Registering a business name in Nigeria comes in simple steps if you know what to do. With a registered business name, you can open a current account with any bank in Nigeria. The earlier you register your business, the better as people will take you more seriously when your business in registered.
Company Name Registration In Nigeria: Steps, Requirements And Fees.
Why You Must Register your Business
It is recommended that you register your company name for the following reasons:
==> You have the authority under the law to use the name for business
==> You can only do business with government agencies or partner with big companies when your business is registered
==> People are more comfortable doing business with you or paying into your bank account with a registered business name.
How Do I Get My Business Name Registered?
==> Visit any branch of the Corporate Affairs Commission (CAC). They usually located in capitals of state across the federation. Click here for there contact info of State CAC branches.
==> Prepare two other unique alternatives to the name you want to register.
NB: Names must not contain words like 'national', 'government', 'state' and other official terms. If you include keywords like 'consulting', you may be asked to submit license for professional qualification. Also note that your business name must not be similar to any previously registered name.
==> Inform the CAC official you want to register your business name. You will be asked to pay for the 'Availability Check And Reservation' These cost five hundred Naira. You can download the form here.
==> Fill and submit the form. You will be asked to come back in 1-2 weeks' time to know the status of the names you submitted.
==> if any of your name is approved, you will pay four thousand Naira, if not, you will be instructed to pay another #500 for available check. Click here to check the summary of fees.
==> After paying this fee, you will be given a registration form. these are the requirements of the form: approved business name, business address, name(s) of business owner(s), address of business owner(s), two passport photographs of business owner(s), nature of business (you can get a list of all categories of business at the CAC office)
==> After filling the form, submit it with the #4,000 receipt. You will be told to come for your certificate in two to four weeks' time.
==> Immediately you collect your CERTIFICATE OF BUSINESS NAME REGISTRATION, you can conveniently say you are running a legitimate business.
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