The culture of registering business and business name especially among sole proprietorship and SMEs is not yet popular in Nigeria.
A lot of Nigeria business owners are yet to perform this very important action of having their business registered for official purposes.
Oftentimes,need arises for one to have his or her business registered for official purposes and this can leave them asking pertinent questions such as how long does it take to register business name with CAC and get certificate.
Business name registration which are done by Corporate Affairs Commission (CAC) is an exercise which is aimed at documenting and protection of businesses in Nigeria.
This also help government to collate the neccessary data which can be used to formulate policies and programmes for effective business friendly environment.
To avoid pressure and financial extrotion, it is best to register your business withing 28; days of operations as stipulated by law. Business name registration protects your business,brand and services and also gives your business legitimacy which adds to its credibility especially during official purposes.
A lot of people thinks that business name registration is reserved for big businesses and companies.
This is false notion as business name registration is open to sole proprietorship, partnership and bigger businesses.
Hence, if you operates sole proprietorship as SME, you can have your business registered with CAC and have business name registration certificate.
So, this post will provide an update on how long it take to register business name in Nigeria at CAC office. Also to be reviewed is the cost of registering business name at CAC.
How Fast Can I Register My Business Name in CAC Nigeria?
According to multiple online sources, it takes about 4 working days (48 -72 hours) to register business name in Nigeria and have your certificate ready for pickup.
However, it is stated that this can only happen if the applicants is able to present all documents and requirements for business name registration in Nigeria.
This is how long and fast it takes to register your business in Nigeria.
Also, from a source very familiar with the process, another way to register your business name fast and have your business certificate is to engage the services of a CAC accredited agent, lawyer or a senior official of CAC and have them process your business name registration on your behalf.
However, this process of getting business name registration certificate would cost higher as you will have to pay for the services of those engaged.
But it is likely you will get your business name registration faster through the latter process.
How Much Does it Cost to Register Business Name in Nigeria?
The Corporate Affairs Commission official fee and cost for the registration of a business name in Nigeria is N10,000 (Ten Thousand Naira Only).
However, most times, applicants either for one or two reasons can engage the services of accredited agents to have the process performed on their behalf.
By so doing, the overall all cost of business name registration with CAC will increase as the service of these agents would be paid for.
Where To Register My Business Name in Nigeria?
By law in Nigeria, Corporate Affairs Commission (CAC) is the official government body charged among others things with business name registration in Nigeria.
If you are looking for where to register your business name in Nigeria, visit state office of Corporate Affairs Commission in your state. This is the place to register and obtain your business name registration certificate.
There is state office of CAC across 36 states of Nigeria and FCT. This is the office where you will officially registered your business name and get certificate of incorporation.