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Nairaland Forum / Nairaland / General / Business / How To Register Your Business In Nigeria (30911 Views)
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How To Register Your Business In Nigeria by leksmedia: 12:37pm On Oct 18, 2016 |
Everyone one is always talking about starting a business, but no one is talking about how to register a business in Nigeria. So here we will be explaining several steps to register your business in Nigeria. So are you planning to start a business in Nigeria or possibly running a business that is not currently registered, it is advisable to quickly register your business before someone else does. So to register your business in Nigeria is a simple task. To get your business registered in Nigeria, you will need to go through The Corporate Affairs Commission also known as (CAC). The Corporate Affairs Commission (CAC) is the governmental body responsible for registering businesses , corporations and companies in Nigeria. Corporate Affairs Commission was established by the Companies and Allied Matters Act , which was promulgated in 1990 to regulate the formation and management of companies in Nigeria. We shall go through different steps to register your business in Nigeria. Types of Business You can Register in Nigeria Business Name: Sole Proprietorship (One man’s Business): Private Limited Company (LTD) Public Limited Company Company Limited by Guarantee etc Why You Should Register your business in Nigeria So that someone else doesn’t register your business To become a registered and recognized business To be able to open an account You cannot get a loan without a business name Government and top organisations don’t give out contracts to businesses that are not registered It makes you a legitimate business How to register your business in Nigeria You can either register your business online or offline. Either of the two you will have to complete your final registration by visiting the office of the Corporate Affairs Commission (CAC) closest to you. 1. Online Registration: Visit The Corporate Affairs Commission (CAC) official website on cac.gov.ng, click on “Click here to go to Company Registration Portal (CRP)” to register on the website or click “Public Name Search” to check if your business name is available. Please note that Corporate Affairs Commission (CAC) has the right to disapprove name(s) that are • capable of misleading as to the nature and extent of its activities • undesirable, offensive or contrary to public policy • identical with or similar to the name of a registered company unless the registered company is in the course of dissolution and consents in writing • contain the phrase “Chamber of Commerce” unless it is a company limited by guarantee • would violate any existing trade mark or business name unless with the consent of the trade mark or business name owner • would violate any incorporated trustee unless with consent of the trustees Source : Business Mopol - Register your Business in Nigeria 17 Likes 15 Shares |
Re: How To Register Your Business In Nigeria by leksmedia: 12:45pm On Oct 18, 2016 |
Steps to Register Your Business Online on The Corporate Affairs Commission Website Search for your proposed Business Name to see if it is available ![]() Click on Create account to Register on The Corporate Affairs Commission’s website ![]() Login to the portal ![]() Choose your preferred names and another one incase the first is not accepted ![]() Fill in your business Information then submit ![]() Note you will pay a sum of N500 for the name reservation. They have several payment options for visa, master card and even bank payment. Once you have successfully made your payment, wait for at least 24-48 hours to check if your name has been approved. Once your name has been approved, you will be required to pay the sum of indicated below the final registration. 3 Likes 1 Share
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Re: How To Register Your Business In Nigeria by leksmedia: 12:48pm On Oct 18, 2016 |
Offline Registration The offline registration requires you to get a lawyer or accountant if you are registering for a limited liability company or others rather than a Business name. If you are registering for a business name, you might not require the service of a lawyer as you can just walk into any of the offices of the Corporate Affairs Commission (CAC). Pick up your registration form and pay the sum stated for your business. These rates are as at October 2016. Notes they may be subject to change Read More here http://www.businessmopol.com/register-business-nigeria/ 3 Likes |
Re: How To Register Your Business In Nigeria by Kelvinprinzyy(m): 1:04pm On Oct 18, 2016 |
![]() does Nigerian economy encourage entrepreneurship 2 Likes 2 Shares |
Re: How To Register Your Business In Nigeria by kings09(m): 2:59pm On Oct 18, 2016 |
Ok |
Re: How To Register Your Business In Nigeria by ozuru(m): 2:59pm On Oct 18, 2016 |
Nice Post |
Re: How To Register Your Business In Nigeria by Hdz4luv: 3:01pm On Oct 18, 2016 |
Kilo ni |
Re: How To Register Your Business In Nigeria by AjalaJ(m): 3:01pm On Oct 18, 2016 |
There's nothing new here.... But I think it is helpful for those who don't know how to get started. However, people should know that CBN and banks policies are killing businesses. Neteller here: .com.ng |
Re: How To Register Your Business In Nigeria by Nobody: 3:02pm On Oct 18, 2016 |
Thanks for this information! So timely! 1 Like |
Re: How To Register Your Business In Nigeria by speedyconnect3: 3:03pm On Oct 18, 2016 |
leksmedia:So do you think you can do all yourself without involving a professional? 1 Like |
Re: How To Register Your Business In Nigeria by enjoy1100: 3:04pm On Oct 18, 2016 |
Thanks |
Re: How To Register Your Business In Nigeria by Nobody: 3:04pm On Oct 18, 2016 |
At last, this thread. |
Re: How To Register Your Business In Nigeria by AirstarKane(f): 3:05pm On Oct 18, 2016 |
This is just what I need now. I was just thinking of it. Thanks op seem you were going through ma mind. I will be back to modify |
Re: How To Register Your Business In Nigeria by supranor(f): 3:05pm On Oct 18, 2016 |
Nice information... Everything shouldn't be about showbiz n all that.. Nice one 1 Like |
Re: How To Register Your Business In Nigeria by RentALodge: 3:06pm On Oct 18, 2016 |
