Starting a business requires that one gets a good business name. In this article, we will be showing you easy steps to follow to register your business name.
After getting a good business name, one of the things that should be of concern to you is how to register this business name.
Registering a business name is not hard. All you need is the right information and direction to follow and that exactly, is the essence of this article.
Importance of registering a business name
Many business owners do not see the need to register their business name most times. But it is not supposed to be so.
Registering a business has its advantages and we have listed some of the advantages below:
- First of, when you register your business name, you get a Certificate of incorporation by the corporate affairs commission (CAC)
- It helps you protect your business name and brand.
- Acquiring loans from the Bank.
- Credibility which can also bring investors.
- The longevity of the Business.
- It will help build customers trust and create a good reputation with customers.
Registration steps for Business Names
- First and foremost, check for availability of the Business Name (click here).
- Reserve a new Name
- Complete the pre-registration form – CAC-BNo1
Note: Steps 1-3 can be completed on the Company Registration Portal (CRP)
- Pay filing fee
- Provide the signed scan copy of the following pre-registration documents for upload. they are:
- Application form
- Filing fee receipt
- Means of identification for the proprietor (s)
- Upload the scanned documents for processing.
It is important to note that individuals can register business names without employing the services of any legal practitioner.
Cost of registering a business name
|S/N||SUBJECT||FEES in Naira (₦)|
|1||Reservation of Name||500|
|2||Registration of business name||10,000.00|
|3||Filing of notice of change of business name||5,000.00|
|4||Filing of notice of change in business address||1,000.00|
|5||Filing of other documents (miscellaneous)||1,000.00|
|6||Search on business name file||1,000.00 per business name file|
|7||Certified true copy of business name certificate of registration||5,000.00|
|8||Certified true copies of other documents||2,000.00 per document|