Quick Answer: How Much Does It Cost To Register A Business Name In Nigeria?

How much does it cost to register a business name with a CAC?

In the past, business name reservation at the CAC took days before it came back with a result. Today, it only takes the same day if you submit your request before 5 pm and it costs just NGN500. Once you wrap up with the name reservation, you can then proceed to the registration of your business name proper.

How much does it cost to register a business name in Nigeria 2021?

How Much Is Business Name Registration In Nigeria? The cost of registering your business name is #10,000. There will be an additional fee of #500 for business name reservation.

How long does it take to register a business name in Nigeria?

The entire process for registering a business name normally takes 1-2 weeks, depending on the workload of the CAC and other factors. You do not need a lawyer to register a business name, however, if you want to register a company, you need the services of a lawyer or other accredited agent.

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How do I register a business name in Nigeria 2021?

HOW TO REGISTER A BUSINESS NAME IN NIGERIA ( 2021 )

  1. STEP 1: CHOOSE A NAME FOR YOUR BUSINESS.
  2. STEP 2: TAKE A TRIP TO THE NEAREST CORPORATE AFFAIRS COMMISSION(CAC) OFFICE.
  3. STEP 3: TAKE ANOTHER TRIP TO THE CORPORATE AFFAIRS COMMISSION OFFICE.
  4. STEP 4: COLLECTING YOUR BUSSINESS NAME CERTIFICATE OF REGISTRATION.

What are the benefits of registering a business name?

ADVANTAGES OF BUSINESS NAME

  • Business name requires little capital.
  • Business name is easy to register.
  • Business name requires less formalities.
  • A sole person can register a Business name.
  • Profit of the business is solely owned by the owner.
  • Tax liability in Business name is minimal.

What’s the difference between registering a company and business name?

Companies must be registered with ASIC, and company officeholders have legal obligations under the Corporations Act. Registering a business name does not provide exclusive ownership of that name. It also doesn’t prevent other people from being able to register and use similar names.

Can CAC registration be done online?

COMPANY REGISTRATION IN NIGERIA An individual can now register a company online with CAC, with little or no help from anyone, except for Section E in the Registration Form CAC 1.1, which requires the signature of a Legal Practitioner and attestation by a Notary Public or Commissioner for Oaths.

Is CAC registration free now?

ENROL NOW.” The Federal Government has approved all self-employed and business owners to carry out their Corporate Affairs Commission ( CAC ) registration online free of charge.

What does it take to register a business name in Nigeria?

Choose and Reserve a Name – The first step is to decide on what name to use to register your business, the process is done online. You will apply to the Corporate Affairs Commission (CAC) and suggest two alternate names for your business.

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Can 2 businesses have the same name?

When You Cannot use a Similar or Exact Name If there is any potential for consumer confusion, you will not be able to use the same name as another company. Using the same name as another business will typically not be acceptable when: The other business registered for trademarks before you did.

How many days does it take to get CAC certificate?

REVISED SERVICE TIMELINES FOR THE PERIOD OF COVID-19 REGISTRATION

S/No. Service Timeline
3. Certified True Copy of Certificates 5 Working Days
4. Filing and CTC of CAC 2A, 2.1, 3, 7A & Miscellaneous 5 Working Days
5. Search Report 5 Working Days
6. Letter of Good Standing 5 Working Days

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How much does a business name cost?

The fees for registering a business name are: $37 for one year.

How do I know if my business name is on the CAC?

Check Business Name / Company Registration in Nigeria Online via CAC Website

  1. To search for a company or business name, visit the Corporate Affairs Commission ( CAC ) website.
  2. You will be presented with a form to type the name of the company / business you want to search for (as illustrated below).

How much is CAC registration 2021?

According to the Companies Regulations 2021, the filing fees for the Statement are N5,000.00 and N10,000.00 for private and public companies, respectively.

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