How To Register A Cooperative Society With CAC

A cooperative society is a voluntary association where people with common goal work together. 

Cooperative societies  are mostly established to provide economic benefits to their members, such as lower prices on goods and services or a sizable return on their investments.

However, If you are looking to register a cooperative society with the Corporate Affairs Commission (CAC), you need to follow these steps below:

1. Meet the requirements. You need at least 10 members who are all at least 18 years old. Your cooperative society must also have a similar interest, such as occupation, residence, or religious affiliation. Finally, your cooperative society must have a clear  purpose and set of objectives.

2. Prepare the necessary documents.

   • A completed application form (Form CAC 2.4)

   • A copy of the cooperative society’s constitution and bylaws

   • A copy of the cooperative society’s resolution to register with CAC

   • A list of the cooperative society’s members, their names, addresses, and occupations

   • A copy of the cooperative society’s feasibility study

   • A non-refundable application fee

3. Submit the documents to CAC. The documents should be submitted in person, by mail, or online.

4. Process the registration. Once CAC has received your application and supporting documents, they will process your registration. This process may take up to two weeks.

5. Receive your certificate of incorporation. Once your registration is completed, you will receive a certificate of incorporation from CAC. This certificate will serve as proof that your cooperative society is a legally registered entity in Nigeria.

Additional Information On How To Register a cooperative society with CAC

• Before you start the registration process make sure you meet all the requirements.

• You should carefully arrange all supporting documents.

• Submit your application along with the required documents to CAC as soon as possible.

• Follow up with CAC latest news and regularly check on the status of your registration.

• Once you have received your certificate of incorporation, make sure to keep it in a safe locker.

Why You Should register a cooperative society with CAC

There are a number of benefits to registering a cooperative society with CAC, which are:

• Legal Recognition: CAC certificate gives your cooperative society legal recognition as a different entity from its members. This indicates that your cooperative society can enter into contracts, own property, and sue and be sued in its own name.

• Access to government funding: A CAC certificate will grant you eligibility to apply for government funding and grants. This can help your cooperative society to grow and expand its operations.

• Tax benefits: Registered cooperative societies are qualified for a number of tax benefits, such as exemption from income tax on certain types of income.

• Increased credibility: A Registered cooperative society shows potential members and partners that their cooperative society is a serious and legitimate.