Hello Radarians! Really don’t have a perfect way of asking this, but:
What’s the cost of registering a Business (Limited) under CAC?
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Check out diylaw.ng
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Last time I did it, I used this guy http://myincorporation.com.ng/
Cost 70k
That was 2 years ago.
Don’t know about now with the recession and all.
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On DIYlaw, to register a company with N1,000,000 share capital, it’s a total of N61,950, if within Lagos and N63,950, if outside Lagos. Prices include VAT and courier.
We’re currently running a promo to give out a one free incorporation service, so if you are interested you can check that here.
In the interest of full disclosure, I’m a co-founder.
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Thanks for recommending 
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Thanks! @MrFoh @Segukeh1st and above @Odunoluwa
It’s @Seguleh1st, at your service.
Just a couple questions
What is needed to get incorporated?
What am I required by law to do after incorporating?
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To get incorporated, you’ll need to provide these:
- Personal details of the shareholders
- Personal details of the directors of the company
- Proof of qualification for professional or consultancy services e. g medical certificate for a hospital or medical-related service provider business, investment advisory licence for an investment company, certification in IT for a technology or software development company, ICAN for accounting, NCE for school or education related services etc.
- A photocopy of a government issued identity card of the shareholders and directors of the company e.g. international passport, national identity card, or driver’s license.
- Details and government issued ID of the company secretary or a certificate of registration if the company secretary is an organisation (optional whilst incorporating)
Post incorporation at the CAC, you’ll need to:
- Appoint a company secretary (if you didn’t at incorporation)
- Hold an annual general meeting (AGM) of shareholders within the first 18 months of incorporating and annually after
- File your first annual returns within the first 18 months of incorporating and annually after.
- Inform the CAC of any changes in the company by filing such information at the CAC.
Your post-incorporation obligations are provided by the CAC as part of your completed incorporation package to guide you.
Non-CAC related obligations, you may need include getting your TIN from the FIRS for filing of taxes. Depending on the nature of your business, you may need to register with SCUML.
What you really do need to do, however, is just get your laptop or phone, go to our DIY Registrations platform, click on the product you need, answer the questionnaire and we take it from there.
If you want to read up some more, you can check our FAQs or our DIY Resources platform
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So if I dont have a certification in technology, I can not open a tech company?
Sounds ridiculous. So if a person has a tech idea, you now can’t register a tech company and hire developers? Please who are the peeps making these obnotious conditions?
You can’t register a tech company unless you have a tech person as one of the directors of the company.
Likewise law, medicine, security companies etc
At least, that’s the minimal standardisation technique Nigeria has for the ever growing business landscape.
I’ve used http://myincorporation.com.ng/, even met him personally, The dude is awesome and very professional with his business.
I’ve done business registrations for other folks through him…He’ll have the certificate delivered to your address …
A tech person is different from a person that has an IT certification. The later is a requirement and that’s technically wrong.
I am CEO of a tech company and I read Accounting and I have developed myself with various IT trainings, even some without certifications. So why should I be limited from being innovative in the Nigerian space?
Again I have tech corporation registered in the US and I wasn’t asked to bring any certification before I got my registration done.
So why do we choose to stifle people with minimal levels of reasoning?
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Please, what is the definition of a tech person?
I might not have used the right term but you should get the gist if I ask you…simply
Who is a lawyer, security operative, Doctor or health worker.
That you know how to treat your headache does not certify you in treating others.
That you know how to watch or secure your house does not make you a police officer or neighborhood soldier.
Likewise, that you know how to build websites or repair computers does not make you a certified Tech Person under Nigerian laws, you can be accepted anywhere else.
As much as the CAC is not a know all do all, I’m in agreement with this until it’s revamped by an Act.
All they ask is proof that you’ve passed through a certifying body within or outside the shores of Nigeria.
I have used microsoft packages for over 15 years but it doesn’t mean I’m certified .
what are you then saying? that I must obtain a degree in computer science before registering a tech company abi??
I am sure there are ways you can get a paper certfication within a month also (Like write a certification exam under a registered firm or something…Na naija we dey na) and proceed to register your company. You might as well consider going for the Business registration instead.(This one does not require much paper-work)
What is business registration…
Sadly, this is the case. It hasn’t always been like that and was restricted to sectors like legal, medicine, accounting engineering but recently, for like the past two years, the regulation has also been extended to technology… Any form of certification in technology will do and not necessarily a B.Sc. or OND/HND.
It’s an internal regulation of the CAC based on the powers the CAC has to make regulations under the Act and so can be loaltereed or amended by the CAC at anytime but for now, that is what obtains