Frequently asked questions on C.A.C Registrations

Ans: Two or more people can form a company but according to the new CAMA One person can form a company. These people are usually called directors.

Ans: Not anyone, someone of unsound mind, someone that is declared bankrupt and A Minors cannot be a director (Minors are people under 18 years of age).

Ans: Shares is the number of rights a person owns in a company usually calculated in monetary terms. For instance, if a company is said to worth 1 million shares and one of the directors owns 700,000 share capital out of the 1 million shares, that means the person owns 70% of that company.

So, when there is a profit, such a person will get 70% of that profit and if there is a loss, such person will get 70% of the losses.

• Two preferred business names.
• Valid ID Card (which can either be your voters’ card, National ID Card, Driver’s License or International Passport).
• A Passport photograph.
• Business Address and Nature of business.
• Complete filled CAC form. Limited Company (Public Limited or Private Limited):
• Two preferred company names.
• Valid ID Card of the company directors and secretary (which can either be your voters’ card, National ID Card, Driver’s License, or International Passport).
• A Passport photograph of the company director (s) and secretary.
• The ratio of share division (if the shareholders are more than one.
• Complete filled CAC form.

Ans: After registering your business with CAC there are certain things you need to be doing annual filling and returns which will help CAC to know that your company or business is still functioning. Even if the business is not in operation you have to file your annual returns with CAC.

Ans: these are all called incorporated trustees: they are certain types of organizations that are established for social and cultural development, religious, educational, and charitable purposes. Requirement:

• Two preferred Names of the Organization.
• Aims and Objectives of setting up the organization.
• Registered Address of the organization.
• Provide 4 identical passports or the trustees.
• Provide a Valid ID Card for each of the Board of trustees.
• Logo and Letterhead of the organization.
• Complete filled incorporated trustee CAC form.

Ans: Absolutely yes, if you feel your business is growing and it is expanding, and you feel such business name can no longer serve you, then you can convert your business name to Limited company. Note: Your business name annual return must be filed up to date for smooth conversion of your business name to company limited.

Ans: yes you can definitely register your business using your home address, the good news is that you can change your business address when you have gotten a physical office or store.