How to Register Your Business in Nigeria
As you may already know, business owners are required by the law to register your business if you wants to legitimize your business in Nigeria
Do you have a School, Church,Limited liability company, Club, NGO’s Club or any other Association or business establishment or you have a business idea you want to register in Nigeria, then continue reading while we show you how to register your business in Nigeria with the agency saddled with the responsibility of registering business cooperation in Nigeria. The Nigerian Corporate Affairs Commission(CAC) is the agency empowered to register business names and operation in Nigeria
Registering your Business name with the corporate affairs commission should be one of the key strategy and can be seen as one of your most important business
assets which automatically means your trademark is well protected to the business in the state and federal level. When you officially register your Business in Nigeria with the CAC, No other person is permitted to use your business name for any commercial transaction without your direct or indirect consent. The process of business name registration in Nigeria is actually very simple and straight forward contrary to what many people might think about Business name registration in Nigeria
Depending on the scope of your Business venture you can register for any of the categories of business business registration in Nigeria
(a) Business Name Registration
(b) Private Limited Company (LTD)
(c) Public Limited Company (PLC)
(d) Company Limited by Guarantee (LTD/GTE)
(e) Unlimited Company (ULTD)
(f) Incorporated Trustee
For a better understanding of the various classes of Business registration we will look at (Business Name, and Private Limited Company)registration based on the fact that those two class are very popular and most relevant to small and medium scale Entrepreneurs
Registering your business add another layer of
authenticity to your brand. Business wise, it shows a sense of responsibility and
concert effort put towards establishing your business and brand. It makes you
feel like a serious business person and fuels your drive towards
3. One of the other benefit of registering your business in Nigeria is that you will be able to open a corporate account with your
business name only if it is registered. And you know the importance of
having a corporate current account? – it makes people feel more relaxed
to transact business with you.
Now that you know the importance of registering your
company, how do you proceed to register your business in Nigeria?
How to Register a Business Name in Nigeria
Take your time to come up with a suitable name your business, Your Business name should highly related to the product you want to produce/sale and/or services you want to offer. If you are still brain storming for a business plan, Contact us and speak to our professional business plan writers in Nigeria and let us help you make the best decision regarding lucrative business ides in Nigeria.
Step.1>>Visit Corporate Affairs Commission (CAC): At the CAC, you will be given a business name search form (Form008). This form is used to search for business name availability. Fill in the form appropriately and submit it. Payment of filling fees at the corporate affairs commission at the time of writing this article is N500. This form acts as an application for business name registration and should clearly state the business name that you intend to register
- Visit Corporate Affairs Commission (CAC) after some days: business name search usually takes about a week. If your business name is not available you repeat step 1-3. If your proposed business is available, Collect another form called Registration of Business Name (Form001), fill it and proceed to payment of the registration fee which at this time cost N10, 000 only. Upon payment of the registration fee, collect affidavit/attestation form and proceed to the any magistrate court nearer to you for endorsement by the court magistrate. Here you will pay N250 only as court fees.
- Collect your business name certificate of registration. You are done with business name registration in Nigeria. You can then think about incorporating it to either Ltd or PLC.
Note: There is a 99% possibility that someone may have registered some of the popular business name phrase you might come up with, the key to getting a available name is been unique and uncommon.
Step 2 – Once you checked and the business name you have in mind is , then you can commence the registration process immediately by obtaining the Business Name registration form for N250 (as at February 2013) and
Collect business name certificate of registration. At this point,You are done with business name registration in Nigeria and you can be rest assured that no body can steal your business name from you.
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