Business Name Registration
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Service Overview
Business name registration in Nigeria is a legal process that involves formally registering a business with the Corporate Affairs Commission (CAC). This registration is essential for operating legally within the country and provides the business with recognition and protection under Nigerian law.
The CAC has streamlined the process by allowing for online registration through its e-portal. This has made the process more accessible and efficient. Overall, business name registration is a crucial step for entrepreneurs and business owners in Nigeria to ensure their operations are legal and protected under the law.
Choosing a Business Name
- Availability Check: Before registration, the chosen business name must be checked for availability to ensure it is not already in use by another entity.
- Reservation: If the name is available, it can be reserved with the CAC for a period (usually 60 days) to ensure no one else registers it during that time.
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Frequently Asked Question
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The registration process typically takes between 5 to 10 working days, assuming all documentation is complete and accurate.
If your chosen business name is already in use, you will need to select an alternative name and check its availability.
Registering a business name is simpler and more suitable for small or sole proprietor businesses. Incorporating a company (as a Limited Liability Company or PLC) provides more legal structure, limited liability for owners, and is generally suitable for larger or more complex businesses.
Yes, operating a business without registration is illegal in Nigeria and can result in fines, legal action, and being barred from formal business opportunities.