These days, one of the most trending search is “how to register a business name in Nigeria.” Hence, this article will succinctly explain the most easiest way.
Equally, what could be more interesting when starting a business than having a unique business name fully ready and incorporated before the business is being flag off?
The fact that you have enough capital to begin your own business doesn’t mean you can start any venture without having a unique business name that your customers will be using to identify your products from others in your chosen trade.
Hence, this article on how to register a business name in Nigeria will succinctly explain the important steps needed to be taken to get a business name registered in Nigeria with little or no problem at all.
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Legally speaking, the registration of any business name or entity here in Nigeria falls under Part B of the Companies and Allied Matters Act (CAMA). All our discussion will be based on the guidelines and procedures entrenched in the CAMA.
But before then, it is very important you note that the benefits of registering a business name in Nigeria or any wherein the world can not be overemphasized.
The Step by Step Approach on How to Register a Business name in Nigeria.
The following are the best ways to get a business entity registered in Nigeria without any stress.
STEP 1:- Choose a Unique Business Name
The first thing you are expected to do in your sojourn to register your business in Nigeria is to decide on what will be your business name. While you may have a name in mind, endeavor to check for it availability on online.
In the same vein, you’ll have to visit the Corporate Affairs Commission (CAC) and submit two different names for consideration. After the CAC has been satisfied that the name is unique and not in use by anyone, it’ll be approved.
However, you’ll be given a 60-day Grace to reserve the name but if you fail to complete all the registration of business name process within the period, the business name will be revoked.
STEP 2:- CAC Filing Fees
After you must have gotten a business name of your choice and it has been confirmed to be unique and not in use by anyone, the next cause of action is to complete your registration.
However, the registration wouldn’t be successful without the payment of the registration fees to the CAC. The filling fee can therefore be done either online or in any recognize bank.
But registration of business name online is the best and the fastest alternatives. there, you will be able to see all the list of document, list of registered companies, and even do CAC name sear4ch there.
STEP 3:- Submission of Forms
The moment you realize that the payment has been successful, then you can file and submit the forms online. The submitted files would be reviewed by the CAC.
The CAC will check if the submitted documents are in order after which you’ll be notified that the submitted application has been successfully approved, and that the Business Name Certificate is available.
Under normal circumstances, the whole process shouldn’t take more than a week, albeit it depend on how busy and tight the CAC schedule is at the time of filling your application.
Be informed that you can complete your business name registration online in respect to the first step above. All you have to do is to supply the information information:
- The approved Business Name by CAC;
- The general overview and nature of the business;
- The business location or address;
- The name, contact, occupation and other important details of the business proprietors; and
- The proprietor’s signatures.
The discussed steps to registering a business name is Nigeria is just the normal procedure and not a legal advice in relation to the topic.
For any legal advice or inquiry on how to register a business name in Nigeria, endeavor to visit a lawyer.