How To Register Business Name With CAC Nigeria – As you are thinking of opening a business in Nigeria, you should also be thinking of how to register business name in Nigeria. It is a very crucial aspect of business in Nigeria. registering your business name ensures your name is not legally taken by another business. This guide is for all individuals and business owners who want to register their businesses with the Corporate Affairs Commission.
Although Business name registration is not that conversant with Nigerian businesses, the high players are aware of the immense benefits associated with business name registration in Nigeria. For instance, one of the ways of obtaining loans in Nigeria is through business name registration. This is because, loan providers prefer dealing with registered businesses.
In this work, we will ensure we detail everything you will need to know to ensure you are not left behind. The processes listed here are very detailed to guide anyone who goes through this.
The professional body in charge of registration of corporate businesses in Nigeria is the Corporate Affairs Commission (CAC). Presently in Nigeria, for a company, business, firm etc., to register with Corporate Affairs Commission, it must be able to meet the basic requirements for such registration; operating an unregistered business in Nigeria is illegal and attracts the wrath of the law.
How To Register Business Name With CAC Nigeria
Intending businesses or organizations who want to register their business name with Nigeria Corporate Affairs Commission are advised to follow the guideline in the steps below. Let’s see How To Register Business Name With CAC Nigeria.
- Conduct a name search
- Fill registration form
- Pay filing fee
1. Conduct Name Search
The first step in business name registration is to conduct a name search to ascertain if the intending business name has been registered before by another organisation. This process can be achieved by using one’s CAC-CRP account. If the business names you intend to register already exists, you may consider changing your business name or adding one or two alphabets or number to differentiate it from the already registered business. To check your business name, follow this link: http://publicsearch.cac.gov.ng/
2. Fill registration form
After you have found a name that isn’t already selected, then next is to fill the registration form. So, fill the registration as well as the statutory forms meant for issuance of certificate of incorporation in Nigeria. The applicant should attach two recent passports sized photographs to the form filled. To do this, follow this link here: http://services.cac.gov.ng/login
3. Pay filing fee
Find out the amount of money payable in respect of filling and also for certificate of incorporation and the amount involved and proceed to pay the filing fees at the Corporate Affairs Commission; then submit the statutory application form that states the name of the business. Remember there could be other little charges payable in respect to the certificate of incorporation. Find out from the authorities and pay to the designated bank accounts.
Notes: Individuals, who want to register their business name, can do so directly with Corporate Affairs Commissions without the assistance of a lawyer, chartered secretary or accountant. Below are the fees for business name registration.
|S/N||SUBJECT||FEES in Naira (₦)|
|1||Reservation of Name||500|
|2||Registration of business name||Reduced from 10,000.00 to 5,000 till 31st Dec. 2018|
|3||Filing of notice of change of business name||5,000.00|
|4||Filing of notice of change in business address||1,000.00|
|5||Filing of notice of change in proprietorship||1,000.00|
|6||Filing of annual return||1,000.00|
|7||Filing of notice of cessation of business||1,000.00|
|8||Filing of other documents (miscellaneous)||1,000.00|
|9||Search on business name file||1,000.00 per business name file|
|10||Certified true copy of business name certificate of registration||5,000.00|
|11||Certified true copies of other documents||2,000.00 per document|
4. Prepare the signed scan copy of your pre-registration documents for upload as follows:
- Form CAC1.1
- Memorandum and Article of Association (MEMART)
- Recognized form of identification for Director(s)/Subscriber(s) and Secretary
- Evidence of payment to CAC
5. Upload the scanned documents for processing. (click here)
6. Submit the original copies of the documents uploaded at step 6 (Form CAC1.1, MEMART, etc) to the CAC office you had selected in exchange for your certificate and the Certified True copies of the documents.
If you have any question on How To Register Business Name With CAC Nigeria, kindly use the comment box below and we shall attend to you immediately.