In Nigeria, launching a business can be a fantastic way to become financially independent and generate employment. The first step in starting a business in Nigeria is to register the name of your business. The ability to write a business name online has simplified the process for Nigerians. In this article, we’ll walk you through each step of the online business name registration process in Nigeria.
Documents Needed to Register a Business
These are the documents required for business registration before we discuss how to register your business online.
- The suggested name for the company.
- The business’s intended goal
- The articles of association and business memorandum;
- Authorized Share Capital Statement
- Name reservation and availability on Form CACC 1.
- Valid means of identification and two recent passport photos of each director; names and addresses of the parties incorporating the company.
- A lawyer’s statutory certification of compliance.
- The company secretary’s name and address
- The principal business office address
- Submitting a tax-related filing to the Federal Inland Revenue Service.
- Any other paperwork or payments the commission might require to comply with legal requirements
How to Register a Business Name in Nigeria Online
Here are the step-by-step guidelines on how to register your business name online in Nigeria:
Conduct a Business Name Search
A business name search is the first step towards registering a business name in Nigeria. Making sure the name you want to use for your company is available and hasn’t already been registered by someone else is the goal of this.
Go to the Corporate Affairs Commission (CAC) website and select “Public Search” to perform a business name search. After entering the name you want to use for your company, select “Search.” You can move on to the following stage should the name be available.
Create an Account
You must register for an account on the CAC website to register a business name online in Nigeria. After selecting “Create Account,” enter the necessary information, including your name, email address, and phone number. After completing the required fields, press “Register.”
Complete the Application Form
Go to the CAC website, log in, and select “New Registration” after creating an account. Choose “Business Name” as the registration type and enter the necessary information, including the intended business name, the type of business, and the business address. The names and contact information of the business owners must also be provided.
Prepare your Documents for Upload
The following files must be ready for uploading to the CRP:
- The pre-registration form (CAC-BNo1) filled out
- A legitimate form of identification, such as a passport, driver’s license, or national ID.
- A picture from a passport
- Verification that the filing fee was paid
Pay for Registration
Payment for the registration will be needed once the application has been submitted. The type of business and the state where it will be located determine how much registration costs. You’ll get a payment receipt as soon as the money is received.
Submit the Original Copies of your Documents
You must deliver the original copies of your documents to the CAC office closest to you for verification 2 after uploading them to the CRP.
Download and Print the Certificate of Registration
You can download and print your certificate of registration from the CAC website once your payment has been approved. The name of your company, registration number, and registration date will all be on your certificate of registration.
Benefits of Getting Your Business Registered
Now that you are aware of the prerequisites and the process for registering a business online, let’s discuss the advantages of having an account.
- The company becomes a distinct legal entity
- it entices investors
- it enhances the company’s standing with clients
- it offers flexibility in loan applications
- it shields the company from penalties
- it shields the business from liability.
One step your company can take to move forward positively is to register a business name with CAC. Additionally, it can increase revenue, client confidence, and brand trust.
Since most procedures now occur online, registering a business name is generally not stressful.
In conclusion, the online process of registering a business name in Nigeria is easy to understand and uncomplicated.
You can easily register your business name and take the first step towards launching your own company by following the instructions provided in this article.
Can I get the name of my business registered online?
Businessmen can now easily and quickly register their company name thanks to CAC.
What conditions must be met to register a business name?
A National Identification Number (NIN) and additional information, such as the business’s goals, address, and email address, are required of the applicant wishing to register a business name.
What should I take into account before registering a company in Nigeria?
- Getting Ready to Register a Business
- Choose the name you wish to register your company under.
- Check to see if the suggested name is available.
- Hold onto the suggested name.
- Publish a newspaper article for trustees who are incorporated.
- After the name is approved, upload the necessary information.
Why will CAC reject a business name?
To avoid confusion and safeguard the rights of already-existing businesses, the CAC will reject any name that is the same as or similar to an already-existing business name. Make sure the business name you have chosen is not already in use by thoroughly searching the CAC database.