How to Register a Business Name in Nigeria Online With CAC 2023
In modern business days, registering your business in Nigeria has never been easier. The Corporate Affairs Commission (CAC) has streamlined the process by introducing online registration, making it convenient and efficient for entrepreneurs to establish their ventures.
This guide will walk you through the essential steps and documents required to successfully register your business online with CAC in Nigeria.
Documents Required to Register Business with CAC
Before embarking on the online registration journey, gather the necessary documents to ensure a smooth process:
1. Business Name Availability Search
Conduct a name search to confirm the availability of your chosen business name. Have a few alternative names ready in case your first choice is unavailable.
2. Proposed Business Address
Provide the address where your business will be located. This can be a physical address or a virtual office space.
3. Details of Proprietors
Gather personal information, including names, addresses, occupations, and valid identification documents of all business owners.
4. Memorandum and Articles of Association
For companies, prepare the memorandum and articles of association outlining the company’s structure, objectives, and rules of operation.
5. Means of Identification
Have a copy of the national identification card, driver’s license, or international passport of the business owners.
6. Passport Photographs
Collect recent passport-sized photographs of all proprietors.
7. Proficiency Certificate
For businesses in specialized fields like medicine, law, or architecture, provide relevant proficiency certificates.
Procedure to Register Business with CAC
Now that you have the required documents at hand, follow these steps to register your business online with CAC:
1. Visit CAC Portal
Access the official CAC website (www.cac.gov.ng) and create an account if you haven’t already. Log in to your account.
2. Name Reservation
Submit your chosen business name for the reservation. The CAC will review the name’s availability, and once approved, it will be reserved for you for a certain period.
3. Complete the Registration Form
Fill out the online registration form, providing accurate information about your business, owners, and address.
4. Upload Documents
Scan and upload all required documents, including means of identification, passport photographs, and any applicable certificates.
5. Pay Registration Fees
Calculate the registration fees based on your business structure and pay online through the CAC portal. Keep the payment receipt for future reference.
6. Wait for Processing
The CAC will review your application and documents. This process may take a few days to weeks, depending on the workload and accuracy of your submission.
7. Certificate Collection
Once your application is approved, you’ll receive an email notification. Log in to your CAC account to download your Certificate of Incorporation or Business Name Registration.
FAQs
1. Can I register any type of business online with CAC?
Yes, most business types can be registered online, including sole proprietorships, partnerships, and limited liability companies.
2. What is the approximate registration fee?
Registration fees vary depending on the type of business. They can range from a few thousand Naira for business name registration to higher amounts for company incorporation.
3. Is it necessary to have a physical office address?
No, you can provide a virtual office address for registration purposes.
4. Can I change my business details after registration?
Yes, you can make changes to your business details after registration by filing appropriate forms with the CAC.
5. How long is the business name reservation valid?
The business name reservation is valid for 60 days, during which you must complete the registration process.
With the ease of online registration through the CAC portal, starting your business in Nigeria has become more accessible than ever. Follow these steps and provide the required documents to ensure a hassle-free registration process and a solid foundation for your entrepreneurial journey.
