How to Register a Business Name in Nigeria (4 Simple Steps)

Starting a business in Nigeria often involves registering a business name. This process is important for gaining legal recognition. It is also needed for operating within the country’s regulatory framework. 

The Corporate Affairs Commission (CAC) handles registering business names in Nigeria. It is the primary authority for overseeing business registrations.

In this blog post, we will discuss the steps on how to register your business name in Nigeria.

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How to Register a Business Name in Nigeria

Step 1: Choose and Reserve a Business Name

  • Visit the CAC website (https://www.cac.gov.ng/) and click on the “Name Search” tab.
  • Enter your proposed business name and click “Search.”
  • If available, reserve the name for 60 days by paying a ₦5,000 reservation fee. For more details on reservation fees click HERE

Step 2: Complete the Business Name Registration Forms

CAC Registration Form
  • Fill out the online registration form , including information about you (business owner), activities, and the proposed name.
  • Upload necessary documents, such as passport photographs, proof of house, and a utility bill.

Step 3: Pay For a Filing Fee

Upon payment of the filing fee, you will receive a receipt of payment. Note that you can pay the applicable registration fees online using a debit or credit card.

Step 4: Submit the Application

  • After completing the form and paying fees, click “Submit Application.”
  • The CAC will review your application within 24 hours to a week and provide feedback.
  • If approved, you’ll receive an electronic Certificate of Registration.

Step 5: Seeking Professional Assistance

While it’s possible to handle registration independently, consulting legal or business experts is advisable for compliance, addressing complexities, and expediting the process. Professionals ensure adherence to regulations, facilitating a smoother registration experience.

You can also read how to register your business with Standard organization of Nigeria (SON).

What Are the Documents Required for Registering a Business Name in Nigeria?

  1. Completed Business Name Registration Form (CAC Form BN1)
  2. National Identity Card (NIN) slip for each proprietor/partner
  3. Two recent passport photographs for each proprietor/partner
  4. Proof of address for each proprietor/partner (e.g., utility bill, bank statement, rent agreement)
  5. Evidence of consent from any third party whose name is included in the proposed business name
  6. Statutory declaration of compliance by a legal practitioner
  7. Partnership deed (if registering a business name with more than one proprietor/partner)

How Much Does it Cost to Register a Business Name in Nigeria?

According to the CAC, the official filing fee for the registration of a business name in Nigeria is N10,000 (Ten Thousand Naira Only). This fee covers the cost of the registration form and other necessary documents.

Conclusion

Registering a business name in Nigeria is a simple process. You can do it online or in person at the Corporate Affairs Commission (CAC) office. To register, you will need to complete an application form, provide supporting documents, and pay the required fees. Once your application is approved, you will receive a Certificate of Registration of Business Name.

Categories: Business
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