Cost Of Registering Your Business In Nigeria

Cost Of Registering Your Business In Nigeria

Do you wish to know what it will cost to register your business enterprise or company in Nigeria? It is important to know that the (CAC) Corporate Affairs Commission is the body responsible for regulating the arrangement and the administration of business enterprises or companies in Nigeria. Each business in the Nigerian public or private is to be appropriately registered with the CAC.

Also Read: How To Register Your Business In Nigeria

The cost of registering your business enterprise or company in Nigeria depends on the kind of business or company. The cost of registering a privately owned business is not quite the same as the cost of registering a publicly owned business enterprise.

Business Organizations In Nigeria

Business organizations in Nigeria are classified into

  1. Business organization: These are profit-oriented and are formed to direct business exercises for the sole aim of making profits to be shared with individual members.
  2. Non-Business Organization: It is important to note that there are other registrable organizations that are true; deed; and action, non-profit organizations. These organizations are shaped not for business or profit-making however for charitable and helpful purposes. Therefore, some tax exceptions are enjoyed by them. Organizations in Nigeria can be business or non-business organizations (profit or non-profit organizations).

CAC Cost Of Registering Your Business In Nigeria

The following are the (CAC) Corporate Affairs Commission fess pertinent to business or company registration in Nigeria:

  1. The applicable fee for reservation of the name of your business enterprise or company = 500 Naira.
  2. The applicable fee for Registration of the private company with a share capital of N1million or less = 10,000 Naira
  3. The applicable fee for Registration of a private company or Increase in Share Capital above N1million and up to 500 million Naira = N5,000 for a sum of 1million Naira share capital or part thereabout.
  4. The applicable fee for Registration of a private company or Increase in share capital above 500 million Naira = 7,500 for a sum of  1million Naira share capital or part thereabout.
  5. The applicable fee for Registration of Public company or Increase in share capital = N20,000 for the first N1million share capital or part thereabout.
  6. The applicable fee for Registration of Public Company or Increase in share capital above N1million and up to 500 million Naira = 10,000 Naira for a sum of 1million Naira share capital or part thereabout.
  7. The applicable fee for Registration of Public Company or increase in share capital above N500million = 15,000 Naira for a sum of  1million Naira share capital or part thereabout.
  8. The applicable fee for Registration of Company not having a share capital = 20,000 Naira
  9. The applicable fee for the filing of a notice of exemption of foreign Companies from Registration = N30,000.
  10. The applicable fee for Re-instatement or Relisting of company name = N25,000.
  11. The Registration fee of charges for private company = N10,000 for a sum of N1 million or part thereabout.
  12. The Registration fee of charges for public company = N20,000 for a sum of 1 Million Naira or part thereabout.
  13. Fee for filing of annual return for a small Company = 2,000 Naira.
  14. Fee for filing of annual return for Private company other than a small  = 3,000 Naira.
  15. Fee for filing of annual return for public company = 5,000 Naira.
  16. Fee for filing of annual return for company Limited by Guarantee = 5,000 Naira.
  17. Fee for Filing of the annual report by foreign companies = 5,000 Naira.
  18. Fee for Filing of a statement in the form of schedule 14 under section 553 = 10,000 Naira.
  19. Fee for Filing of notice of merger or acquisition = 50,000 Naira.
  20. Fee for Filing of special resolution for merger = 20,000 Naira.
  21. The fee for the filing of other documents relating to the merger = 10,000 Naira.
  22. The fee for the filing of the legal declaration of solvency = 5,000 Naira.
  23. The applicable fee for Registration of appointment of liquidator = 10,000 Naira.
  24. The applicable fee for Registration of resolution for winding up = 10,000 Naira.
  25. The fee for the filing of return of final meeting and account of liquidation = 5,000 Naira.
  26. The fee for the filing of a notice of change of company name = 10,000 Naira.
  27. The fee for the filing of a notice of alteration of memorandum and articles of association = 5,000 Naira.
  28. The fee for the filing of a notice of changes in particulars of directors = 2,000 Naira.
  29. The fee for the filing of return of allotment and or a notice of change in shareholding = 2,000 Naira.
  30. The fee for the filing of a notice of change in the registered address = 2,000 Naira.
  31. The fee for the filing of a notice of appointment of the receiver = 10,000 Naira.
  32. The fee for the filing of a notice of discharge of the receiver = 5,000 Naira.
  33. The fee for the filing of a notice of change of signature = 2,000 Naira.
  34. The fee for the filing of a notice of reduction in share capital by public company = 20,000 Naira.
  35. The fee for the filing of a notice of reduction in share capital by private company = 10,000 Naira.
  36. The fee for the filing of a deed of release by a public company = 10,000 Naira.
  37. The fee for the filing of a deed of release by a private company = 5,000 Naira.
  38. The fee for the application for extension of time for holding of the annual general meeting by a public company = 10,000 Naira.
  39. The fee for the application for extension of time for holding of the annual general meeting by a private company = 5,000 Naira.
  40. The fee for Letter of Good Standing = 10,000 Naira.
  41. The fee for other filings (miscellaneous) = 2,000 Naira.
  42. The fee for a certified true copy of the certificate of registration = 10,000 Naira.
  43. The fee for certified true copies of memorandum and articles of association = 3,000 Naira.
  44. The applicable fee for electronic Search = 1,000 Naira for each company.
  45. The fee for manual Search by customers = 2,000 Naira for each company file.
  46. The applicable fee for manual Search Report prepared by officers of the Commission = 5,000 Naira.
  47. The fee for certified true copies of other documents = 2,000 Naira for each document.

Conclusion

Before you register your business or company in Nigeria, you have to check the cost. Although the business enterprise or company registration can be done online, the original copies of the documents used for the registration must be submitted to the CAC before the Certificate of Incorporation can be given to you or your representative.

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