Stats: 3,187,069 members, 7,931,677 topics. Date: Monday, 26 August 2024 at 10:40 AM |
Nairaland Forum / Nairaland / General / Business / Company Registration: Questions People Ask & Answers! (11149 Views)
Min.Share Capital Corporate Affairs Commission Requires For Company Registration / Company Registration 101: How Much It Really Costs To Register Your Own Company / Guidelines For Company Registration In Nigeria (register Your Company) (2) (3) (4)
(1) (2) (3) (4) (5) (Reply) (Go Down)
Re: Company Registration: Questions People Ask & Answers! by FrontPageLawyer(m): 3:15pm On Apr 22, 2013 |
arbitrage: Yes it is called SCUML, you can also google it. The form is included in the corporate account opening form. 1 Like 1 Share |
Re: Company Registration: Questions People Ask & Answers! by LOUDmedia(m): 5:24pm On Apr 22, 2013 |
boazic: please where can one register a business name in Lagos and how much does it cost? An email has been sent to you. Thanks. |
Re: Company Registration: Questions People Ask & Answers! by LOUDmedia(m): 12:24am On Apr 23, 2013 |
FrontPageLawyer: God bless you for this info. |
Re: Company Registration: Questions People Ask & Answers! by enyhss(m): 12:46am On Apr 23, 2013 |
Hello, I intend to venture into Haulage business pretty soon. I will be transporting products for manufacturing companies & I was wondering what form of business / company registration do I need. Kindly advise. Thank you. |
Re: Company Registration: Questions People Ask & Answers! by Chibenze(m): 8:38am On Apr 23, 2013 |
I want to go into online biz like selling of domain, serving ad on my blog etc, do i need to register in cca, if yes why? Also what are the requrement to do dat |
Re: Company Registration: Questions People Ask & Answers! by omogidi234(m): 11:15am On Apr 23, 2013 |
FrontPageLawyer: @ Frontpagelawyer, Many thanks for the comment. SCUML (Special Unit Against Money Laundering) is a unit carrying into force a regulation by CBN introduced last year to check money laundering. It is in collaboration with the Ministry of Trade and Investment, I think Ministry of Commerce is involved too. It is required of non- financial institutions to get certificate of registration with them before account opening, existing account holder under these category are not exempted. Although, it is observed that the regulation was targeted at real estate, looking at the billions that exchange hands in that sectors without any formal regulation but the collaborator agencies have said that it is to prevent money laundering in non-financial institutions. Non- financial institutions according to them are; law firms, real estate firms, hospitals, architectural firms, accounting firms, private businesses etc. The regulation formally commenced in February 2013. The registration is in addition to TIN which is a collaboration between CBN and FIRS. For easy of accessiblity, I think they have desks inside CAC. I have seen their desk in CAC Lagos. Apart from these, banks are also to report any transaction above N10m to EFCC, it used to be NIFU. So many agencies. hmm. |
Re: Company Registration: Questions People Ask & Answers! by LOUDmedia(m): 1:54pm On Apr 23, 2013 |
enyhss: Hello, The choice in what type of business structure to choose is an easy one, but some salient factors must be considered. These factors include: 1. The nature of business and statutory requirement by CAC and trade associations. 2. The number of people involved in the proposed company formation 3. Availability of money to pursue the registration. LTD registrations are more expensive compared to Business Name. 4. Tax issues. You need to get expert advice on this. 5. Ownership and control issues. I will take time to write extensively on these. You can put a call through should you need more information. (pls, check my signature or profile for contact details) |
Re: Company Registration: Questions People Ask & Answers! by LOUDmedia(m): 2:04pm On Apr 23, 2013 |
