Filling out company registration forms the right way
This blog teaches you how to properly fill out the LLC Set of Forms for the CAC. So if you plan to register a company soon, bookmark this page.
The LLC Set of Forms costs 500 Naira. It includes the following documents:
- Statement of Share Capital and Return of Allotment
- Particulars of Person Who is the Company Secretary of a Company or Any Changes
- Notice of Situation/Change of Registered Address
- Particulars of Persons Who Are First Directors of the Company
- Memorandum of Association and Articles of Association
Here’s what you must know about each of the documents:
On this form there are 6 key fields. According to CAC’s Customer Service, only A, B, C are required. Fields D,E,F are not required, so we won’t cover them. Two copies of CAC 2 must be submitted to the Corporate Affairs Commission when complete.
(Field A) Number of shares allotted payable in cash
- One million (1,000,000) share capital is the minimum share capital (recommended). Don’t worry, you’re not required to pay 1 million naira.
- It costs 19,000 naira for 1 million shares. Each additional million shares costs 5,000 naira. Payments can be made at a bank or on the Remita platform. If you pay on Remita, you must submit the files the same day or you may lose your money. (Don’t ask me why) So we suggest making this payment at the bank.
(Field B) Nominal amount of shares so allotted
- In other words, how many total shares will your company have? I chose 1 million shares with a 1 million naira share capital. Thus the value per share is 1 Naira.
(Field C) Amount paid or due and payable on each share
- C = B ÷ A gives the value per share
The company secretary can be anyone. However, CAC strongly advises against having the primary director as the company secretary. I decided to follow this advice when I made my brother company secretary. Thanks bro! Also, the company secretary must be appointed by two other directors., so you will need at least 3 directors. You must submit two copies of CAC 2.1 to the Corporate Affairs Commission.
This form is very straight forward. It requires signatures from 1 director and the company secretary.
This form is a little tricky, because it seems that only a solicitor can complete this form. However, anyone can declare this oath. The declaration must be sworn before a notary piblic or at any of the following courts of law: Magistrate Coury, State High Court, Federal High Court. I chose to declare my oath at the Lagos Federal High Court because it was convenient and most affordable.
Again, very straightforward. It requires the biodata and signature of each director. Make photocopies of valid identification for each director. Valid forms of identification are:
- Data page of the Nigerian Passport
- National ID card
- Nigerian Driver’s Licence.
Keep in mind that no other forms of identification will be recognized as valid. You will submit two copies to the CAC of the Particulars of Persons Who Are First Directors of a Company (CAC 7).
This document is NOT as straightforward as it looks. Seek help with drafting the company objectives. Many people receive a query for unsatisfactory company objectives. Make 3 copies of this document and bind them.
Once the LLC set of forms are completed, you need to obtain the Stamp Duty from the FIRS office. If you’re located in Lagos you may go to Sterling Towers located at 20 Marina.
Be sure to check out our other Company Registration Posts
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