How To Get CAC Registration of Business Name in Nigeria Within 3-7 Days!
[bctt tweet=”If you have ever wondered how to get CAC Registration of Business Name done within 3-7days, then please keep reading.” username=”CorpStarterLtd”]
Under the Nigerian Law, Part B – Registration of Business Name of the Companies and Allied Matters Act; Business Name is one of the 3 general company structures which you can register in Nigeria with the Corporate Affairs Commission (CAC), the other 2 are limited Liability Companies and Incorporated Trustees. A business name also is known as a trading name; is simply a name or title with which a person trades.
Registration of Business Name With The CAC (Corporate Affairs Commission)
Above all, your Business Name identifies you and your brand/style to your clients and allows you to differentiate yourself / style from your competitors and enables your customers to uniquely connect to your business/brand. Ideally speaking, for many businesses and entrepreneurs, the name is often the most valuable asset certainly. Therefore, it is unmistakable that you comply with the registration of business name with the CAC Nigeria – Corporate Affairs Commission. In addition, a business name is as good as the services rendered and used to name the brand/business. If your business name is as important as the brand/style and the most valuable asset of your business, you should then consider the importance of exclusive rights to the name and think of protecting it with a Trade Mark.
Online Registration With The Corporate Affairs Commission
[bctt tweet=”The process of online registration of business name with the CAC Nigeria – Corporate Affairs Commission is pretty much a straight forward task. To register a business name in Nigeria, follow these 4 simple steps:-” username=”CorpStarterLtd”]
CAC Name Search and Reservation
Firstly, decide the business name with which you want to trade. Because it could be very difficult a task researching and coming up with a suitable and brandable business name. Always have in mind Marketing Strategies when you are conducting research for a business name. Having a suitable and brandable business name is the first and most important aspect of setting up a business. There are many online tools out there to assist you in conducting research for a suitable and brandable business name. One of such is the Corporate Affairs Commission PublicSearch portal.
We offer Free Business Consultation and Name Reservation for all our prospects. Click here to Open a Ticket. Name Search and Reservation is done online with the Corporate Affairs Commission (CAC). The Commission will conduct a search in its database to make sure that the name is not already in use. If the Corporate Affairs Commission approves the name, then it will reserve the name for you for a 60-day period. During which it is expected that you will complete the registration process for the reserved business name.
Business Name Registration Forms Completion
This process is completed online with the Commission (CAC) just like in step 1 above. The information required for completion of CAC Business name registration forms includes:
- Approved Name of the Business as obtained in step 1
- General Nature of the Business
- Address of the Business
- Name, Address, Occupation and other details of the Proprietors of the Business
- Valid Means of Identification of the Proprietors of the Business.
- Signature of the Proprietors
CAC Filing Fees Payment
The payment of the CAC business name registration fees can be done online or can be completed in a bank. If you have difficulty in payment online, we strongly recommend that you pay in any of the commercial banks. Most importantly, make sure to get the Remita Retrieval Reference Number (RRR) if payment is made in the bank as you would be needing it to continue registration.
Submission of Forms
Once the payment is been approved, you may then send the forms online in PDF format. The Commission will check the documentation and will then notify the registrants that the application has been approved or queried. If approved then the Business Name Certificate is ready for collection. Ideally, the entire process takes about 3–7days. But sometimes could exceed depending on the workload of the Corporate Affairs Commission at the time. There are many Pros and Cons of registering a business name as opposed to a limited liability company, read more on this here – Limited Liability vs Business Name.
Whether you are starting a small venture, want to grow an existing one or launch a big company, you should always have Scalability in your thoughts. Roman philosopher Seneca once said, “Luck is What Happens When Preparation Meets Opportunity”. We do hope you have benefited from this article and can now do your CAC Nigeria – Corporate Affairs Commission registration of business name within the shortest time possible.
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This article is mostly for information purposes alone and is not intended to take the place of legal advice. Readers are advised to seek proper legal advice. If you need help in reaching a lawyer, you may consider sending us an email at [email protected] and we would be glad to connect you with a lawyer.
If you haven’t decided on a business name yet, read How do I choose a business name? page for some tips.