Chibenze: I want to go into online biz like selling of domain, serving ad on my blog etc, do i need to register in cca, if yes why? Although not all people who do business in Nigeria register their business names or a company at the CAC. BUT, if you really want to do business that transcend beyond just a petty trader, you may just have to register a business name, at least. There are advantages of registering your business at the CAC. 1. Image. You are seen as a serious business owner who wants things done professionally. 2. Corporate Entity. You are seen as a Company, not an individual. You cant lay claim to a name you have not registered. 3. Legality. Only registered business/company names are recognised under the laws of the federal republic of nigeria to do business in Nigeria. 4. Registered companies can open a corporate bank account with their registration certificates. 5. Payments. Registered companies can receive payments (cheques) in their company names. Some customers/clients may not want to pay you in your own name, especially payments in the high range. I can continue to list these on and on... The requirement for registration will depend on the business structure you are looking at registering - Business Name (enterprise) or Private Limited Company. 1 Like |
Re: Company Registration: Questions People Ask & Answers! by boazic: 3:52pm On Apr 23, 2013 |
LOUDmedia:I'm so sorry sir. The correct email address is saylaala@gmail.com Regards. |
Re: Company Registration: Questions People Ask & Answers! by LOUDmedia(m): 6:59am On Apr 24, 2013 |
Question: I live in Rivers State. Do you serve clients outside Lagos too because I need to use your service for a new company I intend floating? Answer: Yes, we serve clients who live within Lagos, outside Lagos, and outside Nigeria. In a bid to actualising the company's vision to provide prompt and genuine company registration support services to existing and potential clients spread across Nigeria, we signed up with Trans-Nationwide Express Plc (Tranex) as our official courier partner. Now, clients in far away states outside Lagos can make a request for our company registration support service via phone or website, and get their registration documents via courier once it is ready. Whether Lagos or Kano, Nigeria or abroad, distance is no problem to us. |
Re: Company Registration: Questions People Ask & Answers! by LOUDmedia(m): 5:52pm On Apr 24, 2013 |
QUESTION: Is having a bank account a requirement for registering a company in Nigeria? ANSWER: No. You do not need to have a bank account to register a business name or company. |
Re: Company Registration: Questions People Ask & Answers! by LOUDmedia(m): 10:18am On Apr 29, 2013 |
Got more questions for us? |
Re: Company Registration: Questions People Ask & Answers! by LOUDmedia(m): 12:05pm On May 06, 2013 |
QN: I want to register a company as a HOLDING, what are the requirements? ANS: Before you can register a company as a HOLDING in Nigeria, you must have at least 3 registered subsidiary companies with common shareholders. |
Re: Company Registration: Questions People Ask & Answers! by LOUDmedia(m): 1:00pm On May 07, 2013 |
Share your questions with regards company registration in Nigeria. |
Re: Company Registration: Questions People Ask & Answers! by LOUDmedia(m): 1:12pm On May 09, 2013 |
Recently, we have been receiving inquiries from foreigners about the possibility of registering a new company in Nigeria. We wish to state categorically that we do accept and often carry on registration of companies for non-nigerians with full ownership/rights. Visit our website for more details, or send us an inquiry for more details. |
Re: Company Registration: Questions People Ask & Answers! by LOUDmedia(m): 8:50pm On May 09, 2013 |
server123: Yes, a business name CAN be changed! That's a post-incorporation service called "Change of Business Name". However, to change your business name, you must show evidence of filing of your company's Annual Returns to-date. To answer your second question. Yes, there's a penalty to pay if you go to the FIRS after 6 months of registering your enterprise. |
Re: Company Registration: Questions People Ask & Answers! by LOUDmedia(m): 6:10pm On May 10, 2013 |
[quote author=server123][/quote] Ok. Since it's only September last year, then you do not need any evidence of payment of Annual Returns. As for the change of name, 5k. |
Re: Company Registration: Questions People Ask & Answers! by LOUDmedia(m): 8:06pm On May 10, 2013 |
server123: Seriously, if you fail to apply for TIN within the specified duration (for new companies), you'll pay N10,000 as penalty. As for the bribe, it's unwise to do this, as it may thereafter be a problem. |
Re: Company Registration: Questions People Ask & Answers! by omogidi234(m): 8:25pm On May 10, 2013 |
