Step-by-Step Guide to Registering a Company in Nigeria
Step 1: Choose Your Structure
Decide if you want to register as:
Business Name (Enterprise) – easier, cheaper, for small/solo businesses.
Limited Liability Company (LTD) – protects personal assets, good for serious growth.
👉 If you’re just starting, you can begin with a Business Name and later upgrade to LTD.
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Step 2: Pick a Business Name
Go to the CAC Portal (Corporate Affairs Commission): https://pre.cac.gov.ng
Search to see if your desired name is available.
Reserve it (cost: around ₦500).
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Step 3: Gather Documents
For Business Name: Just your valid ID (NIN, passport, driver’s license, or voter’s card).
For LTD Company:
Memorandum & Articles of Association (MEMART)
Names & details of directors/shareholders
Means of ID + passport photos
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Step 4: Fill Registration Form
On CAC portal, fill CAC Form 1.1 (Application for Company Registration).
Attach your documents.
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Step 5: Pay Registration Fee
Business Name: around ₦10,000 – ₦15,000
LTD Company: starts from ₦50,000+ depending on share capital.
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Step 6: Get Certificate of In corporation
Once CAC approves, you’ll receive:
Certificate of Incorporation
Status Report
TIN (Tax Identification Number)
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Step 7: Open a Corporate Bank Account
Take the following to your preferred bank:
CAC Certificate
TIN
Status Report
Valid ID of directors
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Step 8: Register with FIRS
For tax compliance (VAT, Withholding Tax, Company Income Tax).
Some states also require registration with their tax boards.
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Step 9: Apply for Other Licenses (If Needed)
Example:
NAFDAC (if food, drinks, drugs, cosmetics)
SON (Standards Organisation of Nigeria) for manufacturing
CBN (finance-related businesses)
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Step 10: Start Operation's
Set up branding, accounting, marketing, and hire staff (if needed).
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🔥 Quick Timeline & Cost (Business Name vs LTD):
Business Name: 1–2 weeks, ₦12k–₦20k
Limited Company: 2–4 weeks, ₦50k–₦100k+
