One of the core requirements when it comes to owning a business or company in Nigeria is registering the company under the Corporate Affairs Commission. If you are looking to start a company in Nigeria, registering the company, regardless of the kind of company or business, should be at the core of your plans.
With a lot of people finding it quite challenging to understand the processes and costs involved in the company or business name registration, the post takes a detailed look at the costs of company registration in Nigeria today.
How Much Does it Cost to Register a Company in Nigeria?
There are different types of companies and businesses and this also tells on the cost of registering the business. Not all companies cost the same amount to register with CAC. Let us take a quick look at how much one can expect to spend when it comes to company registration in Nigeria today. We will consider popular classes of businesses in the country today.
Cost of Registering Business Name
If you are looking to register a business name, then you need to be aware of the cost implication of the various stages. Here are the amount you should expect to spend;
Cost of Reservation of Name – N500
Cost of Registration of Business name – N10, 000
Cost of Filing of notice of change of business name – N5, 000
Cost of filing of notice of change of business address – N1, 000
Cost of filing of change in Proprietorship – N1, 000
Cost of Filing of annual returns – N1, 000
Cost of filing of notice of cessation of business – N1, 000
Cost of filing of other related document – N1, 000
Cost of Search on Business name File – N1, 000 per business name search
Certified copy of certification of business name registration – N5, 000
Cost of registration of Private Limited Company (PLC)
If the company you are looking to register is a Private Limited Company, then here are the associated cost of the registration
Cost of Registration of Name – N500
Cost of registration of Private Company (with share capital of less than N1 Million) – N10, 000
Cost of registration of Private Company (with share capital between N1 Million – N500 Million) – N5, 000 for each N1 million share. This means that if the share is N10 million for example, then this would cost N50, 000.
Cost of registration of Private Company (with share capital over N500 Million) – N7, 500 for each N1 million share.
Cost of registration of Public Company – N20, 000 for the first N1 million share capital
Cost of registration of Public Company (with share capital between N1 Million – N500 Million) – N10, 000 for each N1 million share.
Cost of registration of Public Company (with share capital over N500 Million) – N15, 000 for each N1 million share.
Cost of registration of a company that does not have capital share – N20, 000
Cost of Filing exemptions of foreign companies from registration – N30, 000
Cost of re-installment of a company name – N25, 000
Cost of registration of charges for Private company – N10, 000 for every N1 million
Cost of registration of charges for Public company – N20, 000 for every N1 million
Cost of filing for annual return for a small company – N2, 000
It should be noted that these prices as documented above are fixed. However, legal practitioner charges various amounts for the whole process. The charges are the same across the country and do not vary with state or city.
The breakdown as above gives you a clear idea of how much you will require to register your business or company in Nigeria today.