No be small thing oh! So each time one wants to post or reply, the rules must show up. @ Server123, the penalty is 5, 000 Naira every month after the expiration of the 6 months grace period. |
Re: Company Registration: Questions People Ask & Answers! by LOUDmedia(m): 8:38pm On May 10, 2013 |
omogidi234: No be small thing oh! So each time one wants to post or reply, the rules must show up. I was at the FIRS office today, and I still heard a Tax official telling someone who wanted to get his TIN Number to pay N10,000 penalty because he's just registering for TIN when his biz name cert read May 2012. |
Re: Company Registration: Questions People Ask & Answers! by LOUDmedia(m): 6:36am On May 13, 2013 |
Happy new week!!! Get your company registered this week! |
Re: Company Registration: Questions People Ask & Answers! by LOUDmedia(m): 4:05pm On May 28, 2013 |
Incorporating a company from the comfort of your home hasn't been this easy! Contact us now!!! |
Re: Company Registration: Questions People Ask & Answers! by LOUDmedia(m): 4:04pm On Jul 03, 2013 |
Question: Can a Holding Company be used to transact business? Answer: YES. Although it is usual that the sole purpose of a ‘holding’ company is the legal ownership of other subsidiary companies, a holding company is not restricted from producing goods and delivering services. --- You got questions to ask? Send us your questions now! |
Re: Company Registration: Questions People Ask & Answers! by LOUDmedia(m): 10:43am On Jul 04, 2013 |
Q: How many subsidiary companies are required for the formation of a Holding company? A: At least, 3 subsidiary companies. |
Re: Company Registration: Questions People Ask & Answers! by gomezblue: 5:47pm On Aug 22, 2013 |
Do you have concerns about incorporating that proposed name you love, why not contact PENDOK? A CAC accreditated corporate consultancy firm who has assisted over 100 clients in Nigeria and diaspora in the incorporation of their business name, limited liability companies, NGOs etc. With our consultancy, incorporation, taxation and services model, we serve you better with fast delivery at affordable costs. Services ranging from corporate concerns, corporate audits, opening bank account.Visit us on www.pendok.com,via email at inquiries@pendok.com or call 08107804290. |
Re: Company Registration: Questions People Ask & Answers! by LOUDmedia(m): 12:21pm On Dec 30, 2013 |
Q: How do I know if a company name I intend to use isn't already registered at the CAC by someone else? A: it's pretty difficult to ascertain the availability or non-availability of a company name without first of all submitting it for a search at the CAC. However, I will advise clients to be more creative in coming up with a company name because the CAC has one million and one company names on its database already, and this might just include that name you are about submmitting or a simmmilar one. Google search could provide direction to you in case you want to know if a company had existed in Nigeria or not.m although, there is no guarantee that the name had been incorporated at the CAC. VConnect has more list of Nigerian company names than any other database. |
Re: Company Registration: Questions People Ask & Answers! by LOUDmedia(m): 7:01pm On Dec 30, 2013 |
Q: Our product and service is in the oil industry. Do we need Registration with the Department of Petroleum Resources? A: Since your business "products and services is in the oil industry", yes you need to register with the Department of Petroleum Services for "Oil and Gas Industry Service" permit/license. However, that is AFTER the company has been duly incorporated at the CAC. Validity of DPR License is 1 year. |
Re: Company Registration: Questions People Ask & Answers! by OmerianConsult: 9:00pm On Dec 30, 2013 |
We heard of a 50% reduction in company registration fee. How much is the CAC fee for registering a business club? |
Sterling Bank Gives Customer Smart Phone For Opening Sterling Plus Account: Pics / "800,000 Firms Have Never Paid Taxes In Nigeria" - Adeosun / Netflix Subscription In Nigeria: Step-By-Step Guide
(Go Up)
Sections: politics (1) business autos (1) jobs (1) career education (1) romance computers phones travel sports fashion health religion celebs tv-movies music-radio literature webmasters programming techmarket Links: (1) (2) (3) (4) (5) (6) (7) (8) (9) (10) Nairaland - Copyright © 2005 - 2024 Oluwaseun Osewa. All rights reserved. See How To Advertise. 45 |