How Much Does It Cost To Register Business Name / Company in Nigeria
Business Registration is very important and common practice in Nigeria.
It avails the government needed data to overview its economic growth and performance.
Also, business registration in Nigeria brings sanity in Nigeria business terrain.
It helps to enhance originality and eliminate copyright, cloning and sharp practices.
Registered businesses in Nigeria are regarded as legitimate businesses.
The agency for business name or company registration in Nigeria is Coporate Affairs Commission (CAC).
In Nigeria before a business can access banks loans or government grants, they must be registered with Coporate Affairs Commission (CAC).
So, all these are some of the reasons that makes business name registration with CAC in Nigeria a big deal.
To avoid disputes and interference, it is imperative to register business names in Nigeria.
Business name registration and other company registration requirements can only be done at CAC.
In Nigeria, only registered businesses and registers companies can be awarded government contracts and some other top contracts in Nigeria.
Requirements for Business Registration with CAC in Nigeria
There are certain requirements for business name registration in Nigeria.
These are documents for business name registration with CAC in Nigeria.
Below are some requirements for business and company registration in Nigeria.
Name of Business / Company
The name of business or company to be registered is one of the preliquisite for CAC business registration requirements.
Here the name is vetted to avoid adopting already used business or company name.
Owner / Partners
The name of partners or owner of the company or business to be registered is a major criteria for business name registration in Nigeria.
Business owner or partner are to present a valid means of identification showing their full names.
Deed of Partners
If it is a partnership business, then deed of partnership are demanded.
A document showing the partnership agreements and protocols.
Passports photographs are demanded and is part of the requirements for business name registration with CAC in Nigeria.
This is a certificate that shows and identifies the business owner or partners.
Their state of origin or local government of origin.
Business Name Registration Fee in Nigeria
The official fee for business name registration in Nigeria is N10,000.
However, other fees can be paid for further services like business name reservations, notice of change of name, change in business address etc.
So, this answers the questions of how much for business registration in Nigeria with CAC.
Where To Register Business in Nigeria
Business name registration in Nigeria can only be done at Coporate Affairs Commission offices nationwide and CAC official website.
CAC has offices across all states of Nigeria and business and company registration can be carried out at any of these CAC offices nationwide.
Steps for Business Name Registration in Nigeria Online
These are steps and how to register business name in Nigeria.
Visit CAC official website and click on business / company registration
Verify intended business name for registration by paying N500. This is so as to ascertain that the business name is free for registration.
Fill in pre-registration forms with your bio data correctly.
Process online application fee for business name registration.
Print out business name and payment details.
Sign the printed forms where necessary
Upload the following documents
- Receipt of Applicants Payments
- Identification documents
- Approved note printed out
- Filled statutory form
How Long Does it Take to Register a Business Name in Nigeria?
The time it takes to successfully register a business name in Nigeria is majorly dependent on the applicant.
This is because putting together requirements for business name registration in Nigeria is the major need and how to register business name fast in Nigeria.
If all requirements are met, it would take an average of 2weeks to successfully registered your business name in Nigeria.