Last updated on August 5th, 2023 at 09:35 pm
In the 90s, only a few small business owners knew the importance of business registration. In fact, some people ignorantly believed that they would be heavily taxed when their business is registered. It’s a myth after all.
The awareness by the government and the self-consciousness of entrepreneurs regarding accessing government and banking loans has made them embrace the need to have a legal name for their businesses.
This post explains the necessary documents you need for a business name registration in Nigeria. Also, we’ll tell you the importance of registering your business.
Table of Contents
Today, the official portal of the Corporate Affairs Commission (CAC) is the first stop for every prospective business because they know that doing so comes with lots of advantages.
Benefits of registering your business name
1) It’s one of the eligibility requirements to apply for a government or banking loan for your business. That’s why some SMEs were disadvantaged during agric loans by the federal government during the post-pandemic credit facility.
2) Your business name gives you a legal identity
3) With your business name, it becomes easier to attract foreign and indigenous partnerships with companies.
Business Name Reservation & Registration Promo
InfomediaNG Business Solutions in conjunction with BTS Consult roll out business name registration promo.
N5,500 NOT N20,000
Full package: 1) Name reservation and 2) Registration.
Delivery: 5 Working Days!
Send WhatsApp Message to 08027024054
Do you remember the partnership between Payoneer and Kuda bank? No foreign company would come sign partnership papers with a company that isn’t registered. It gives you an edge.
4) It makes others and institutions want to do business with you.
5) It creates a sense of responsibility on the part of the business owners
6) It enables you to set up a corporate account with a financial institution. This way, you’ll be able to separate your business expenses from personal spending.
7) Registering your business name with CAC gives you uniqueness. This means that no one can ever use the same name again.
Requirements to register Business Name
1) Proposed Name. It’s advisable to get at least two business names set.
2) Details of your business that is office Address
3) Phone number
4) Active email address.
Note: When filling details of your company, ensure that you clearly state-building number, street name, town/village, Local Government Area, and the state of operation.
EG No. 10, InfomediaNG Road, BTS Town, Collabo Local Government, Success State
For the section for the proprietor’s details, it must contain the following:
5) Surname
6) First Name
7) Other Names
8) Date of Birth (Day/Month/Year)
9) Contact Address
10) Phone Number
11) Provide a means of identification. This could be any of the following: the National ID, Permanent Voter’s Card, International Passport, or Driver’s License
12) Signature of the proprietor
13) Passport Photograph of Proprietor
Note: Under the proprietor’s details, clearly state the details of other proprietors.
14) The last section is the nature of your business where you are expected to state business objects like business classification and explain what exactly your business will be doing.
It is imperative to note that the above details will appear on the CAC E-status report formerly called CAC Forms 01.
Required documents to upload
While you need the above requirements, it’s important to note that the documents you will need to upload on your CAC business registration dashboard are:
- Append your signature on a plain sheet and scan it
- Passport photograph
- Means of Identity (Voter’s card, National ID, International Passport)
Cost of registration
With less than N15,000 you can complete the registration process by yourself and get your certificate. Here is it:
- Reservation of Name: N500
- CAC official filing fee: N10,000
The free business name registration has now closed.
Note: For Limited Liability Company registration, check out the guide at: https://infomediang.com/company-registration-cac-nigeria
Are you ready?
You head to the CAC portal to begin the process.
How To Print CAC E-Certificate Online
Step 1: Head straight to the account creation page to set up a user account
Step 2: Fill the form and hit register
NOTE: You will be a director, trustee or proprietor/partner during the registration process. You are advised to provide the necessary details.
Step 3: Confirm your email by validating the mail that would be sent to you
That’s the first stage for some who is just registering on the CAC portal. If you have an account, you can skip the above process.
Step 4: Now login to the business registration form page to make payment for the business name.
Step 5: Make payment for registration of the company through Remitta using your Debit Card on the payment page.
You can keep your payment receipt if you like. Upload the necessary documents including your signature. Make sure the right file size is used to avoid queries.
Step 6: If your application is approved, the CAC E-certificate will appear on your dashboard with a download button.
Step 7: Click register
Step 8: Navigate to the download green button and click it, it will automatically download on your device and print.
Do you want an accredited CAC agent to handle the process for you?
With sound knowledge of the registration process, we’re ready to assist you and ensure that the entire process including your e-certificate is ready within seven business working days, check our contact us page to reach out.
