This article shows the steps on how to register a business name in Nigeria. It’s very important for business owners and aspiring business owners who desire to start a business to register it correctly.
So, being on this blog means that you want to know how to register your business name. And this article will take you by the hand and show you how you can do it yourself without anybody doing it for you. After reading this post, you will know how to register your business name yourself.
What is a Business Name?
A business name is a legal name that an entity has and that entity is a business. You can describe or identify an organization or business by her business name.
Benefits of Having a Business Name
It gives your business a formal look. Secondly, your business will be trusted by many because it is legally registered. And thirdly, access to loans from banks.
Corporate Affairs Commission (CAC) is the legal organization with the sole authority to register a business in Nigeria and their offices are in all the 36 states of the federation.
In Nigeria, registering a business takes 2 weeks from the date of the application process started.
Process of Registering a Business in Nigeria
Choose or Identify a business name
Proceed to the nearest CAC office
Fill the application form
Pick up your business certificate name
Choose or Identify Business Name
The first step in registering a business name is to choose a name for your business. As little as the business name is, it’s one of the important ingredients needed before your business can be registered.
Moreover, the name you will choose must be unique and the name must be one no other person has used before. You should choose a name that relates to the line of business you want to venture into.
Proceed to the Nearest CAC Office
You have decided on the name. Next is to proceed to any nearest CAC office close to you. The first thing they will do is to check the availability of the name.
There, FORM 008 will be given to you to fill. Ensure you fill the form correctly with your correct details. Every piece of information you put on the form will be investigated, so be sure to fill it correctly.
After you submit the form, two weeks will be used to carry out their investigation and get back to you. During these two weeks, a thorough background check will be done to see if the name you submitted is available or not.
Fill Form 001
FORM 001 will be given to you to fill in once your name is available. Be sure to fill in all your details correctly, after filling the form you will pay a certain amount of money about N10,000 for administrative fee. After making the payment, you will an attestation and affidavit form to attest to in the nearest magistrate court.
Pick Your Business Registration Certificate From the CAC
After filling the form correctly and every other necessary documentation, you will wait for one week for CAC to perfect all the necessary things concerning your business name registration. Consequently, once everything is in order you get an approval and go ahead to pick up your business name registration certificate with them.
