Has cac increase price for business registration news
You're referring to the recent news about the increase in the Certificate of Authority to Conduct Business (CAC) registration fees in Nigeria!
Yes, it's true. The Corporate Affairs Commission (CAC) has increased the fees for business registration in Nigeria. The new fees took effect from January 1, 2022.
Here are the new fees:
- Business Name Registration: N10,000 (previously N10,000)
- Limited Liability Company (LLC) Registration: N120,000 (previously N90,000)
- Public Limited Liability Company (PLLC) Registration: N250,000 (previously N200,000)
- Incorporated Trustee Registration: N120,000 (previously N90,000)
- Cooperative Society Registration: N20,000 (previously N15,000)
- Non-Governmental Organization (NGO) Registration: N20,000 (previously N15,000)
The CAC attributed the increase to the rising costs of operations, including the cost of maintaining the commission's database, staff salaries, and other expenses.
It's worth noting that the CAC has also introduced a new fee for the online registration of businesses, which is N10,000. This is an additional fee for businesses that want to register online.
The increase in fees may affect small businesses and startups, but it's essential to comply with the regulations to ensure the legitimacy and credibility of your business.
If you have any further questions or concerns, feel free to ask!