CAC -Types and Requirements



Here's a detailed comparison of the different types of CAC (Corporate Affairs Commission) registrations in Nigeria:

Business Name Registration

1. Suitable for: Small businesses, sole proprietors, entrepreneurs
2. Liability: Unlimited
3. Ownership: Individual/Partnership
4. Share Capital: Not applicable
5. Directors/Shareholders: Not required
6. Registration Fee: ****
7. Compliance Requirements: Minimal
8. Requirements: Business name, owner's details, Id card and address

Read: What is SCUML and which business needs it?

Private Limited Company (Ltd)

1. Suitable for: Medium to large-scale businesses
2. Liability: Limited
3. Ownership: Shareholders
4. Share Capital: Minimum ₦100,000
5. Directors/Shareholders: Minimum 2 directors, maximum 50 shareholders
6. Registration Fee: ****
7. Compliance Requirements: Annual returns, audited accounts
8. Requirements: Memorandum and Articles of Association, share capital, directors' and shareholders' details

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Public Limited Company (PLC)

1. Suitable for: Large-scale businesses seeking public investment
2. Liability: Limited
3. Ownership: Shareholders
4. Share Capital: Minimum ₦500,000
5. Directors/Shareholders: Minimum 2 directors, no maximum shareholders
6. Registration Fee: ****
7. Compliance Requirements: Annual returns, audited accounts, public disclosure
8. Requirements: Memorandum and Articles of Association, share capital, directors' and shareholders' details

Limited by Guarantee (LBG)

1. Suitable for: Non-profit organizations, charities, associations
2. Liability: Limited
3. Ownership: Members
4. Share Capital: Not applicable
5. Directors/Shareholders: Minimum 2 directors, no maximum members
6. Registration Fee: ****
7. Compliance Requirements: Annual returns, audited accounts
8. Requirements: Memorandum and Articles of Association, directors' and shareholders' details

To register your business. Click here

Incorporated Trustees

1. Suitable for: Non-profit organizations, charities, associations
2. Liability: Limited
3. Ownership: Trustees
4. Share Capital: Not applicable
5. Directors/Shareholders: Minimum 2 trustees
6. Registration Fee: ****
7. Compliance Requirements: Annual returns
8. Requirements: Trust deed, trustees' details, and address

Sole Proprietorship

1. Suitable for: Individual entrepreneurs
2. Liability: Unlimited
3. Ownership: Individual
4. Share Capital: Not applicable
5. Directors/Shareholders: Not required
6. Registration Fee: ****
7. Compliance Requirements: Minimal
8. Requirements: Business name, owner's details, and address

Foreign Company Registration

1. Suitable for: Foreign companies operating in Nigeria
2. Liability: Limited
3. Ownership: Shareholders
4. Share Capital: Varies
5. Directors/Shareholders: Varies
6. Registration Fee: ****
7. Compliance Requirements: Annual returns, audited accounts
8. Requirements: Certificate of incorporation, memorandum and articles of association, directors' and shareholders' details

When choosing a CAC registration type, consider factors such as:

1. Business size and scope
2. Liability protection
3. Ownership structure
4. Funding requirements
5. Compliance obligations

CAC Registration Requirements

- Completed registration form
- Proof of business address
- Identification documents (e.g., passport, driver's license)
- Payment of registration fees

Consult with a legal or financial expert to determine the best registration type for your business.

Would you like more information on CAC registration or compliance requirements? Click here

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