Changing the registered address of a business in Nigeria is a vital step when relocating to a new office or ensuring that official communications from regulatory bodies like the Corporate Affairs Commission (CAC) and Federal Inland Revenue Service (FIRS) reach you without delay. This guide will walk you through the process, legal requirements, and critical tips to ensure a smooth address change.
Why Update Your Business’s Registered Address?
- Legal Compliance: The CAC mandates that every business maintains an up-to-date address for official correspondence.
- Tax Compliance: The FIRS and other tax authorities rely on the registered address for tax notifications.
- Business Credibility: An accurate address reflects professionalism and reliability to clients and partners.
- Avoid Penalties: Failure to update the registered address may result in fines or sanctions from regulatory authorities.
Steps to Change the Registered Address of a Business in Nigeria
- Confirm Your New Address
Ensure that your new address is valid, complete, and meets CAC’s requirements. The address should include:
- Street name and number
- Town or city
- State
- Postal code
- Prepare the Required Documents
The following documents are typically required to process the address change:
- Resolution by the Board of Directors: For companies, a board resolution approving the change is necessary.
- Special Resolution for Incorporated Trustees: Nonprofit organizations or churches need a special resolution from their governing body.
- Application Letter: A formal letter addressed to the CAC requesting the change.
- CAC Form: Complete the relevant CAC form for address change (e.g., CAC 3 for companies). This is now done online.
- Updated Address Proof: Utility bills, tenancy agreements, or other documents showing proof of the new address.
- Log into the CAC Portal
Visit the CAC’s online portal at www.cac.gov.ng. You must have your business’s credentials to log in and access the update services.
- Submit an Application for Change
Navigate to the “Change of Address” section.
Fill out the online form with accurate details of the new address.
Upload the required documents.
Pay the prescribed filing fee through the portal.
- Await Approval
The CAC will review your application and documents. If the submission meets all requirements, the new address will be updated in their records.
- Obtain a Certified True Copy (CTC)
Once the CAC approves the change, download or request a Certified True Copy (CTC) of the updated registration documents for your records.
Additional Considerations
- Update with Tax Authorities Notify the FIRS and any relevant state tax authority of your new registered address. This ensures smooth communication for tax matters.
- Notify Key Stakeholders Inform your business partners, clients, and other stakeholders of the change.
- Update Business Stationery Reflect the new address on your letterheads, invoices, and other official documents.
How Much Does It Cost to Change a Registered Address in Nigeria?
The cost of changing a registered address depends on the business structure. Fees vary based on the nature of the organization.
Service fees may also apply if using a CAC-accredited agent.
Common Mistakes to Avoid
Submitting Incomplete Documents: Ensure all resolutions, forms, and proofs are included.
Using an Invalid Address: Double-check the accuracy of your new address.
Ignoring Tax Authorities: Always update the FIRS and other tax authorities to avoid compliance issues.
Conclusion
Changing the registered address of your business in Nigeria is a straightforward process if you follow the steps and meet CAC requirements. Keeping your address updated ensures compliance, avoids penalties, and enhances your business reputation. For professional assistance, you can engage a CAC-accredited agent to manage the process seamlessly.
Need Help Changing Your Registered Address?
At CACregistration.com, we specialize in helping businesses with address updates, name changes, and other post-incorporation services. Contact us today to get started!
Adebayo Oluwole is a seasoned chartered accountant and a member of Chartered Institute of Taxation of Nigeria with over twenty years of experience. His expertise cuts across accounting, auditing and taxation. He has helped hundreds of individuals translate their dreams into reality by offering them pre and post registration services. His focus is to help SMEs grow in the marketplace.