Register or Incorporate Your Company Today
To enroll/fuse an organization or a company, you have to initially realize what a company or organization is. A company or An organization is a kind of corporate structure whereby the lawful status of the business is isolated from the owner/promoter of the business. The organization or organization has something, many refer to as ‘corporate identity’.
There are 2 kinds of organizations or companies; private and public organizations or companies. Docu-Xpress E-assistant will focused more on privately owned businesses or companies.
There are 3 kinds of privately owned businesses or companies – a company restricted by offers (shares), company constrained by assurance (limited by guarantee), and a boundless company (an unlimited company). Most of organizations and companies in Nigeria are privately owned businesses constrained by offers, along these lines we will talk more on privately owned businesses restricted by offers (limited by shares).
The law that bargains with the control of organizations and companies in Nigeria is the Company and Allied Matters Act (CAMA). It manages the different sorts of company structures, qualification, process for registration/incorporation, and guidelines for activity. The administrative body that is accountable for actualizing the arrangements of the CAMA is the Corporate Affairs Commission (CAC).
So you have thought of an extraordinary business idea, and you are tingling to dispatch and profit in Nigeria. You may think to begin with, you need to keep your startup costs low, and one of the manners in which you wish to do that is by registering a business name, and not going down the course of organization fuse (Company Incorporation). While on paper this may seem like a decent system, in all actuality it probably won’t be so insightful.
Here are the reasons why registering a company incorporation in Nigeria is a more intelligent legitimate and business choice than enlisting a Business Name.
PROFESSIONALISM AND COMPETITIVENESS: Choosing to enlist an organization or a company as opposed to registering a business name, extends a significantly more expert picture. It flags that you are centered around the business and furthermore dedicated to submitting to proficient corporate administration structures, which the administrative body in Nigeria (Corporate Affairs Commission) has made.
It proposes to the world that the business has perpetual quality and is focused on viable and dependable administration. It likewise imparts a feeling of trust in clients and providers. Then again (and this is in no way, shape or form a slight to registering business names), as a result of the low obstruction to section so as to work as a business name in Nigeria, clients and providers are more averse to need to execute with such organizations or companies, and in this manner makes it an uneven playing field while contending with enrolled organizations or incorporated companies.Additionally, in Nigeria Also, certain Government departments and agencies, and multinational companies have rules that in order to tender for work or provide services to them, you would need to be a registered company or an enlisted organization. Subsequently not joining could possibly thwart the development of your business.
STEP 1 – NAME AVAILABILITY/RESERVATION
The first step to register a company in Nigeria is called the name availability search. At this stage we want to find out if the name which you want to register your company with is available and not already in use.
It’s important to note that when you are reserving a name, you choose a name that is considerably unique (you should have at least 2 options). You should not use generic names, as they will most likely be taken already. Also you are restricted from using certain names –
- Names that contain the words “Chamber of Commerce”, “Federal”, “National”, “Regional”, “State”, “Government”, “Municipal” or “Chartered”, “Co‐operative” or the words “Building Society”; or “Group” or “Holding”
- Names that in the opinion of the Commission is capable of misleading as to the nature or extent of its activities or is undesirable, offensive or otherwise contrary to public policy;
- Names that in the opinion of the Commission would violate any existing trademark or business name registered in Nigeria unless the consent of the owner of the trademark or business name has been obtained.
STEP 2 – REGISTERING DETAILS OF THE SHAREHOLDERS
Under Nigerian law, a private company must have a minimum of 2 members, and can only have a maximum of 50 members. The founding members must not be – under the age of 18 years old (unless at least 2 other members are over the age of 18), of unsound mind, an undischarged bankrupt, or disqualified by CAMA from being a Director
The information which we will need you to provide include – the name of the shareholders, residential address, occupation, email address and mobile phone number. You will also need to provide a recognised identity document e.g. international passport, drivers licence, national identity card etc.
STEP 3 – PREPARING YOUR DOCUMENTATION
The documents required for the registration of a company include:
- Memorandum and Articles of Association
- Notice of registered address of the business
- List, particulars, and consent of the first Directors of the company
- Statement of compliance by legal practitioner
However, please note that with respect to the Memorandum of Association and Articles of Association, we will use the provides templates, and therefore if your line of business is one which requires special documentation, you should let us know so as to get these drafted by our professionally legal partner.
STEP 4 – SUBMISSION AND PICK UP
Once we upload all the documents and your submission is finalized. After submission, the CAC will contact us if there are any queries. If there are no queries, the CAC will inform you once the registration is complete, and then you can go to their office to pick up your certificate of incorporation.
No need to be panic about all said above, Docu-Xpress E-assistant handle all this process for you and all this will be done in our TASK MANAGEMENT SYSTEM and you will be able to check the process status and progress of your registration because an account will be created for you in our system after signing up for our service.
Docu-Xpress E-assistant is a product service system of TextExpress Smart ICT Solutions providing administrative, creative and/or technical services, utilising advanced technological modes of communication and data delivery. We provides support services to other businesses from our remote location in helping them to process their Business Registration. Our CAC business registration service is;
- Easy Like A,B,C #1 – Our process is easy! That we can get your Company Incorporate in any part of Nigeria and you will get your Company Certificate of Incorporation in the nearest CAC Office that is close to you..
- Hassle-Free #2 – Registering with CAC comes with a whole lot of problems that many wouldn’t tell you. We save you of all the stress that you don’t have to worry about anything but the collection of your certificate.
- Faster & Quicker #3 – When we say faster and quicker, we mean FAST-TRACK. We get you register in 4-5weeks or less because of our better understanding of the CAC procedure that get your application approved instead of been rejected.
- We have help more than 100 Companies like yours to incorporate successfully.
➤ Your company has to have at least two members, but no more than 50 members.
➤ The members of your company have to be at least 18 years old (However, they may be younger if at least two of your members are over 18).
➤ You can’t register your company if there are members of unsound mind, disqualified by CAMA or bankrupt.
➤ The minimum share capital of your business has to be at least N10,000. No less! You will also need to fill the documents listed below:
➤ A Notice of registered address of your business;
➤ Articles of Association and Memorandum;
➤ Receipt of payment of your stamp duties;
Particulars, list, and consent of the first Directors of your company;
➤ Statement of compliance by legal practitioner;
You need not to worry about these, Docu-Xpress E-assistant prepares and make this available for you, as this is covered in our sign up fee.
If you would like us to assist you to incorporate your company for you, our service charge is N80,000. For a company with One Million Naira share capital.