So your business has finally gotten that shiny Corporate Affairs Commission (CAC) certificate? Correct! That’s a huge win, no doubt. But if you think the work is finished, you’re making one of the biggest mistakes many Nigerian entrepreneurs make.
The truth is, registration is just the first step. The real test, the journey of compliance and corporate governance, begins after incorporation. To avoid hefty penalties, keep your business credible, and unlock serious growth opportunities, you must master the post-incorporation game. It’s not just about paperwork; it’s about professionalism!
5 Critical Post-Incorporation Services You Need to Know
Annual Returns Filing with CAC
This is a mandatory yearly statement filed with the CAC to confirm your company is still active, operational, and in good standing. Failure to file attracts daily default penalties and may even result in your company being struck off the register.
Tax Registration and Compliance (TIN, FIRS, LIRS)
Beyond the automated Tax Identification Number (TIN), you need to register with the Federal Inland Revenue Service (FIRS) for Company Income Tax (CIT) and Value Added Tax (VAT), and with the relevant State Internal Revenue Service (LIRS/SIRS) for Pay-As-You-Earn (PAYE) for your employees. Compliance here is non-negotiable!
Statutory Record Keeping Every company must legally maintain statutory books at its registered office. This includes the Register of Members, Register of Directors and Secretaries, and Minutes of Board and General Meetings. These records are vital for proving ownership, decision-making, and legal due diligence.
Updating Company Particulars Your business will evolve. Any significant change, such as a change of directors/shareholders, an increase/reduction in share capital, or a change of registered address, must be formally filed and updated with the CAC within the stipulated time frame. Outdated records can halt transactions and scare off investors.
Industry-Specific Licences and Permits : Depending on your sector, your CAC registration may not be enough. Businesses in finance, health, food, and telecoms often require additional registrations or permits from bodies such as NAFDAC, SON, CBN, or NCC. Research and obtain these specific operating licences before you commence business entirely.
At Beebot, we specialise in registering your business name with the CAC, offer post-incorporation services, help set up a bank account, and get your accounting and bookkeeping in order with the help of our trusted financial partners.
Book a meeting with us today to get started on your way to becoming a compliant business owner.