[b]This is a really good and timely info. Let me list a few reasons why you need to register your business - Getting on Record: One great advantage of having your company registered with the local, state or federal government is to ensure your company name is not registered by someone else. You should always have it in mind that if your company name is “Utibe Etim Ltd” and someone else has already registered “Etibe Etim”, you can’t register “Utibe Etim” because the name is similar to “Etibe Etim”. So always strive to register your company name before someone else snaps it from you. - Certificate of Incorporation: You will be issued certificate of incorporation by the appropriate government agency. In Nigeria the Federal Government of Nigeria issues through Corporate Affairs Commission (CAC), government agency empowered to register companies and issue certificates. - Reputation With Customers: Building reputation especially from customers and clients you’ve never done business before is very difficult. Registering your business gives your potential customers confidence that they are dealing with a reputable organization. If your business is online based and you have the option of customers paying to your company account before you can ship the goods or services, having a registered business together with a corporate account give more credibility and trust. - Account Opening in Your Company Name: Another great benefit of registering your company name is to use it to open corporate account in your company name. Having corporate account give you more credibility and trust from your customers, bank, suppliers and other business partners. - Legal Liability Protection: When you register your business as Limited Liability Company, you are a different entity from your company. You also get legal liability protection. If you incorporate, you will not be held personally responsible for certain accidents and other liabilities. - Getting Loans: When your company is registered, accessing loan becomes very easy compare to personal loan application. With your documents, you are going to have to prove that you’re actually a business. This gives credibility and trust and also ensures confidence and your investors or lenders will see that they are dealing with a company and will be willing to do lend you money if other terms and conditions are made. - Continuity: I love this part so much. Before starting by business, I asked myself this question, “What kind of company do I want to build? Is it a company that continues when I’m dead or company that dies with me?” The answer is obvious, company that continues even when I am not around. So if you register your business, one of the benefits is that even if you’re dead or become incapacitated, your business continues especially when you have the right structure in place. - Hiring Employees: A registered business can employ full-time employees and pay them salaries and other benefits. You have the opportunity to seek for intern especially from National Youth Service Commission or Sure-p that will not cost you a lot in terms of paying salaries and incentives or even cost you nothing in the case of Sure-p. - Business Trip to Other Country: Another great benefit of business registration is that you can easily obtain visa and travel to any country for business purposes. Every country always welcomes foreign investors who are interested in doing business in their country because such good investments will add value to their economy. There are so many benefits you will get from your business registration. If you haven’t registered your business, please start making the necessary steps to register your business.[/b] **If you are a student and you would like to work for RentALodge as a RentALodge contact in your school, see the signature for address. We are recruiting for all schools in Nigeria.** 12 Likes |
Re: How To Register Your Business In Nigeria by sakalisis(m): 3:08pm On Oct 18, 2016 |
Nice |
Re: How To Register Your Business In Nigeria by ultrazone(m): 3:10pm On Oct 18, 2016 |
Nice one OP |
Re: How To Register Your Business In Nigeria by ItsawrapOutfit: 3:13pm On Oct 18, 2016 |
Useful information for entrepreneurs |
Re: How To Register Your Business In Nigeria by mokoshalb(m): 3:21pm On Oct 18, 2016 |
k 1 Like 2 Shares |
Re: How To Register Your Business In Nigeria by czaratwork: 3:25pm On Oct 18, 2016 |
You will definitely know when it is time for something. All things will point towards it. Today marks my first step in birthing my consulting firm by posting a write-up on my facebook page. I was just sharing with people that i will open a blog also and then register the company only for me to come here and see this. It could have only been God. Please throw more light on the best to incorporate for consultancy. Business name or limited liability company and then how much is it for limited liability company. I would also like to know about how to have a blog site. 1 Like |
Re: How To Register Your Business In Nigeria by Nobody: 3:33pm On Oct 18, 2016 |
Awesome ![]() |
Re: How To Register Your Business In Nigeria by ASEJERE: 3:39pm On Oct 18, 2016 |
Very handy.you be witch? thanks for this info. |
Re: How To Register Your Business In Nigeria by biggy26: 3:41pm On Oct 18, 2016 |
So how much for a limited company registration. #1M capital shares? |
Re: How To Register Your Business In Nigeria by poshbaby47: 3:44pm On Oct 18, 2016 |
NICE POST. VERY HELPFUL |
Re: How To Register Your Business In Nigeria by Viktor1983(m): 3:52pm On Oct 18, 2016 |
Very informative. ...Nice one op |
Re: How To Register Your Business In Nigeria by deejeet1: 3:52pm On Oct 18, 2016 |
Informative and educative post for entrepreneurs like me... God bless |
Re: How To Register Your Business In Nigeria by Nobody: 3:53pm On Oct 18, 2016 |
@ rentalodge thank you for throwing more light on this topic what could be minimum amount for private business incorporation that does not require registration |
Re: How To Register Your Business In Nigeria by RentALodge: 3:58pm On Oct 18, 2016 |
carmag: I don't understand your question. Please elucidate. |
Re: How To Register Your Business In Nigeria by Dandsome: 4:00pm On Oct 18, 2016 |
Timely info. Funny enough someone was charging me 20k to do this. I even de beg am self. |
Re: How To Register Your Business In Nigeria by tunebob(m): 4:04pm On Oct 18, 2016 |
nice info... good work @op |
Re: How To Register Your Business In Nigeria by chelseabmw(m): 4:07pm On Oct 18, 2016 |
Lovely |
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