How to Register a Business Name in Nigeria Online
- 1 How to Register a Business Name in Nigeria Online
I have registered a couple of Business names in the past months right from the comfort of my PC, this post will guide you on how you can also register your own business name by yourself online.
Remember, the Corporate Affairs Commission allows individuals to do Business name registration by themselves without any third party. So, there’s nothing to worry about – just follow the steps.
You might have gotten here looking for:
- procedures and requirement for registration of a Business name
- How to register an enterprise in Nigeria
- CAC registration form
- How long does it take to register a business name in Nigeria
- Business Name Registration Form …
Well, regardless of your search queries, the step-by-step guide to registering your Business name online is here; just sit back and follow the instructions.
To register your Business name, you can either go to the nearest CAC Office close to you or you do everything on the CAC website
However, since we are only interested in registering Business/ Enterprise name online, I will be focusing on the use of the CAC website stated above.
REGISTRATION OF BUSINESS NAME/ ENTERPRISE IN NIGERIA ONLINE
Step 1: Create an account on the CAC website
To create an account on the CAC website and get access to the Business name registration form, click here
If you already have an account, you can skip that step and go to Step 2.
Step 2: Research the Business Name you want to use
Before you can proceed to registering your Business name, you need to be sure that your intended business name has not been registered already by someone else.
In order to avoid problems with duplicate business names, the CAC has created public access to the database of already registered/ reserved business namesin Nigeria. To access this data base, click here
You CAN NOT register a Business name that is already in the database, so make sure you are as creative as possible, ensuring that the name you choose is 100% unique.
Enter the name into the box to find out if someone else is not using the name, if not on the list, you can go ahead and use the name in the next step.
Before you move to the next step, make sure you have two name options. It is the Corporate Affairs Commission that has the final say, so be sure you have two strong options; only one out of the two will be approved.
ATTENTION!!! Take note of the following:
- You can NOT register a Business name that ends with Limited or LTD e.g Naija Loaves Limited. It will be rejected.
- Your Business name can not contain the word “Investment”. It will not be accepted
- It can not contain the word “Group”, or “Chamber of Commerce”
Step 3: Apply for Name Reservation
Now that you have the Business names you want to register, it is now time to inform the CAC of your interest and therefore make reserve the name for you.
To apply for name reservation on the CAC website, click this link or click Reserve a Name on your CAC Dashboard.
On the form, you will fill-in the required fields with all the correct information until you get to the page where you will be made to pay the sum of 500 Naira for Name Reservation.
How long does it take to get the Business Name Approved?
They usually respond with decision on your Business Name within 24 hours (on Business days). You will get an email to that effect if your application was approved or rejected.
To avoid getting rejected, it is recommended you read the instructions on this page and also on the website, so you don’t continue wasting 500 Naira for name reservation.
Successfully approved names will be made unavailable for other people to register for a period of 90 days, during which you will be expected to pay for the final Business Name registration and get your Unique Registered Company Number (RC).
Step 4: Company Registration
If your application for Name reservation was approved in the previous step, Congratulations!
I believe you must have gotten an email from the website containing your Name Availability Code. You will find that in the attached document in the email you received about its approval.
With your Availability Code in hand, Log on to the CAC website, login and select “New Registration” at the top Navigation Menu. See screenshot below
On the next page, you will be asked to Enter your availability code, just paste the code you got in the Email you received then the application form to complete your Company registration will be generated.
Once again, Fill the forms with all your correct details.
On the part where you are asked if you need Additional Certified True Copies, don’t choose anyone, you don’t need that column for Business/ Enterprise name registration, so click “Save and Continue” to see an overview of your application and proceed to making Payment.
How much do I pay for Business name registration?
You will be required to pay 10,000 Naira via any of the accepted means available on the Payment Page. After successful payment, you will get a notification to that effect.
ATTENTION: According to the Federal Government of Nigeria, From October 1st – December 31st 2018, the cost of Business name registration will be 5000 Naira instead of 10,000 Naira. Take advantage of this opportunity.
Finally, you will need to download and fill a document to complete the process. The document can be found in the Company registration menu on your account dashboard.
Complete the form as requested and upload it to the CAC document upload service.
Apart from the Business name registration form, you will be need to upload the following;
1. Proof of payment you received in the email after successful payment
2. Means of Identification
3. Approval note (You also received that as an attachment when your Business name was approved)
4. Certificate of proficiency (not compulsory except your Business covers some professional fields)
5. Residence permit (necessary if you are a foreigner)
If you have any questions, drop it in the comments section below, and if you like to hire me for this service, you can Contact me.
I will always keep this Guide updated to reflect any necessary update!