Everything about registering a company in nigeria step by step guide – business – nigeria duke electric orlando

Registering a company is not a hard job as many will believe if you have the know-how. Registration of all companies is handled by the corporate Affairs commission (CAC) established by the companies and allied matters act 1990 (CAMA) just like NAFDAC is responsible for drugs and EFCC is responsible for financial crimes, the CAC is responsible for registration of all companies. An organization empowered by law to handle all issues associated with company registration, business names, and incorporated trustees in Nigeria. Before you start to even register a company, you have to have an idea of what your company will be called. E.g Dangote Nig Ltd or Coca-Cola Nigeria ltd are just example of names of registered companies to do business in Nigeria. If you don’t have a name, then you can’t have a company, but because there are over millions and millions of registered companies in Nigeria today, it is extremely difficult to find a name that is not already in existence that is why you must choose 3 names that are unique and the CAC will choose one out of the 3.Some people have encountered problems and difficulties going through this process because they lack adequate knowledge on the subject be it sole proprietorship or partnership as the case may be.

I am presenting to you a comprehensive manual on company registration. All the facts, the inside secrets and all the questions and answers about company registration that you can get nowhere else so that you will register your own company hitch-free and back you will all knowledge about it. Just read some of the content of this manual:

· All the processes and requirement and step by step guide from incorporation of company name, conversion and re-registration of private company to public company, re-registration of company limited by shares as unlimited company, re-registration of unlimited company as limited by shares to re-registration of public company as private company.

Please I need your advice. I have an old company which was registered a few years back, but it was not used for over 6 years because I stopped trading & went back into the corporate world to work as an employee. (Don’t ask why…it is a long story). Anyway, I dusted the certificate of incorporation this year and I have paid the relevant annual returns and penalty. But I need to get my TIN and the FIRS guys are asking some funny questions about taxes. What do I do?

Hi, by the provision of the relevant Statute, after one year in business, you are expected to file your tax returns. The makers/legislators did not put into consideration that an average Nigerian will register a company and keep until there is use for it. Most of our earlier laws (ACTs), Company Income Tax inclusive, are tailored or fashioned after that of UK’s without thinking of our own peculiarities.

Anyway, you have to pay the taxes for at least five years. You could ask for a waiver for 1-2 years for not having commenced business for those years. The subsequent years, you probably have to pay a flat rate per year i.e. 20k or 30k depending on your negotiating power.