Registering a business name in Nigeria with the Corporate Affairs Commission can be the easy way to go if you are looking for a relatively affordable option to register your business.
The requirements are simple, the complications are few, and the compliance reporting obligations are minimal. This structure can be used for a sole proprietorship or a partnership.
Types of Business Name Registration in Nigeria
The following are the type of businesses/companies you can register in Nigeria with the Corporate Affairs Commission (CAC);
- Private Limited Company (LTD)
- Public Limited Company (PLC)
- Companies Limited by Guarantee
- Unlimited Companies
Requirements for Business Name Registration
Here are the requirements to register your business name with the Corporate Affairs Commission (CAC);
- National Identification Number (NIN)
- Business Name Availability
- Registration Fee
- CAC Application Form
- Passport Photograph
- Business Documents
- Birth Certificate
- Driver’s License
- International Passport
- Permanent Voters’ Card
CAC Services
The Corporate Affairs Commission (CAC) provides registration services for the following categories;
- Business Name
- Company
- Limited Liability Partnership
- Incorporated Trustees
- Limited Partnership
CAC Fees for Company Business Name Registration
Here is the list of CAC fees for companies and business name registration in Nigeria;
Name Reservation Fee
| Type of Company | Amount |
|---|---|
| Limited Liability Partnership (LLP) | ₦500 |
| Limited Partnership (LP) | ₦500 |
| Business Name | ₦500 |
| Incorporated Trustees | ₦5,000 |
Business Name Registration Fee in Nigeria
| Type of Company | Amount |
|---|---|
| Private Business Name Registration | ₦10,000 |
| Incorporation of Company Limited | ₦20,000 |
| Incorporation of Private/Public Company Limited (Issued share capital of ₦ 1 million or less) | ₦10,000 |
| Incorporation of Private/Public Company Limited (Issued share capital above ₦ 1 million and up to ₦500million) | ₦5,000 for every ₦ 1 million share capital |
| Incorporation of Private/Public Company Limited (Issued share above ₦500million) | ₦7,500 for every ₦ 1 million share capital |
Below are 5 easy steps to help you register your business name in Nigeria.
STEP 1 – Name Search CAC
Two businesses cannot carry on business with the same name. The process of confirming that your proposed name is not being used is called a public search and can easily be done on the CAC official website. This is the first step in the registration of Business Name.
STEP 2 – Availability Check and Reservation of Name
It is important to note that a public search does not suffice. It is merely a first step and not conclusive. After the public search, you must apply for a confirmation and approval by CAC that the name is not being used. This is called availability check and reservation of name, you are expected to submit two proposed names to the CAC, and make the required payment. If approved, go ahead with registration.
STEP 3 – Input Details
The Statutory form for registration requires certain particulars to be provided, accompanied by a number of documents. They are as follows: –
- approved name;
- general nature of the business;
- full address of the principal place of business and every other subsidiary place of business;
- proposed date of commencement of the business;
- passport size photographs of the owners; and
- Proficiency certificate (If required).
Once everything looks good, go ahead and make payment, printout the documentation, attach relevant passport photographs and sign.
Step 4 – Document Upload CAC
The Application form for the registration of Business Name and other relevant documents must be uploaded. The CAC will review the documentation and if all is in order, you will get a notification that the application has been approved, after which your Business Certificate will be ready for printing.
Step 5 – Certificate of Registration
The following documents would be available on the CAC website for download by the proprietor(s) of the newly registered business name :
- Original Certificate of registration of the business name
- CTC of the Application for the Registration of the business name