CAC Registration: How to Register your Business Name in Nigeria

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Starting a small business can be daunting, especially when one doesn’t know where to begin from. Different business owners have a step where they started from, and sometimes it’s not always the same for all of them. One thing they all agree on though, is that you need to register your business name when you’re starting a business. In this article, we’re going to delve into what registering your business name is all about, why you need to do it and how you can do it in very easy and straightforward steps. 

What is CAC Business Name Registration? 

CAC stands for Corporate Affairs Commission, and they are the organisation in Nigeria in charge of registering business names and entities.

Why you Need to Register your Business Name with CAC

• More trustworthy: You can create a bank account for your business with ease. That comes with many benefits, but one of those benefits that most business owners overlook is - a potential customer is definitely going to feel more reassured when paying money into a business bank account with a business name, than a “business bank account” with a personal name. Providing them with the latter at the point of payment is enough for them to change their mind, and you lose that customer forever.

• Easier access to loans & grants: Having a registered business gives you more credibility, which in turn makes it easier for a business to source for loans. And with a registered business, you’re more likely to be granted a loan than if you tried to get one personally. One thing that businesses need especially when starting out is money, and with your legal business documents obtained from registration, it becomes easier to apply for loans externally e.g, from banks and investors.

• It’s easier to obtain travel documents: With your business documents, it is so much easier to apply for and get a visa to travel for business purposes. 

• Legal benefits: You can operate a business legally (with your full chest!) and have access to all the rights and privileges available to business owners and companies in Nigeria. 

• An edge over your competitors: Having a registered business in Nigeria definitely gives you an edge over businesses like yours that have not been registered yet.

Now that you understand the importance of registering your Nigerian business with CAC, let’s get into the how. 

Related: How to File CAC Annual Returns Online in 2024 as a Business Owner

How to Register Your Business Name in Nigeria with CAC

CAC has made it possible for business owners to do their business name registration in a few, easy steps.

1. Create a CAC account. 

Create your account with CAC using either your mobile phone number or your NIN. It takes less than 10 seconds to do this. 

2. Reserve Business Name.

With your login details, you can now sign in and then access the CAC reserve name page to check for the availability of the business name you want to register. CAC will then approve and reserve the name for you for a period of 60 days after checking their database to confirm that there is no business already registered with the same name. You need to make sure that you complete the registration process within this period.

3. Fill the Business Name Registration forms. 

Fill in the business name registration forms with the required and accurate information. 

4. Pay your CAC filing fees.

This is the part where you pay your CAC filing fees online and wait for approval. You can check out CAC’s schedule of fees for more guidance on payment. 

5. Get Approved.

Once you get the approval from CAC, you may then submit your forms. CAC will review your documentations and upon approval, inform you that your application has been approved, and your business name certificate is ready for collection.

And that’s it! Your business name is now registered with CAC.

Valid Documents You will Need to Register your Business Name 

This last part is very important. You need to know what documents you will need to register your business name with CAC, and ensure you have them all, so that you’re not stuck in the middle of the process after you’ve started. 

1. Government Approved ID

First of all, you need to make sure you have a government approved ID (Identification) and you choose from the list below: 

• International Passport 

• Voter’s Card 

• NIN (National Identification Number) 

• Driver’s License

Make sure to pay attention to the name on the ID you’re using, and that it matches the name and format you use to fill out your registration forms, e.g “Musa Ahmed” on the ID should be “Musa Ahmed” on the form, and not “Ahmed Musa”. Also make sure that your ID has not passed its expiry date, as it will now be considered invalid. 

2. A Professional Passport

Take a professional looking passport with a white background, to avoid your passport being flagged. Do not instead try to use a cropped image or a selfie. Also make sure that your hair is tucked behind your ears and not covering your face, and that you’re not wearing sunglasses or a cap.

3. Clear Picture of your Signature.

On a plain white document with no lines in between (you can use a piece of an A4 paper), write down your signature as you will need it to fill the online documents. Make sure that every part of your signature is clearly visible. 

And that’s it! Now, you can register your business name in a few short days and get it out of the way without sweating or overthinking it. We hope our guide has been able to help you do it without any stress! 

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