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Business name registration is as important as getting a name for your business. So many entrepreneurs make the mistake of starting a business without registering it or at least reserving the name. Only to realize the name isn’t available in the Corporate Affairs Commission (CAC) data base, having already gone public with the identity.
One of the most important step you need to take at the early stage of your business is to register your business entity. Today it’s very simple to do so all by yourself. You only need the help of someone else if you simply don’t have time to do it for yourself and followup as expected of you.
In this article, we shall be highlighting the following steps needed to complete your business registration online.
First, a Registered business title is one of the 3 general company structures which an individual can register in Nigeria, the other 2 are incorporated companies and incorporated trustees.
To complete a business name registration in Nigeria, the following steps taken:
Create an account on CAC portal. Go to https://services.cac.gov.ng/ and click on the Register button. Fill out your basic details. Confirm your email and get ready for step 2.
Note: When registering your business name, ensure to select the closest CAC office location for the collection of your certificate.
Choose and Reserve a Name – The second step is to decide on what name to use to register your business, the process is done online. You will apply to the CAC and suggest two alternatives for your business name. 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 business name registration process. This service will cost you only N500 plus some Remita charges of about N100 or so. You pay with your debit card. Note that for each name search, you will have to pay this fee again. So before you go about it, make sure the name you are submitting is unique to you to avoid waste of money.
Take not of your approval code sent to you email. Copy it, login to your account of CAC, click on New Registration. Input your approval/ availability code, and complete the Business Name Registration Forms that pops up.The information required to be completed includes:
- 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 ( This can be appended after the registration)
Payment of CAC Filing Fees – The payment of the fees can be done online or can be completed in a bank.
Submission of Forms – Once the payment has been approved, you may then submit the forms online.
File Uploads- You are required to download the application forms, fill it manually and append your signature and passport photograph. The head over to http://docupload.cac.gov.ng/ to upload the form alongsode your payment receipt, ID Card and Notice of availability.
Once all these 4 documents have been submitted, you can just wait for not more than 48 hours to get approved. However, depending on how accurate your filling is, you might be queried by the commission and your application can be kept pending until you resolve those queries and re-upload the aforementioned documents.
The entire process for your business name registration should ideally take about 1 week. You will get an email notification that your application is approved and ready for collection. You just proceed to the nearest CAC Collection centre to collect your Certficate. Note that you must print out and go with all 4 documents you uploaded with 2 passport photographs before you can be given your certificate.
If your still want this whole process managed by us, then you can send us a message at email@example.com