How do I register my business name in Nigeria online? If you know that you run a successful business in Nigeria, an important aspect to consider in the growth of your business is registering your business name. The process of registering your business name is not only professional, but it also gives your brand an official look.
Furthermore, the process of registering your business name can be done online, even by you. And while it might seem daunting, there are simple procedures that you can follow to successfully register the name of your business.
Where Do I Register My Business Name?
There are tons of reliable people on the internet who can help you, as a business owner, register your business name. They are quite familiar with these gigs and can deliver top results to you.
However, in the case of registering your business name online, as I mentioned earlier, there are simple procedures that you can follow to register your business name online.
Furthermore, the perfect place where you can register your business name online in Nigeria is through the official website of the Corporate Affairs Commission, also known as CAC. They are the legal body responsible for registering business names in Nigeria online.
Documents Needed to Register a Business Name With CAC
Here is a list of required documents that you will need to provide before you proceed with registering your business name under CAC:
- The name you proposed for your business
- Names and addresses of the parties that are incorporating the company
- The proposed objective of the business
- The memorandum and articles of association of the business
- 2 recent passport photographs of every director as well as the authentic means of identification
- Name and address of the company secretary
- Statutory declaration of compliance by a legal practitioner
- Address of the principal business office
- Filing with the Federal Inland Revenue Service for the purpose of tax
Lastly, you will need any other documents or fees that will be required by the commission to abide by any law or condition.
How To Register a Business Name with The CAC
The CAC, also known as the Corporate Affairs Commission, is the legal government that is responsible for managing and regulating companies that are run in Nigeria. They are also a legal body responsible for registering business names with their owners. If you want to register a business name with the CAC in Nigeria, here’s what to do:
- Launch your web browser.
- Visit the official Corporate Affairs Commission (CAC) website at cac.gov.ng.
- Begin by creating an account. You cannot register or manage your business name until you have an account.
- To create an account, click on the “Create Account” button.
- Proceed to fill in the necessary information to create an account. You will need to provide your email address, a username, and a password.
- After creating an account, log in using your username and password on the CAC website.
- Next, click on the “Name Reservation” tab and search to see if your desired business name is available. If it is available, select it and pay the required fee to reserve the name.
- Then, complete the online application form with accurate information about your business. You will need to provide details such as your business name, address, nature of business, directors’ details, etc.
- Proceed to pay the registration fee through the online payment options provided on the website. Also, ensure that you keep a record of your payment receipt.
Benefits of Registering A Business Name in Nigeria
Registering a business name in Nigeria has many advantageous benefits that will surely pay off for you in the long run. Furthermore, it is a necessity that serves major functions in the entire growth of your business. Here are some of the best benefits that come from registering your business name in Nigeria:
- It serves to prove the legitimacy of your business. This in turn encourages customers to do business with you since you have a registered business name.
- You will be given a certificate of incorporation by the government agency that is accurate.
- Once you have a registered business, you are able to employ full-time employees and offer workers benefits as well as salaries.
- If you have a registered business name, it will be easy for you to access loans as opposed to personal loans. With your legal business documents, you can prove credibility to investors and lenders.
- Another great thing that can work out for you when you have a registered business name is that you can easily obtain a visa and travel to other countries for business purposes.
- Registering your business as a limited liability company gives you legal protection from rare cases of liability and all.
- A great benefit of registering for a business name is that you can use that to open a corporate account under your business or company name.
These are some of the top benefits that come with registering a business name in Nigeria. You not only prove your worth as an owner, but you also show the reliability and credibility of your business to customers as well as potential investors.