Business Registration in Nigeria and Lagos state in particular has gone digital, in this article, we shall be detailing the procedures to achieve business registration online from your smartphone or laptop, this shall be done from the comfort of your home, or office.
Business registration is a procedure taken to get a legal status for your business , company or organisation. Business registration is usually completed by filling forms obtained from cac accredited agents in Nigeria.
In the past, your location can be a limitation in registering a business, however with the recent changes done by the corporate affairs commission, a business can be registered by an owner anywhere in Nigeria.
Business Registration are in different categories. we shall explaining these categories in a jiffy.
Business name Registration:
A business name is usually the name and style, an owner uses to trade, or by recognized.
A business name is usually the name used by an owner to carry on his business, the nature of business under business names are usually trading, buying and selling of goods and services, real estate agency and supply of goods.
The business name registration starts with the owner going online, to find the corporate affairs commission website.
The corporate affairs commission website is pre.cac.gov.ng
The owner upon signing up, must now embark on the steps. or request for assistance from an accredited cac agent.
It is important to note, that to register any business name, the owner must carry on business name search on Cac portal. it is important to reach out to an accredited cac agent, to assist you with this search as, the result on search.cac.gov.ng might conclusively reveal the correct position, of available and non-available names.
2. Search For the business name Availability on Cac Portal:
A name is usually the identity of a person, or organization, in some certain instances, some names are so not available to be registered, this is because, another person has taken up the name, or it is similar or confusing with an already registered name.
The business name is important, to help avoid such incidence of making payment for a name already registered by another business owner.
How to do cac free Online search for business names
In order to effectively conduct a search , the owner must embark for such search on cac portal
The web portal for cac search is www.search.cac.gov.ng, this website has the largest database of registered companies and other entities in Nigeria.
The registration of companies and businesses is one of the responsibilities of corporate affairs commission in Nigeria.
The registration of the business name is contingent on the result of the search. in the event, the commission rejects the approval of the reservation of the name submitted, the owner cannot appeal the decision, but can only make changes to the name and resubmit for the consideration of the commission.
Documents needed for Business name Registration approval.
The following are essential, and highly needed by the commission for the approval of the registration.
1.The means of identification of owners, and partners, where necessary.
The following means of identification acceptable by the commission are, driving license, national identity card, international passport, and affidavit of birth or birth certificate.
2. Passport photograph and owners’ signatures.
3.Personal Details: The following are personal details that the commission will require from an applicant, the full names and date of birth, residential address, phone number and email address.
4.Business Details: The commission will require the following details from the applicant, in order to register the business; the nature of business, and business address, date of commencement of business.
COST OF BUSINESS NAME REGISTRATION: The cost of registering business names in Nigeria, differs from an accredited agent, to another, however the price of registration of the business names differs, but mostly it costs around N25,000.00 to register a business name in Nigeria.
The Duration of Business Name Registration: the duration is not fixed, it depends on a lot of factors, and most accredited Cac agents can procure business name registration within two weeks or within a week of reservation of the name.