14 Requirements for Business Name Registration in Nigeria

Last updated on August 26th, 2022 at 04:30 pm

In the 90s, only a few small business owners knew the importance of business registration. In fact, some people ignorantly believed that you would be heavily taxed when your business is registered. It’s a myth after all.

The few awareness by the government and self-consciousness of entrepreneurs regarding accessing government and banking loans has made them embrace the need to have a legal name for their businesses.

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.

Some of the benefits of registering your business name with the CAC are:

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 expenditure 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.

Key requirements

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 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.

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 registering a business name in Nigeria

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

If you still want to check if the free business name registration is still available, you can check out the list on our Google Doc

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 the sound knowledge of the registration process, we’re ready to assist you in 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.

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