Do you want to establish your business name or company with the Corporate Affairs Commission (CAC) and are trying to figure out how to proceed? If that is the case, the registration process will be explained to you in this piece.
Any public member may open a CAC account if the CAC Login For Free Business Name Registration satisfies the criteria. Please note that you will be the director, trustee, or owner/partner during the registration procedure.
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What Is a CAC Business Name?
The organization in charge of overseeing private and public company registration in Nigeria is the Corporate Affairs Commission (CAC).
Businesses in Nigeria must register their company names with the Corporate Affairs Commission (CAC). It is the legal authority needed to run your company. Additionally, foreign businesses in Nigeria are required to register with the CAC.
Small companies are not required to register their company names with the Corporate Affairs Commission (CAC). However, if you manage a publicly traded firm or a small business with potential expansion, you must have the certificate.
To avoid the difficulties of having to change your company’s name, it is advised that you register your business with CAC as soon as feasible.
On the CAC registration site, you can self-register your company. You do not have to hire an enrollment agent to help you. The CAC office in your State has information on the enrollment procedure.
A lawyer is required for the business registration with CAC of Limited by Guarantee (LTD/GTE), Public Liability Companies (PLC), and Incorporated Trustees.
The Corporate Affairs Commission (CAC) will issue your company name registration certificate within one (1) week of receiving payment.
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Why You Need a CAC Business Name
When a company registers with the CAC, it can establish a legitimate business account with the company name without any problems, increasing your client’s confidence in the company’s ability to pay. After registration, a certificate of incorporation is issued, proving that the company has been registered.
A business’s registration is crucial for its legitimacy, good name, and formal recognition. When a company is established in Nigeria, the owner is given a different legal identity than the company is . The owner of the company is thus given separate legal protection. The company owner will not be held personally liable or accountable for any liabilities that result from the operation.
In addition, applying for a loan with a registered company is simpler than applying for a personal loan. Any business needs funding, and when it’s essential to obtain it externally, particularly from banks, your legal business documents make the process easier. This is so your business can be tracked and tracked as a separate legal body. This establishes faith and lends credibility.
Other justifications for registering your business include:
- You can easily get a visa and travel anywhere for business purposes, which keeps your company’s record with the corporate affairs commission current and assures prospective clients that they are doing business with a reputable company.
- It gives the business owner a competitive edge over many other companies, including those not registered.
- The significance of business registration cannot be overstated because possession of the registration certificate is required to grant the right to conduct business legally and to make accessible all rights and privileges accorded to companies in Nigeria.
- A corporation may be registered under one or more legal forms: business name, partnership, limited liability company, unlimited company, or incorporated trustees. The present is the ideal moment to register for your company.
Enrollment For CAC Business Registration
The Corporate Affairs Commission has simplified the CAC business’ name registration procedure to promote participation from potential company owners and foreign investors.
Please be aware that you are not required to use a chartered accountant, attorney, or any other third party’s services to register your company name with the Corporate Affairs Commission.
How To Enroll For the CAC Business Registration
- Select a company name and verify its availability: Picking a company name can occasionally be difficult. It would help if you associated your company identity with a brand name. Choose a moniker appropriate for your company. Conduct a fast internet search for your selected names and have up to three alternative ideas. This is to ensure that you have at least selected available names to the best of your understanding.
- To register your business name, complete your pre-registration form: Business name registration at the CAC used to take days to produce results. Once the name reservation process is complete, you can properly register the company name.
- Invest in the filing fee: A receipt for your payment will be given to you once the filing cost has been paid. Be aware that you can pay immediately through the website portal or at the bank. The price to register a business name varies depending on the kind of business you want to establish.
- Get Ready to Upload Your Documents: The pre-registration documents must be prepared, signed, and uploaded to the website as a scanned duplicate for processing.
- Submit the original copies of your documents: You must deliver to the CAC office the original, signed copies of the papers you uploaded in step 4. In return, you will receive your certificate and certified true copies of the relevant papers.
What Documents are Needed In Nigeria To Register a Business Name?
The following are the papers that must be submitted to register a business in Nigeria effectively:
- The suggested business email and phone number
- The company’s registered location
- Directors’ and shareholders’ identification papers, such as passports, national identification cards, driver’s licenses, etc.
- Note from the CAC approving a name registration.
- Goals of the business
- Full names, professions, home addresses, and birthdates of directors and shareholders
- Statutory expenses and stamp duty
- When a different registered company (domestic or international) is going to be a subscriber or shareholder to the prospective company, an incorporation certificate and a company resolution are required.
CAC Registering and Login
Before accessing the Programs, you must register on the CAC Registration Portal. Your name, location, date of birth, gender, nationality, email address, and phone number are just a few of the personal details you’ll need to provide to register. The selection of a username is also needed.
