Running a business in Nigeria is safer when you register your business with Corporate Affairs Commission (CAC). We cannot really sit and count on the gains of business name registration in Nigeria as the result you will get is incomparable to a business that is not registered.
What does business name registration mean
The specific meaning of business name registration is to submit your business name to your state to get it on their registry of business names.
How to Register a Business name in Nigeria
The processes and how you can register a business name in Nigeria is simple and we will cover this on this post.
At the end of this article you must have found your way and learned How to Register a Business name in Nigeria. When you register your business with corporate affairs commission you will forever own the business and nobody can tamper with the exact name you chose on the course of your business name registration in Nigeria.
Business name registration means that you are the rightful owner of the business. This name registration is called a “doing business as” or business license. The purpose is to let people know who owns your business.
There are few steps involved with business name registration in Nigeria. Below, we will be discussing all the steps you need to register your business with corporate affairs commission. Business registration with the corporate affairs commission is very simple. Lets dig into this justly.
How to Register a Business name in Nigeria
To register a business name in Nigeria follow below steps:
Name Reservation – To start this process of business name registration, you have to pick a name that suits your business. This can be done online by applying to the Corporate Affairs Commission (CAC). You have the option to suggest two alternate names for your business which afterwards the CAC will conduct a search in its database to ensure that the name is not already in use or there is no similar name already in use. If the CAC approves the name, then it will reserve the name for you for a 60-day period. During this period it is expected that you will complete the registration process for your business name.
Complete the Business Name Registration Forms – This follows the same pattern as with step 1 above although you will need to provide below information required for the exercise.
All that are needed to register your business name.
- Approved Name of the Business
- General Nature of the Business
- Address of the Business
- Name, Address, Occupation and other details of the Proprietors of the Business
- Signature of the Proprietors
Payment of CAC Filing Fees – The third step concerns the payment of the fees to CAC. This is usually done online but you have an option of paying through the bank.
Submission of Forms – Once the payment has been approved, you may then submit the forms online, the CAC will review the documentation and if all is in order the CAC will then notify the registrant that the application has been approved, and the Business Name Certificate is ready for collection.
If you have completed the above steps then you only have to wait for about 1 week, depending on the workload of the CAC at the time.
The Recommendation given by CAC by themselves
Registration steps for Business Names
- Check for availability of the Business Name (click here). Read more about name reservationand Reserve a new Name (click here)
- Complete pre-registration form – CAC-BNo1 and upload relevant registration documents(Online using Company Registration Portal)
- Pay filing fee Check the Fees for our Services here
- Now registration is end-to-end on the COMPANY REGISTRATION PORTAL (CRP) with electronic Certificate of Registration and Certified Extract of registration information
Note: Individual/Proprietors can register business names without the services of the legal practitioner, chartered Accountant or Chartered Secretary.
The above is how to register a business name in Nigeria with no delay
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