An individual or group of individuals who intend to register a business in Nigeria must register with the Corporate Affairs Commission (CAC). A registered business is a requirement for accessing most public and private loans and grants. This can be done personally by the individual or through the services of an accredited lawyer or accountant.
Steps for Registering A Business Name
Registering a business name can be done online through the Corporate Affairs Commission.
- To begin, you are expected to create an account. Complete the necessary information on the form(s) displayed.
- The next step is to check for the availability of the Business Name. It is advisable to have written down at least three (3) business name choices. Once you have some options that are relevant to your business, you can do a name search to see if anyone has the name you have picked. Simply type your business name into the search bar then click on “Business Name” on the tab to view the list.
- Once you have selected a name, you pay a fee for reservation of name. The fees are currently indicated on the website. Note that when you start the process early in the day, your request can be attended to before the end of the day.
- As soon as you are done with the name reservation, you can then proceed to register your business name. You are expected to complete pre-registration form (CAC-BN01) which can be found on the Company Registration Portal once you are logged in to your account.
- You are expected to pay a filing fee. The fees are currently indicated on the website. Once you pay the filing fee, you will receive a receipt of payment.
- You are expected to prepare the signed scan copy of your pre-registration document for upload. The following documents are required for upload:
- Application form
- Filing fee receipt
- Means of identification for the proprietor(s)
- You are to upload the scanned documents for processing.
- You will be sent a notification when your certificate of incorporation is complete and you can then arrange to pick it up in the prescribed manner and at the pre-determined location or by courier.