A business name is a name or style which a business owner or proprietor trades under.
A business name is a name chosen by the owner /proprietor for purpose of doing business,it is immaterial whether it is registered or not.
A business name is created for purpose of profit making and cannot be utilized for non-profit making ventures such as clubs,association,church mosque, and foundation.
Registration of business name in Nigeria requires knowledge and experience of the process.
What is the process involved in the registration of business name, in due course we will lay it to bear.
CAC ACCREDITED AGENTS & CONSULTANTS IN NIGERIA
Business name registration requires business name registration consultants .
WHAT IS A REGISTERED BUSINESS NAME? A registered business name is a name which has passed all the requirements set down by the corporate affairs commission for the registration of such business name.
A registered business name is known to law,unlike an unregistered business name.
How do you find a cac agent in lagos? we are here for you just a click away,whether you are in lagos mainland or lagos island we are here for you.
How to process your business name registration in lagos.
are you interested in find out how easy to register your business name, you can outsource it to us or you
follow these steps.
i. Sign up on cac website using your email address and phone number.
under this cac will ask you of your names,surnames,date of birth,email address,nationality,state of origin,city and you will need to confirm your account. it is advised to use a different password for the creation of this account,use a different password from your email account,once you are done hit on Register.
ii.if you are done creating an account,then proceed to do a name availability search for the proposed name. it is advised to chose the purpose of the search to be for pre-incorporation hence you will pay lesser fee.
iii.make payment for reservation and search through the remita payment gateway
iv. Submit your payment and wait for the reservation of the name or failed reservation report of the name.
v. After 48 hours the report files in then proceed to your dashboard to begin the process of registration.(if the name was reserved by the commission).
vi. Fill in the forms appearing from your approved name section of your dashboard.(in this segment your personal information will need to submitted to the commission).
vii. Input the business name objectives and business details.
viii.Submit your identity card and passport photo and scanned signature in pdf format.
viii.Make your filing fees payment for business name registration and submit the application.
PROHIBITED BUSINESS NAMES YOU CANNOT REGISTER–
There are business names you cannot register as a person in Nigeria.under the laws governing business name registration in Nigeria,the prerogative of approvals and disapproval of proposed name rests on cac.
How do you know names that a re prohibited,you will need to ask your cac business name registration consultant or cac accredited agent near you.
However we provide you a guide here,so you need no worries at all.
it must be noted that business names under prohibited lists are different from names under restricted names list.
What are names under prohibited business names list- these are names containing the word “National”federal”state”local government”.
Names containing the word “Co-operative” or its equivalent whether in English language or any other language., names containing the word “CHAMBER OF COMMERCE”,”BUILDING SOCIETY”,”GUARANTEE”,”TRUSTEE”,”INVESTMENT”,”BANK” “INSURANCE”.
Names that are capable of creating a similarity with a registered business name.
RESTRICTED BUSINESS NAMES– the category of names falling under restricted business names are within cac powers.
in this list names are restricted from being registered if in the opinion of the registrar of cac,capable of misleading the public as to the nationality,religion,race of persons who owns the business.
the registrar of cac can also restrict a name if in his opinion it is deceptive or objectionable because it contains reference direct to any personage,practice or institution or very unsuitable for business name.
A business name might be refused and restricted where such has been used to carry out fraud before.
Also a business name might be denied registration if the owner is under aged.
Note- if your business name registered was cancelled by the commission or removed,you can table your grievance to the registrar within one month of such decision.
HOW TO REGISTER RESTRICTED BUSINESS NAMES: The commission Restricted names or words from being reserved and registered ,however there is a way around it,to register such words ,or names there are certain conditions that need to be met.
In order to have an approved a particular word or name which falls under the list of restricted names, the applicant must comply with certain procedures.to register such there are fees attached, the fees for reservation of restricted word or name for a small company is N5000, this is also same amount if you are reserving restricted words or name for private limited company,limited by guarantee companies and others.
Business Name Registration Pricing- In case you need to register your business name or company,we can register your business name for N20K.
In any event you want express delivery for your business name registration,the pricing is 30k.
The pricing for registration of a limited liability company depends on the share capital of the company,if you want to register,you can have a LTD for N45k that is for 1 million naira shares capital.