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Trust Lexantaar Team, the CAC registration experts. With 5+ years of experience and a deep understanding of the registration process, we provide reliable and efficient services to get your business up and running.
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Frequently Asked Questions
Welcome to our FAQ section! Here, we address common questions and provide clear, concise answers
The Corporate Affairs Commission (CAC) is the government body responsible for regulating the formation and management of companies in Nigeria. It ensures that businesses comply with the legal requirements for registration and operation.
Registering your business with the CAC provides legal recognition and protection. It allows you to operate under a registered business name, access financial services, bid for government contracts, and build credibility with customers and partners.
No, it is not legal to operate a business in Nigeria without registering with the CAC. Unregistered businesses are considered illegal and may face penalties, fines, and potential closure by regulatory authorities.
1. Legal Recognition: Your business becomes a legal entity.
2. Credibility: Enhances trust with customers, suppliers, and partners.
3. Access to Loans: Makes it easier to access business loans and grants.
4. Intellectual Property Protection: Protects your business name from being used by others.
5. Contract Bidding: Eligible to bid for government and large corporate contracts.
1. Completed registration forms
2. Identification documents of the directors and shareholders
3. Company’s Memorandum and Articles of Association
4. Proof of payment of the registration fee
The registration process typically takes between 1 to 3 weeks, depending on the type of business entity and the completeness of the documentation provided.
1. Annual returns are mandatory filings that provide the CAC with updated information about your company. This includes details on the company’s directors, shareholders, financial statements, and any changes in the company’s structure.
2. Filing annual returns keeps your business compliant with the law, avoids penalties, and maintains your company’s good standing.
Failure to file annual returns can result in penalties, fines, and the eventual striking off of your company’s name from the CAC register. This means your business will no longer have legal standing and cannot operate lawfully.
You can file your annual returns by submitting the required forms and documents to the CAC either online through the CAC’s portal or by visiting a CAC office. Lexantaar Consulting LTD can assist you in preparing and filing these returns accurately and on time.
Yes, you can update your company information, such as changes in directors, shareholders, or registered office address, when filing your annual returns.
Yes, you can update your company information, such as changes in directors, shareholders, or registered office address, when filing your annual returns.
At Lexantaar Consulting LTD, we have extensive experience and expertise in handling CAC registrations and compliance. We provide personalized support, ensuring a smooth and efficient process, allowing you to focus on growing your business.