Company Registration in Nigeria – Requirements & Fees (Complete Guide)

Introduction

Company registration in Nigeria is one of the most important steps for entrepreneurs, startups, and investors who want to build a credible and scalable business. Unlike a business name, a registered company offers a stronger legal structure, limited liability protection, greater access to funding, and eligibility for corporate contracts.

In this complete guide, we will walk you through:

• What company registration means in Nigeria,
• Requirements for private limited liability companies, public companies, and specialized sectors,
• Step-by-step registration process with the Corporate Affairs Commission (CAC),
• Official fees and additional costs,
• Post-registration obligations every company must fulfill,
• Common mistakes to avoid.

By the end, you’ll have a clear roadmap to successfully register your company and keep it compliant.

 

Understanding Company Registration in Nigeria

Company registration in Nigeria is overseen by the Corporate Affairs Commission (CAC) under the Companies and Allied Matters Act (CAMA 2020). When you register a company, you create a separate legal entity that can own property, sue and be sued, open a corporate bank account, and enter into contracts.

The most common types of companies in Nigeria include:

1. Private Limited Liability Company (Ltd) – The most popular form for SMEs and startups.
2. Public Limited Liability Company (Plc) – For larger businesses intending to raise funds from the public.
3. Company Limited by Guarantee – Often used for non-profits or professional associations.

 

Key Benefits of Company Registration

• Limited Liability: Protects shareholders’ personal assets.
• Corporate Credibility: Builds trust with investors, partners, and clients.
• Access to Funding: Easier to secure loans, grants, or investments.
• Eligibility for Contracts: Many government and corporate contracts require company registration.
• Perpetual Succession: The company continues to exist regardless of changes in ownership.

 

Requirements for Company Registration in Nigeria

To successfully register a company with CAC, you will need:

1. Minimum Shareholders and Directors

• Private Company (Ltd): At least 1 director and 1 shareholder (can be the same person).
• Public Company (Plc): Minimum of 2 directors and 2 shareholders.
• All directors must be at least 18 years old, of sound mind, and not bankrupt.

2. Share Capital

• Minimum share capital: ₦100,000 for private companies.
• Specialized sectors: Higher thresholds apply. For example:
  • Travel Agency – ₦30 million
  • Security Company – ₦10 million
  • Oil & Gas – ₦10 million or more depending on DPR/NUPRC requirements

3. Company Name

• Must be reserved on the CAC portal and must not conflict with existing registered names.

4. Registered Address

• A physical address in Nigeria is mandatory.

5. Identification Documents

• Valid ID of directors and shareholders (NIN, international passport, driver’s license, or voter’s card).

6. Statement of Share Capital and Allotment

• Indicating how the shares are divided among shareholders.

7. Memorandum and Articles of Association (MEMART)

• Governs the company’s objectives, structure, and internal management.

 

Step-by-Step Process of Company Registration in Nigeria

Step 1: Name Reservation

• Conduct a CAC public search to check availability.
• Submit two proposed names for approval.

Step 2: Fill Incorporation Forms

• Provide details of directors, shareholders, shareholding structure, and registered office address.

Step 3: Draft and Upload Documents

• MEMART, particulars of directors, statement of capital, and means of identification.

Step 4: Pay Filing Fees

• Fees depend on share capital (see section below).

Step 5: Certificate Issuance

• Once approved, CAC issues a Certificate of Incorporation, along with:
  • Form CAC2 (Statement of Share Capital & Return of Allotment)
  • Form CAC7 (Particulars of Directors)
  • MEMART

Step 6: Post-Incorporation Compliance

• Apply for Tax Identification Number (TIN) with FIRS.
• Open a corporate bank account.
• Apply for SCUML certificate (if in a designated sector).
• Obtain relevant business permits/licenses.

 

CAC Registration Fees for Companies in Nigeria

The official CAC filing fees are based on the company’s share capital:

• ₦100,000 – ₦1 million share capital → ₦10,000
• ₦1 million – ₦500 million → ₦10,000 for every ₦1 million
• Above ₦500 million → ₦20,000 for every ₦1 million

Other costs to consider:

• Professional fees (if using an accredited agent).
• Stamp duties.
• Sector-specific permits and compliance fees.

 

Timeline for Company Registration

• Name reservation: 1–2 working days.
• Filing and approval: 3–7 working days (if documents are in order).
• Certificate issuance: Usually within 1 week.

 

Common Mistakes to Avoid

• Choosing a restricted or prohibited name.
• Using fake addresses or unverifiable documents.
• Incorrect share capital allocation.
• Failing to comply with post-incorporation requirements.

 

Annual Obligations of a Registered Company

After registration, companies must comply with CAC and FIRS regulations:

• File annual returns with CAC to avoid penalties or deregistration.
• Pay annual taxes (CIT, VAT, etc.) as applicable.
• Update records when changes occur (directors, address, shareholding).

 

Frequently Asked Questions (FAQs)

Q1. Can one person register a company in Nigeria?
Yes, under CAMA 2020, a company can be registered with a single shareholder/director.

Q2. How long does it take to register a company?
On average, 3–7 working days if all documents are complete.

Q3. What is the difference between a business name and a company?
A business name does not provide limited liability, while a company is a separate legal entity with stronger protections.

Q4. What is the minimum share capital for a company?
₦100,000 for private companies, but higher for regulated sectors.

 

Conclusion

Registering a company in Nigeria is a vital step for serious entrepreneurs who want to build a scalable and credible business. With the right documentation, correct share capital, and compliance with CAC requirements, you can complete your registration in less than a week.

At Business Registration Ventures, we specialize in seamless CAC registration services for individuals, startups, and corporate bodies. Whether you need a private company, public company, or sector-specific incorporation, we provide expert support from start to finish.

Contact us today to get started with your company registration in Nigeria.