The sign-up button, however, will only appear once you’ve completed a form that will be filled out for you before you can hit it. You must log in to continue providing the required services even if you have already registered. The requirements for CAC login for free business name registration will be discussed in the next part of this article.
Requirements For CAC Business Names.
The requirements for CAC login for free business name registration include:
- The registration of a company name requires the presence of one person (to register as a single proprietor) or a maximum of two people (to register as a partnership).
- Individuals registering must provide personal identification papers.
- The list of documents to upload is also provided below for registering a CAC company name.
- Colored visa photograph.
- Dependable means of identifying (e.g., National ID card, International Passport, Voters Card, or Drivers License).
Registration & Password for CAC
Please visit the Corporate Affairs Commission (CAC) webpage at https://www.cac.gov.ng.
- On the page’s main menu, select “e-Services.”
- Click the “Login/Sign Up” button at the upper right of the page.
- Choose “Sign Up” if you’re a brand-new member.
- Your name, email address, phone number, and other sensitive information.
- To access your CAC account, create a login and password.
- To finish the registration procedure, click the “Sign Up” button.
- If you already have an account, enter your username and password, then select “Login.”
- Click the “Forgot Password” option and follow the directions to reset your password if you’ve lost it.
- After logging in, you can utilize the various e-services provided by the CAC, such as document filing, name searching, and company registration.
- It is crucial to remember that to finish the registration procedure; you will need a working phone number and email address. Additional documentation or information may be requested from you to prove your identification.
It used to take a long time and numerous documents to register a business name in Nigeria. However, it’s relatively easy to register a business name these days with the Corporate Affairs Commission.
Advice for Obtaining CAC Approval of Your Business Name
Here are some suggestions to help you choose a strong company name at the CAC Name Availability Search:
- Be incredibly inventive: Some titles are well-known and simple to come up with. It’s simple to find the word “Amazing Grace Nigeria Ltd” if you’re considering using it. There will undoubtedly be established businesses with one or both words in their names. Make up some unusual phrases.
- Examine various languages: You could, for instance, translate common words into French, Spanish, or your original tongue if you are a fan of those languages. Your chances of having your name reserved are greater. For instance, “Red” can be translated as “Colorado” or “Rouge” in French (Spanish).
- Make your company name more specific: Let your name represent the nature of your operation; it will help you differentiate your company name from others bearing similar names but are into different types of business and, as a result, get approval. We can use “Johnson Publishing House Ltd” if “Johnson Nigeria Limited” and “Johnson Engineering Services Ltd” have been incorporated and we are a publishing company. It should be authorized.
- Do a name search on Google: Utilizing corporate websites, blogs, online business directories, social media pages, etc., many companies are establishing an online presence. It’s possible to find an existing business with a name similar to your proposed name if you Google it. You can further hone yours using this information.
CAC Login For Free Business Name Registration Frequently Asked Questions
How much will it cost me to register my business name with CAC?
The Corporate Affairs Commission (CAC) application fee for registering a company name is 15,000 Naira only). Other costs imposed on firms and organizations include the application form for registering a business name costs $500.00, and the additional forms are each $100.00.
How can I confirm a company name?
An online entity name checker is available on most state business registration agencies’ websites. The online tool can be used to explore business names and determine whether another company is already using the name you have selected for your company.
What is the time frame for CAC name registration?
The name inquiry is finished between 24 and 48 hours. If the name is approved, the CAC will issue an Approval Note showing the name has been reserved for the applicant’s registration.
Are all company names required to be registered?
If you run a business using a name other than your own, then yes, you must register a business name. A company name, also called a trading name, is the name or designation by which an individual or other legal entity conducts business. When registering a company name, you do so on a national level.
Is CAC membership a temporary status?
All businesses registered in Nigeria must submit yearly returns to the CAC even though they do not have an expiration date once registered and are not subject to renewal. On behalf of the business, a lawyer could submit this.
How do I obtain a CAC certificate?
After you register any entity on the portal, it is instantly approved by the Commission. A certificate is produced immediately and sent to your dashboard to download whenever you like.
Conclusion
By now, you know that your company’s legitimacy is confirmed by business registration, which protects your standing in the marketplace and nation. In addition, the government helps companies by offering free briefings and seminars to educate business owners about the firm and sector.
The CAC login for free business name registration requirements has also been discussed. CAMA created the Corporate Affairs Commission as a regulatory agency to oversee the establishment, operation, and dissolution of businesses, trade names, and incorporated trustees.
If the application is accepted, the CAC will issue the company with electronic certificates of incorporation, a Tax Identification Number, and other papers related to incorporation. Online downloads of the Diploma, Application for Registration Form, and MEMART are then available for the Applicant or its Agent.