Today you’re going to learn how to register a business name in Nigeria.
The step-by-step process I’m going to share with you will help you register your business in Nigeria without stress.
Let’s get right into the process.
How to register a business name in Nigeria with CAC
1. Create account through the e-Registration portal
To start the registration process, you will have to create an account with CAC before you can register your company.
Here is how to create an account on the CAC website:
- Go to the CAC registration portal
- Complete the online form and click on "Register".
Congratulations, You have successfully completed the first step.
2. Search for available company name
After you have successfully registered your account
Log into the CAC account to continue with the process
And then proceed to search if your business name is available by clicking on the "search now" button.
Don't know what business name to use?
You can also use Namelix, to generate as many business name ideas that are a fit with your business.
If your proposed company name is already taken, then continue the search with the different name ideas you have.
If your preferred business name is available, you will be given a company name availability code.
Keep this code as it will be needed to complete the registration.
Congratulations
You can now go on to the next stage.
3. Reserve company name
Now you have a business name that is available, it's time to reserve the name.
To reserve your available business name:
Go to the reservation portal. while still signed in to your account.
Complete the online form:
- By filling in your company type
- Proposed company name
- Objectives
- And other necessary information.
The cost of reserving a business name with the CAC is ₦500.
If the CAC approves the name, then it will be reserved for 60 days.
During the 60 days reservation period, you are expected to complete the business name registration process.
4. Register your business
To continue with your business name registration:
- Go to your CAC dashboard
- Go to Pre-Incorporation and Click on the "start now" button
- Enter your company name availability code in the space provided.
Once the code is verified, proceed to the Registration Form CAC 1.1
The information required to complete the form include:
- Approved name of the business.
- General nature of business.
- Address and Contact details of the business.
- Information on company directors and shareholders.
- input personal data – name, date of birth, gender, phone number.
- means of identification
- percentage of shares to be held.
- Signature of Directors
5. Pay For a Filing Fee
The cost of business name registration depends on the type of company you are trying to register.
Payment directly from the website portal or at the bank.
6. Submission of Forms and Document
After the payment is approved, you can then proceed to submit the forms and documents.
The CAC will review your documents and if all is in order, you will be notified of the approval of your business name registration.
Upon completion of the registration and approval by the CAC, your company’s Certificate of Incorporation will be uploaded to your account dashboard where you can easily download and print out.
How much to register a business name in Nigeria
The Cost of registering a business name in Nigeria cost between ₦10,000 - ₦20,000 depending on the type of business you want to register.
To register:
- A private company with an authorized share capital of ₦1m or less, costs ₦10,000
- A private company with a share capital of more than ₦1m and up to ₦500m costs ₦5,000 for every 1m shares of the company.
- A Private company registration above ₦500m authorized share capital costs ₦7,500 for every 1m shares of the company.
- Public company registration for the first 1m share capital or fewer costs ₦20,000.
Registration of company not having a share capital costs ₦20,000.