CAC improves pre, post-incorporation processes for MSMEs

Corporate Affairs Commission (CAC), has introduced a pre-incorporation and post-incorporation process aimed specifically at improving the ease of doing the business process for Micro, Small and Medium Enterprises (MSMEs).

CAC noted on its website that for the pre-incorporation stage, company names can now be checked before making reservations, in a bid to reduce the number of denied name reservations and the attendant costs.

“Users will now have an option to check for conflicting names before making a name reservation to reduce the number of denied name reservations and the attendant costs.

“Users will no longer be directed to the Upload a segment of the website but will now be prompted to upload signed incorporation documents as soon as the payment of filing fees and stamp duties are made.

“In addition, Certificates of Incorporation will now be printed by the accredited user.”

The Commission said that for the post-incorporation phase, after registration, a notification will be sent to the registered email, requesting the creation of an online profile by the accredited users.

“When a company is incorporated, the portal sends a notification to the company’s registered email prompting it to create online profiles of accredited users who it intends to engage for purposes of its post-incorporation filings.

“The Company will then enter details of the users and their email addresses. Once this is completed, the accredited user receives an email with login details, which grants them access to the portal to process post-incorporation filings on behalf of that Company.”