Business registration in Nigeria is centrally managed by the Corporate Affairs Commission (CAC), established under the Companies and Allied Matters Act (CAMA). The CAC oversees the formation, operation, and regulation of companies and businesses in Nigeria, including post-incorporation matters.

For those looking to start a business in Nigeria, the most appropriate form of incorporation is a private company limited by shares. This structure is also highly recommended for foreigners intending to invest or establish a business in Nigeria, whether through foreign direct investment or portfolio investment.

Nigerians have the option to register a business name, also known as an enterprise, which does not have a separate legal personality like a company. However, foreigners or foreign-owned entities are not permitted to register just a business name; they must register a company with a minimum authorized share capital of NGN 10,000,000 (Ten Million Naira).

Significant advancements have been made in business registration processes in Nigeria, including the introduction of downloadable incorporation certificates online and simplified requirements since 2021.

Requirements for Company Registration in Nigeria

To register a company in Nigeria, the following details must be provided:

1. ‘Registered address ‘of the proposed company.
2. ‘Email and phone number ‘of the proposed company.
3. Forms of identification (such as international passports or driver’s licenses) for the directors and shareholders.
4. Approval note of name reservation from the CAC.
5. Full names, residential addresses, occupations, and dates of birth’ of the directors and shareholders.
6. Objects of the company.
7. Details of the company secretary’ (mandatory only for foreign-owned entities).
8. Incorporation certificate and company resolution’ if another registered company (local or foreign) will be a shareholder or subscriber to the proposed company.

Steps for Company Registration

The following steps outline the process for registering a company in Nigeria:

1. Log in to the CAC Portal: [https://www.cac.gov.ng/](https://www.cac.gov.ng/).
2. Submit two desired company names for a search.
3. Prepare incorporation documents.
4. Complete the pre-registration form and statement of share capital.
5. Pay the stamp duty and filing fee.
6. Upload the relevant documents.
7. Submit the registration application online.
8. Upon approval, the CAC will issue electronic incorporation certificates and other relevant documents.

Registration of a Business Name
For Nigerians wishing to register a business name, the requirements are similar but without the need for shareholders and directors. Instead, a proprietor or proprietors must provide similar information as listed for company registration.

Inconclusion,CAC registration must be carried out strictly in compliance with the authorized share capital required for each business.

This article provides a general overview of the subject. Please contact us directly for any specific legal assistance required.