Registration of business name is an important begging in your adventure as an entrepreneur. A registered business name or company is an asset to any entrepreneur. It is important to seek legal advice before registering a business name or incorporating a company as an entrepreneur.
Today, I will be giving you A STEP-BY-STEP GUIDE TO REGISTERING BUSINESS NAME AS AN ENTREPRENEUR IN NIGERIA as normal way, you know I will include all what you need. Just follow me:
Business Name Registration in Nigeria (2019 Process)
Table of content
- Choose a business or company name
- Visit Corporate Affairs Commission (CAC)
- Certificate of registration
Choose a business name
Here it is important that your business name is related to the product or service you intended to sell to the people.
Visit Corporate Affairs Commission (CAC)
This aspect involves two ways:
- Visual registration
- Online registration
I’ll like to discuss on both methods so that you can choose the one you like.
Physical business registration
Here, you will need to visit CAC office and when you get there the first step is to obtain a search form (CAC Form 008). The form is to search for availability of a proposed name I.e to check whether or not a business or company has not registered with the same or a name extremely similar with your proposed name.
This form is the application for registration of business or company name which is armed at preventing identity problem with existing business or company name already registered and should clearly state the name that you intend to register.
After a week or two you will need to check back at the CAC office and if your business or company name is not available you need to propose other names. If your proposed name is available, you will obtain another set of forms, Registration of Business Name or company and pay registration fee.
Upon payment of the registration fee, the set of form to be obtained include ATTESTATION FORM and you will proceed to the court to sign the oath after filling the form.
Certificate that shows registration of business name
After returning your set of forms it is processed and certificate issued confirming your business registration. It is however to note that this is done in consultation with your lawyer.
Online registration method
Not every body is chance to visit CAC office, so you’re a busy you can go for online business registration method. This goes as;
STEP 1: CHECK FOR AVAILABILITY OF PROPOSED COMPANY NAME (Check it here)
As you can see on the screenshot above, there is place left for you to input your propose company after that you need to verify the captcha. This is done to confirm you’re not a robot.
STEP 2: COMPLETE PRE-REGISTRATION FORM
This is done immediately after you have checked your proposed name. You would have to do this online using the company registration portal
As you can see on the above screenshot, you have to complete a form and after that they will send you a mailing message on the email you used during the registration.
You have to check your mail and click on the verification link they sent to you.
If you have a successful verification, it will appear like the screenshot above.
Note that 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
STEP 3: PAY FILING AND STAMP DUTY FEES
This can be done online or you go to bank to deposit.
I recommend online transaction.
STEP 4: SCAN AND UPLOAD THE COPY OF YOUR PRE-REGISTRATION DOCUMENTS
The next step after payment is to scan all the documents you used during the PRE-REGISTRATION and then go ahead to upload it on their portal.
STEP 5: SUBMIT THE ORIGINAL COPY OF THE DOCUMENTS YOU UPLOADED
Once your payment has been approved, the next step for you is to submit the original copy of the documents you uploaded. After submission, the CAC will check if all your documents are in order and if so they will notify you that your application is approved. And now your certificate is ready for collection.
Please note that the entire process should take up to a week.
Below are some frequently asked questions;
What if my proposed Business name has already been choose?
If you read the articles very well, you would notice I have already answered the question in the article. But well, if your preferred name has already been choose you would have to refill another form and select a new name.
How much is business name registration in Nigeria?
It cost a Total of N10,500 to Register Business in Nigeria.
5,000 Naira for Reservation Of Name
10,000 Naira for Business Name Registration
Some additional fees might be attached but that is the Sum.
Will I be issued a certificate after registration?
Yes you would absolutely have your certificate after completing your registration. This is done to confirm your business registration.
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