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CAC Online Registration | Introduction
CAC Online Registration – The Corporate Affairs Commission (CAC) via its online program has now made the Registration of a firm more accessible. A person can now enroll a business on the internet with CAC, with scarce or no guidance from anyone, save for Section E in the Enrollment Form CAC 1.1, which needs the signature/stamp of a Legal Practitioner and attestation/ approval by a Commissioner for Oaths or Notary Public.
Steps By Step Guide To Registering Online
Before establishment, it is essential to investigate whether the intended name to be selected or booked has been enrolled by another person. How to verify if a business is enrolled in Nigeria can be made via the online site of the CAC before securing any reservation.
Company registration online with CAC within its web interface includes various steps that must be obeyed stringently in producing the aspired outcomes. Steps for CAC company online registration in Nigeria comprise:
STEP ONE — SELECTION AND RESERVATION OF NAME
The significant prime step during the establishment of a firm on the internet with CAC is by requesting for a name reservation with CAC online. This move is crucial as it aids to reserve the purposed organisation name for 60days until it is allowable for application by another individual.
The moves to attend in this region comprise: generate a sign up with the Corporate Affairs Commission as a new time guest or log in if you are an already signed up users; then tap on Name Reservation — then complete the essential sections and clear the necessary fee.
Then anticipate for a day that is 24hrs for a reply from the Corporate Affairs Commission administrators. If approved, make sure you print out the “Approval note” for other steps.
STEP TWO — PRE-INCORPORATION
This step is the most vital move as the end of this defines the establishment of the firm. The moves to obey in this sector involve; Supplying all needed sections in the Registration Form CAC 1.1 correctly and present the same on the web platform. Here are the details to enter:
- Documents concerning the Company
(Overall knowledge of Major business the firm will be involved in, The Filed Office Location of the Firm, Email address of the firm).
- Papers of the 1st Directors (least amount of 2 individuals over 18years of age )
(Name, Birth Date, Phone contacts, Email Address, Gender, Applications of Identification-( Permanent Voters card, International Passport, Driver’s Licence or National Identity card), amount of shares to be maintained (in percentage): this is allowed only when the director is a shareholder).
- Papers of Shareholders (2 individuals at least)
(Name, Birth Date, Gender, Email Address, Mobile Number, Forms of Identification-( Driver’s Licence, International Passport, Permanent Voters card, or National Identity card; shares Percentage to be maintained).
- Documentations of the Company Secretary (a corporate body or an individual)
With Personal Details just like the ones above.
- Statutory Statement of agreement with the terms of CAMA by a Legal Practitioner.
(To be stamped by a Legal Personnel, and approved to by a Commissioner for Oaths or Notary Public)
- Documentations of alien participants, if they are any.
(Personal particulars similar to the ones stated above).
- Papers of the Articles and Memorandum of Association.
It is essential to regard that there is a pattern previously composed Article of Association from CAC online site, which can be applied by any businessperson incorporating a firm.
Nevertheless, any brand-new firm that aims to include further information about the company’s leadership or pre-incorporation unions amidst shareholders and directors via its piece can solicit the assistance of professionals such as legal personnel to compose separate articles only for the company.
After the completely entering of the applications, a registrant is to advance to clear payment for the required registration fees. The precise payment to be made for incorporation include:
CAC Registration Fees
Federal Inland Revenue Service Fees (FIRS) Stamp Duty.
Consequently, an aspirant is required to print our the developed and electronically impressed Form CAC 1.1 with the Memorandum and Article of Association on the internet, register in the required sectors, approve the attestations side and then advance to uploading the scanned documents of the endorsed and dated papers.
STEP THREE — UPLOADING ALL THE REGISTRATION CERTIFICATES
A registrant is required to now login into the CAC web platform to upload all the Registration documents.
Here are the papers to be scanned and uploaded on the CAC platform:
- Approval Note, (It is the same as the Availability Printout).
- Registration Application CAC 1.1
- Description of Directors and Shareholders
- Cash Receipt of CAC
- Stamp Duty Certificate; this gotten as you pay for stamp duty.
- Article and Memorandum of Association
- Document of Incorporation of the Company Secretary (needed only where a corporate body is the Secretary).
All the papers above must be in presented Pdf format.
The CAC enrolls the firm and presents establishment via the internet is not more than 48 hours, i.e. 2 days and the appellant can then come to the commission’s office with all the appellants’ real papers to collect the CAC certificate.
CONCLUSION
The method for how to incorporate a firm online has been clarified. Company incorporation online with Corporate Affairs Commission is another discovery on the government’s attempts in creating ease of preparing business in Nigeria.
Organisation registration method that used to be achieved for almost in one month via various going in and out of the CAC office has now turned to what anyone can do even at the convenience of his home, anywhere and anytime.
However, some parts of establishment still need outside assistance, particularly from legal personnel. For example, Section E of the form needs legal personnel to confirm all endorsement by finishing the form. The assistance of a corporate lawyer may also be needed for the composing of articles of union different from general articles’ pattern produced by the CAC.
In conclusion, it is reliable to assume that a significant change has come to the process by which firms used to be registered in Nigeria.
