The CAC, which is an acronym for the Corporate Affairs Commission, is the governmental agency in Nigeria charged with the responsibility of registering companies and business names. They also take charge of regulating these businesses and companies through their constitutions. Registering a company attracts registration fees among several other fees and it is the CAC that collects these revenues for the country. In this article, we are going to scrutinize the cost of registering a company in Nigeria and many more.
Cost of Application Form For CAC Nigeria
Below is a comprehensive list of the fees payable for business application forms in Nigeria
Company
| SN | SUBJECT | FEES in Naira (₦) |
| 1. | Set of incorporation forms | 500.00 |
| 2. | Others | 100.00 for each form |
Business Name
| SN | SUBJECT | FEES in Naira (₦) |
| 1. | Registration form | 250.00 |
| 2. | Others | 100.00 for each form |
To Incorporate Trustees
| SN | SUBJECT | FEES in Naira (₦) |
| 1. | Set of incorporation forms | 1,000.00 |
| 2. | Others | 100.00 for each form |
| 3. | Accreditation | 5,000.00 |
Cost of Services for Incorporated Trustees
| SN | SUBJECT | FEES in Naira (₦) |
| 1. | Reservation of Name | 500.00 |
| 2. | Incorporation of trustees | 30,000.00 |
| 3. | Filing of any notice of change of name | 10,000.00 |
| 4. | Filing of notice of change in the company’s trustees | 10,000.00 |
| 5. | Filing of notice of Constitution amendment | 6,000.00 |
| 6. | Filing of annual return | 5,000.00 |
| 7. | Filing of notice of court order for the dissolution of the company’s incorporated trustees | 5,000.00 |
| 8. | Filing of any other documents (miscellaneous) | 1,000.00 |
| 9. | Search on the company’s incorporated trustees file | 2,000.00 |
| 10. | A certified true copy of the Company’s certificate of incorporation | 10,000.00 |
| 11. | A certified true copy of the Company’s constitution | 5,000.00 |
| 12. | A certified true copy of the company’s incorporation form | 2,000.00 |
| 13. | Certified true copies of any other documents | 2,000.00 per document |
Cost of Services for Business Names in Nigeria
| SN | SUBJECT | FEES in Naira (₦) |
| 1. | Reservation of Name | 500.00 |
| 2. | Registration of business name | 10,000.00 |
| 3. | Filing of notice of any change of business name | 5,000.00 |
| 4. | Filing of notice of any change in business address | 1,000.00 |
| 5. | Filing of notice of any change in proprietorship | 1,000.00 |
| 6. | Filing of annual return | 1,000.00 |
| 7. | Filing of notice of business cessation | 1,000.00 |
| 8. | Filing of any other documents (miscellaneous) | 1,000.00 |
| 9. | Search on business name file | 1,000.00 for each business name file |
| 10. | A certified true copy of a business name’s certificate of registration | 5,000.00 |
| 11. | Certified true copies of any other documents | 2,000.00 per document |
Cost of Services for Companies
| SN | SUBJECT | FEES in Naira (₦) |
| 1. | Reservation of Name | 500.00 |
| 2. | Registration of any private company with a share capital of one million naira or less | N10,000.00 |
| 3. | Registration of private company/boost in Share Capital over1million naira and up to 500 million naira | N5,000.00 for every one million naira share capital or part of it thereof |
| 4. | Registration of private company/boost in share capital over 500 million naira | N7,500.00 for every one million naira share capital or part of it thereof |
| 5. | Registration of Public company/boost in share capital | N20,000.00 for the initial one million naira share capital or part of it thereof |
| 6. | Registration of Public Company/boost in share capital over 1million naira and up to 500 million naira | N10,000.00 for every one million naira share capital or part of it thereof |
| 7. | Registration of Public Company/boost in share capital over 500 million naira | N15,000.00 for every one million naira share capital or part of it thereof |
| 8. | Registration of Company without a share capital | N20,000.00 |
| 9. | Filing of exemption notice of foreign Companies from Registration | N30,000.00 |
| 10. | Re-instatement cum Relisting of company name | 25,000.00 |
| 11. | Registration of all charges for a private company | N10,000.00 for every one million naira or part thereof |
| 12. | Registration of all charges for public company | N20,000.00 for every one Million naira or part thereof |
| 13. | Filing of annual/yearly return for small Company | N2,000.00 |
| 14. | Filing of annual/yearly return for a Private company rather than a small company | N3,000.00 |
| 15. | Filing of annual/yearly return for a public company | N5,000.00 |
| 16. | Filing of annual/yearly return for a Company Limited by Guarantee | N5,000.00 |
| 17. | Filing of annual/yearly report by foreign companies | N5,000.00 |
| 18. | Filing of statement/declaration in form of schedule 14 under section 553 | N10,000.00 |
| 19. | Filing of notice of acquisition/merger | N50,000.00 |
| 20. | Filing of any special resolution for merger | N20,000.00 |
| 21. | Filing of any other documents concerning merger | N10,000.00 |
