The Corporate Affairs Commission (CAC) through its online platform has now made incorporation of a company easier. An individual can now register a company online with CAC, with little or no help from anyone, except for Section E in the Registration Form CAC 1.1, which requires the signature of a Legal Practitioner and attestation by a Notary Public or Commissioner for Oaths.
Before an incorporation, it is important to check whether the proposed name to be chosen or reserved has been registered by another individual. How to check if a company is registered in Nigeria can be done through the website of the CAC before making any reservation.
Company registration online with CAC through its online platform involves several steps that must be adhered to strictly in getting the desired results. The steps for how to register a company online in Nigeria include:
The first major step during incorporation of a company online with CAC is by filing for a name reservation online. This step is necessary as it helps to reserve the proposed company name for 60days until it is open for use by another person.
The steps to follow in this section include: create a sign up with the CAC for first-time users or to log in for existing users; then click on Name Reservation — then New Name Reservation; fill the necessary column and pay the necessary fee. Then wait for 24hrs for a response from the CAC officials. If successful, ensure to print out the “Approval note”
This is the most important step as the success of this determines the incorporation of the company. The steps to follow in this section include;
An applicant is expected to now login back to the CAC portal to upload all the incorporation documents.
Below are the documents to be scanned and uploaded on the CAC portal:
All the above documents must be in Pdf format.
The CAC will register the company and issue incorporation through online in less than 48 hours and the applicant can then visit the commission with all his or her original documents to pick up the certificate.
The procedure for how to register a company online has been simplified. Company registration online with CAC is another breakthrough on government’s efforts towards the easy of doing business in Nigeria. Company registration process that used to be completed for nearly a month through several going back and forth in the CAC office has now become what anyone can carry out through the comfort of his or her house or office.
However, some parts of incorporation still require external support, especially from a legal practitioner. For instance, Section E of the form requires a legal practitioner to attest to all incorporation by completing the form. A service of a corporate lawyer may also be required for the drafting of articles of association different from general articles’ template provided by the CAC.
Above all, it is safe to conclude that a great change has come to the way by which company used to be incorporated in Nigeria.
Written by Corporate & Commercial Law Department at Resolution Law Firm, Nigeria