In this post, we explained how to register a business name/ an enterprise business in Nigeria with CAC. The requirements and steps to complete it by yourself. It is important to know that you can complete it online except few states CAC is still operating manually but have have plan to online in near future.
Step 1: Pick a Business Name and make a name search. (this attract official fee of N500)
Step 2: Make payment for the statutory fees.
Step 3: Upload the required documents
Step 4: Wait for CAC approval or query
Step 5: Visit the Corporate Affairs Commission (C.A.C) to collect your hard copy certificate.
If you’re unsure of the differences between a business name and a private limited company, we’ve written a blog post explaining the difference.
Step 1: Name Availability Search
This is the first step in the business name registration process. This will let you know if your desired business name is available. This is always the first step when registering any kind of company or organisation in Nigeria.
Please not that certain words are not allowed when registering a Business Name / Enterprise such as but not limited to:
“Group”
“LTD” or “Limited”
“Investment”
Step 2: Business Name Application
In this document, you will list the nature of the business and the address of the business. You will also write down the owners of the business name. Get started on your Business Name Application.
Proprietors of a Business Name
Anyone can be a proprietor or owner of a business name. Educated or not. Even you!
Underage Owner
Any company or individual can be an owner of a business name. Even underage people can own a business name, however this requires special permission. If the owner is a minor, the CAC asks for an attestation from a magistrate, legal practitioner, or a police officer of a certain rank.
Company as an Owner
A company can also own a Business Name. In this case, the CAC asks for an attestation from the company director or company secretary.
Mixed Ownership
Owners of a business name can be a mix of individuals and companies.
Step 3: Filing
Once you’ve completed the Business Name Application. No stamp duty is required.
Registering a business name, requires having a valid, nationally recognised form of identification such as a: passport, driver’s license, permanent voter’s card, or a national ID card. These can sometimes take months to obtain. So if you’re in a hurry, they may accept a declaration of age.
Time Frame:
Register a business name in Nigeria can be completed in two (2) weeks.
Business Registration Requirements
- Completed statutory forms
- Two passport sized photographs
- Professional Certificate. This is for special service and does not apply for majority of business (optional)
What Next?