There are so many advantages of registering your business name with CAC. One of them is to protect your business name.
Secondly, it makes your business look genuine to a prospective client.
When your business is registered, you are entitled to government benefits. You can also have access to loans and grants.
You can also have a bank account in the name of your company.
Below is a complete guide on how to register your business in Nigeria with CAC
Create An account Through E-Registration Portal
You must create an account before your business name. Create an account and proceed to login here
To begin with the registration of your business, go to CAC official website and login on their e-registration portal
Search For Name Availability
You must first register a unique name that is associated with your brand and has not yet been assigned to another business before you can register your firm. You can search your business name in this section
If your business name has been taken, then, you have to get a new name that hasn’t been registered by someone else.
Business Name Reservation
Your selected company name may be reserved here.
Type of business (private company limited by shares, public company, etc.), proposed company name, and goals should all be entered. After providing the relevant information in each column, you must complete the ₦500 payment.
Within 24 hours, the CAC will inform you of the status of your application. If your business name reservation is approved, you will receive a letter giving a code for the name’s availability.
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Register Your Business Name
To proceed with the company registration process, enter your company name availability code in the box provided.
After the code has been validated, fill out the necessary information on the Registration Form CAC 1.1.
The sort of the primary business in which your company will be involved, the corporate email address, and the registered office address are among the information you must input for your company’s specifics.
Service Fees For Business And Company Name Registration
1. Reservation of Name 500
2. Registration of business name 10,000 Naira
3. Registration of private company with share capital of 1million or less, 10,000 Naira
4. Registration of private company/Increase in Share Capital above ₦1million and up to ₦500 million; N5,000 for every N1million share capital or part thereof 4 Registration of private company/Increase in share capital.
Furthermore, you will need to pay the required CAC registration charge (which varies by company type) after completing the form, plus stamp duty.
The approval note printout, registration form CAC 1.1, CAC payment receipt, identification of directors and shareholders, stamp duty certificate, memorandum and articles of association, and certificate of incorporation of the company secretary (if applicable) must all be scanned and uploaded in PDF format after that.
Also, your company’s Certificate of Incorporation will be uploaded to your account dashboard where you can quickly download and print it after the registration is finished and approved by the CAC.
You see, you don’t have to pay someone 20,000 Naira to help you register your company name.
We wish all applicants success.
