Breakdown of CAC Company and Business Name Registration Fees In Nigeria

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

CAC
A sample of CAC payment receipt image source

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.

Chacha
Chacha is a writer with a wealth of experience who has contributed across several channels. Her specialty includes celebrity lifestyle including how top movie stars, musicians, and comedians live their lives.
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