passport or national identity card. The shareholders maybe the same persons as directors from the company.
8. The Memorandum and Articles of association from the company to be registered have to 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 process for company registration has been simplified with the CAC through partial electronic registration. Consequently, a registration of a company may be completed within 3 to 5 working days

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