| 22. | Filing of any statutory declaration of solvency | N5,000.00 |
| 23. | Registration of the appointment of liquidator | N10,000.00 |
| 24. | Registration of resolution for termination/winding up | N10,000.00 |
| 25. | Filing of the return of final meeting cum account of liquidation | N5,000.00 |
| 26. | Filing of any notice of change of a company name | N10,000.00 |
| 27. | Filing of notice of any alteration of a company memorandum cum articles of association | N5,000.00 |
| 28. | Filing of any notice of changes in the particulars of directors | N2,000.00 |
| 29. | Filing of return of allocation/allotment and or any notice of change in company shareholding | N2,000.00 |
| 30. | Filing of any notice of change in a company’s registered address | N2,000.00 |
| 31. | Filing of any notice of appointment of a receiver | N10,000.00 |
| 32. | Filing of any notice of discharge of a receiver | N5,000.00 |
| 33. | Filing of notice of any change in signature | N2,000.00 |
| 34. | Filing of notice of any reduction in share capital by a public company | N20,000.00 |
| 35. | Filing of any notice of reduction in share capital by a private company | N10,000.00 |
| 36. | Filing of any deed of release by a public company | N10,000.00 |
| 37. | Filing of any deed of release by a private company | N5,000.00 |
| 38. | Application for any time extension for holding of annual/yearly general meeting by a public company | N10,000.00 |
| 39. | Application for any time extension for holding of annual/yearly general meeting by a private company | N5,000.00 |
| 40. | Letter of Good Standing | N10,000.00 |
| 41. | Other filings (miscellaneous) | 2,000.00 |
| 42. | A certified true copy of the company certificate of registration | N10,000.00 |
| 43. | Certified true copies of company memorandum cum articles of association | N3,000.00 |
| 44. | Electronic Search | N1,000.00 per company |
| 45. | Manual Search by customers | N2,000.00 per company file |
| 46. | Manual Search Report prepared by the Commission’s officers | N5,000.00 |
| 47. | Certified true copies of any other documents | N2,000.00 per document |
| 48. | Consent for Restricted Names | N5,000.00 |
Fees Payable For Share Increase
Registration of any increase in the share capital of a private company above one million naira and up to 500 million naira attracts a fee of N5,000 per one million naira share capital or part of it thereof.
Registration of any increase in the share capital of a private company above N500 million attracts a fee of N7,500 per one million naira share capital or part of it thereof.
Registration of any increase in the share capital of a public company attracts a fee of N20,000 for the initial one million naira share capital or part of it thereof.
Registration of any increase in the share capital of a public company above one million naira and up to 500 million naira attracts a fee of N10,000 per one million naira share capital or part of it thereof.
Registration of any increase in the share capital of a public company above N500 million attracts a fee of N15,500 per one million naira share capital or part of it thereof. However, everything has been simplified in the table above. Remember receipts are issued for all payments.
Penalties for Companies That Fail to Meet up with Their Fees
Public companies that file their notice of increase in share capital late will pay N10,000. Private companies that commit the same offense will pay a fee of N5,000 to the CAC. Small companies that file their annual returns late will pay the sum of N3,000 per year and so on.
Payment of Annual Returns
Owners of established business names or companies registered with CAC are required by law to file Annual Returns to prove that their companies are still existing among other things. Annual returns are distinct from tax; while tax goes to the coffers of the Federal Government of Nigeria or the states, annual returns go to the CAC and must be paid whether you are making a profit or not.
Business names must pay their annual returns yearly on or before the 30th of June. However, they can enjoy waivers for their startup year. Below is a list of all the annual fees payable by companies;
- Filing of Annual/Yearly Returns Registered Business Name (for Small Company )
- Filing of Annual/Yearly Returns for Private Company
- Filing of Annual/Yearly Returns for Public Company
- Filing of Annual/Yearly Returns for Company/businesses Limited by Guarantee
- Filing of Annual/Yearly Returns for Foreign Company
These fees are processed depending on the period of the year(s). Thus CAC needs to be contacted to get the exact amount to pay.
Penalties for Companies That Fail to Meet up with Their Annual Returns
As provided by law, businesses that fail to pay their annual returns are required to pay the sum of N25 as a daily default fee and a fine of N200. However, what we have in practice is a flat fee of N2,500 payable per annum as amended by CAC. For Trustees, late filing of annual returns attracts a fine of N5,000.
