Years back, your business name registration is not that easy, it will mostly take you several days before you can finish up, but in this modern world it no longer a hard task, today we will drop the tips on how to register a business name in Nigeria.
As an entrepreneur, business name registration is one of the Essene requirements for beginning a business, do you prefer to begin a business and in need of some actual ideas, check out this article Business strategies you need to know
All most all investors will be concern in a company who are registered, for an entrepreneur to make the business eligible for specify benefit it either from the investor or government.
In Nigeria Corporate and Affairs Commission (CAC) are responsible for business registration. This is an autonomous body established in 1990 under the Companies and Allied Matters Act. They are task with the regulations and management of companies in Nigeria.
In this article we will give you details on how to register a business name in Nigeria through the Corporate Affairs Commission (CAC).
READ RELATED POSTS
Here are the tips on how to register a business name in Nigeria
1. Choose a Business Name
Sometime choosing a business name is not that easy for some people, your business name needs to be identified with a brand name, so it very important to choose a name that is best suitable for your business.
You also need to do a quick search on the internet on which name you prefer and also try to have a backup plans, this will enable 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 5 pm and it costs just NGN500.
When you wrap up the name reservation, you can be able to proceed to the registration of your business name proper, using CAC online registration portal, you will also need to complete a pre-registration firm (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.
- Application form
- Filing fee receipt
- Means of Identification for the proprietors of the business.