A business ID is a personal business name and it goes a long way to promote your business. There is a need to have your business name duly registered and certified by the Corporate Affairs Commission (CAC). We shall be discussing CAC requirements and how to register a business name.
One of the major responsibilities of the Corporate Affairs Commission is to regulate the formation and management of Companies in Nigeria. Also to register business names, incorporated trustees as well as provide a wide range of ancillary service.
The second most important thing to do after establishing a business is to register the business name with the Corporate Affairs Commission. Business name registration at times can take up to 4 weeks or more so you are to provide all requirements.
The reasons why you have to register your business name is to protect and prevent someone business name from being used by anyone in time to come, it also gives you legal control of the name and finally, it brings trust, confidence, customer to your business.
CAC Requirement For Business Name Registration
The Nigeria Corporate Affairs Commission requirements for business name registration are;
- You will have to choose the type of business to be registered.
- Write the address of the Registered Company.
- Evident of payment of all stamp duties receipt.
- The required member must be from 2-50 members.
- Members of the company must be 18 years and above.
- Have two names you want your company to be known for.
- Particulars of the Directors and toxin binder. ( Include 2 passport photo, Date of Birth, Gender, Phone Number, Email Address, and any stkareooderForms of Identification.
Read Also; How to register Product with NAFDAC
How to Register Business Name in Nigeria
Registering a Business name in Nigeria is not a difficult thing to do if the one you follow the steps and procedures below;
- Select your desired two names and check for their availability.
- Ensure you complete the pre-registration form.
- Proceed and make payment for all filing and stamp duty fees.
- Prepare the following pre-register documents; Memorandum and Article of Association, Form CAC1.1, Evident of payment to CAC, ID form for Directors, Subscribers, Secretary.
- Upload, Scan and Submit documents for final processing.