BUSINESS NAME Registration : Ventures Or Enterprises With Corporate Affairs Commission (CAC)
Preamble to the procedure of Business Name registration in Nigeria with Corporate Affairs Commission (CAC).
Limited Liability Companies are not the only recognized business organization in Nigeria. There are other classifications like sole proprietorship and partnership, which are covered as business names under the Companies and Allied Matters Act (CAMA) within the contest of the Nigerian Business formation system where CAC is saddled with the responsibility of registering any intending legal Businesses.
Business name classification is also identified as a VENTURE or an ENTERPRISE which is categorized under Part B of the Companies and Allied Matters Act (CAMA).
As a sole proprietor or partnership, Akahi G. International recommends you go for BUSINESS NAME (VENTURES or ENTERPRISES). It is the fastest and most convenient form of doing business by any business starter who wants to legalise His or Her Business in Nigeria today through Corporate Affairs Commission.
The registration of a business name can be done by a sole proprietor or partners.
Section 574(1) CAMA makes it compulsory for every establishing firm, individual or corporation required to be duly registered under Part B, to be registered within Twenty-Eight (28) days from the date of the commencement of the business for which registration is mostly required.
At this point, it is paramount to note that the requirements and criteria for registration of a business ventures or an enterprises are significantly different in most situations from that of a limited liability company or incorporated trustee. You are expected to follow this link for others.
Procedure For The Registration Of Business Name In Nigeria
The first important thing to do before proceeding with a registration of the business name is to gather the necessary requirements or documents to be used for the registration.
The requirements for registration of business name are minimal and simply involve names and identification of the partners or proprietors of the business, where more than one person is to register the business name.
The requirements may also include a partnership deed where necessary.
The procedure for how to register a business name in Nigeria or how to register a business enterprise in Nigeria with the Corporate Affairs Commission (CAC) includes few steps, which must be adhered to strictly in getting the desired results. These steps include:
Step One On How To Register Your Business Name In Nigeria
• First, an applicant should apply for availability check and reservation of the proposed business name through the CAC Portal.
• Applicant should now proceed to fill all necessary columns rightly in the Statutory Form (FORM BN1) and submit it appropriately. After the successful filling of the form, the applicant is to proceed with the payment of the necessary fees
• Subsequently, the applicant must print Business Name FORM BN and sign and date the required aspects of the form.
Step Two On How To Register Your Business Name In Nigeria
Applicant must now submit or upload the duly completed statutory form together with two sized passport photographs
Below are the documents to be uploaded:
– Availability Printout —– (It is the same as the Approval Note).
– Statutory Form (FORM BN 1)
– Proficiency Certificate (where applicable)
– Means of identification
– Payment Receipt.
Finally, after the registration of the business name, the following documents would be given back to the proprietors by the CAC:
– Original Certificate of registration of the business name
– CTC of the Application for the Registration of the business name
Meanwhile, a business name of more than one proprietor may choose to file a partnership deed with CAC after completing the registration process.
How long does it take to register a business name in Nigeria?
Business name registration is faster at Akahi G. International. If the applicant provides us with all the necessary information required, it will take only 48 working hours to register a business name and get your registration certificate delivered at your doorstep within Nigeria by Akahi G. International a recognize business with the commission who has helped thousands of Businesses already registered with the Commission.
The cost of business name registration in Nigeria with Akahi G. International
At the moment, the cost of CAC official filing fee for the registration of business name in Nigeria is N10,000 (Ten Thousand Naira Only) apart from search and research and correction if applicable during name reservations. However, where any accredited agent is engaged by the applicant for such registration, the agent will also charge a professional fee for the services to be rendered. In light of this, Akahi G. International charges only N20,000 (Twenty Thousand Naira) for all the processes involved in other to get the registration done and delivered to your doorstep without error. Click here to apply now!
Submission On The Topic: “How To Register Business Name In Nigeria”
Business name registration is indeed a convenient and fastest means of setting up a small business in Nigeria. The procedure for how to register a business name is less tasking compared to the procedure for a Limited Liability Company registration in Nigeria. The advantages of registering a business name include simplicity in registration, and affordability, as there is no need to pay stamp duty.
Be reminded that an individual can register a business name online himself or herself at the CAC’s official portal because of its less formality but it may cost more to know how to do it without error and may need the service of Akahi G. International for fast and reliable process. Any accredited agent can do it but Akahi G. International does it better with only N20,000 ( your Business Name Certificate will be ready few days from now if you want our services, call Akahi G. International – 08038644328).
It is however important for individuals registering a business name to be aware that registration of a business name does not entail a separate legal personality like a limited liability company, and any liability incurred in the cause of doing such business maybe personally extended to the owner or the proprietor of the business.
Finally, it is worthy of note that a foreigner intending to participate in Nigeria business cannot do so through a registration of an enterprise, as foreign participation in Nigeria’s business entails different legal requirements, which does not give a room for a foreigner to use a business name as a mode of business set up in Nigeria. You will need a recommendation letter from the Attorney General of the federation.
Akahi G. International Contact For Business Name Registration In Nigeria
Mobile/Whatsapp: 08038644328 Tel: 08025759022
Contact Form For Business Name Registration With Corporate Affairs Commission (CAC)
Read Other Related Updates
- How To Register A Business Name In Nigeria [FREE]
- CAC Free Business Name Registration Support of the MSME Survival Fund
- CAC State Offices In Nigeria | Corporate Affairs Commission (CAC)
- How To Register Your Business Name With CAC At Ease | You Can Do It Yourself