How To Register A real Estate Company

HOW TO REGISTER A real estate BUSINESS  IN NIGERIA

If there is any business in Nigeria that is truly lucrative and extremely profitable in recent time then it has to be Real Estate. Most  top billionaires in Nigeria leverage on real estate to earn a good living and as such real estate  has become a business money spinner.

Currently the real estate industry is a billion dollar industry as so many people are making millions and billions from  it. Today, in This article we want look through how intended real estate investors can register their real estate company.

Just like for every other businesses, registering a real estate company follow the same procedures.

  for those individuals who are interested in registering their real estate business as an entity in Nigeria under Part B of the Companies and Allied Matters Act. This process is known as Business Name Registration. A Registered Business Name is one of the 3 general company structures which an individual can register in Nigeria, the other 2 are incorporated companies and incorporated trustees.

There are many benefits (and detriments) to registering a business name for real estates as opposed to an incorporated company for real estate, these you can read  more in detail here – Limited Liability v Business Name. To register your real estate business name in Nigeria, the following are the steps to take:

But first It should be noted that the minimum number of persons required to form a company is two (2), with the age capacity not less than 18 years. The only exception for a person less than 18 years to register a company is where there are two or more adults involved in the formation of the company.

Requirements to register a limited liability company For Your Real Estate Company

The first step required by the applicant is to choose two suitable proposed names for the company. Where this is done, an availability check will be conducted on the CAC online portal to find out if the name is available and not already in use.

1. Choosing the type of company to be registered whether a private limited company or private unlimited company or company limited by guarantee.

1. The objectives and business of the company must be provided.

1. The registered principal address of the company.

1. The share capital and shareholding formula among shareholders will be required.

1. The particulars of a minimum of two (2) Directors will be required. A copy of their means of identification such as voter's card, national ID, drivers' license or international passport.

1. Particulars of the company secretary (one of the directors may also act as the Secretary of the company)

1. The applicant will be required to furnish details of the shareholders of the company. Details such as names, occupation, residential address, email address, mobile phone number and means of identification such as driver's license, international passport or national identity card. It should be noted that the directors listed can also hold the capacity of shareholders in the company if desired.

1. The memorandum and Articles of association of the company to be registered which is advisable to be drafted professionally by a Legal Practitioner. However, the CAC has provided a generic MEMART, which any new company can be adopted.

• Form CAC 1- Availability search and reservation of name

• Form CAC 1.1-Pre-registration form.

If you would like us to assist you to register your business name for you, please note that our fee for this is N20,000. If you are interested in this service, please click ASSIST US

IN CONCLUSION

The applicant will also be required to pay a filing fee to the CAC and stamp duty paid to the Federal Inland Revenue Service (FIRS).

Evidence of payment at the CAC and other requirements:Incorporation can be commenced online by an individual applicant or through a CAC accredited agent at the CAC's online portal.