How to Register a Business Name in Nigeria
A complete step by step guide on how to Register a business name in Nigeria.
Let’s take a deep dive into the process to registering for a business name with the Corporate Affairs Commission (CAC) of Nigeria.
1. Choose a Business Name and Check For Availability
Choosing a business name can be quite tasking sometimes. Your business name needs to be identified with a brand name. It is important that you pick a name that is relevant to your business.
You should do a quick search on the internet on the names you choose and have up to three backup plans. This is to ensure you have at least chosen the names that are not in use to the best of your knowledge.You can also use a platform like Namelix, a digital tool to help with finding a name that fits your business.
2. Complete Your Pre-registration Form to Register Your Business Name
In the past, business name reservation at the CAC took days before it came back with a result. Today, it only takes the same day if you submit your request before 5pm and it costs just NGN500.
Once you wrap up with the name reservation, you can then proceed to the registration of your business name proper. Using the online registration portal, you will have to complete a pre-registration form (CAC-BNo1).
3. Pay For a Filing Fee
Upon payment of the filing fee, you will receive a receipt of payment. Note, you can make Payment directly from the website portal or straight to the bank. The cost of business name registration depends on the type of company you are trying to register.
4. Prepare Your Documents For Upload
You will need to prepare a signed copy of the pre-registration documents and upload a scanned copy to the website for processing. The following are the requirements for registering a business name.
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Filing fee receipt
Means of Identification for the proprietors of the business.
5. Submit the Original Copies of Your Documents
You will have to submit the original signed copies of documents uploaded in step 4 to the CAC office. You will do this in exchange for your certificate and the Certified True Copies of the documents.
Hopefully at this point, you are fully equipped with the knowledge on how to register a business name in Nigeria.
Please note that you do not need the services of a legal practitioner, chartered secretaries, or any other third party to register your business name. This is a concise shared knowledge.