Question: What does it take to register a business in Nigeria?

How much does it cost to register a business name in Nigeria?

The CAC official filing fee for the registration of business name in Nigeria is N10,000 (Ten Thousand Naira Only). However, where an accredited agent is engaged by the applicant for such registration, the agent will also charge a professional fee for the services to be rendered.

Can I start a business without registering it in Nigeria?

By law every enterprise in Nigeria is required to be registered and complied with the Corporate Affairs Commission with the relevant provisions of the Companies and Allied Matters Act, Chapter 59, Laws of the Federation of Nigeria 1990. … I do not need to register the business to make it more profitable.”

Can an individual register a company in Nigeria?

An individual seeking to register a small business in Nigeria different from a business name may register a limited liability company. … Meanwhile, the Corporate Affairs Commission (CAC) is the government agency responsible for registering companies in Nigeria.

How much does it cost to register a business name in Nigeria 2021?

As a new business, all you have to pay for is the registration of your business name which is ₦10,000.00. Other fees can be paid for as the need arises.

IMPORTANT:  What do all business owners have in common?

How much does it cost to register a company in Nigeria 2021?

To start with, the official cost for registering your business/company name with CAC is N15,000.

Which business is more profitable in Nigeria?

Real Estate is no doubt one of the most profitable businesses in Nigeria and the world. Real Estate is as relevant as ever because people will always need a place to stay. As the population of Nigeria continues to increase, the need for housing continues to grow. There are several opportunities to choose from!

How long does it take CAC to approve business name?

The entire process for registering a business name normally takes 1-2 weeks, depending on the workload of the CAC and other factors. You do not need a lawyer to register a business name, however, if you want to register a company, you need the services of a lawyer or other accredited agent.

The registered principal address of the company. The share capital and shareholding formula among shareholders will be required. The particulars of a minimum of two (2) Directors will be required. A copy of their means of identification such as voter’s card, national ID, drivers’ license or international passport.

How much does it cost to register an LLC in Nigeria?

Fees

Different Nigeria entity types Cost Draft invoice
Tax resident LLC US$20,000 View invoice PDF
PLC US$21,403 View invoice PDF
LLC (oil & gas services) US$44,950 View invoice PDF
Representative office US$20,400 View invoice PDF
To help entrepreneurs