Corporate Affairs Commission (CAC) is the body responsible for the registration of Business Names and Company Names in Nigeria.We all know that business name registration (before) was stressful because you either have to use a lawyer or a professional who will charge you for his services.
The game has now changed as Corporate Affairs Commission has made it possible to register a business name online on your own without a lawyer. In fact, I registered my business name - MAKYEM ENTERPRISE without consulting any lawyer with just ten thousand, seven hundred and fifty naira (N10, 750)
Step by step on registering a business name with CAC
Step 1 : Creating an Account
- Visit http://services.cac.gov.ng/ and click on the Create Account Tab at the bottom of the page.
- Fill in the form and click on "Create Account".
- After creating the account, check your email for your login details.
- Login to CAC website with your login details.
- After login, read the terms and condition carefully and at the bottom left of the page
Click on “I agree” to continue. - Enter your new password twice and click save.
- Click on 'Name availability Search' and type in you your proposed business name. You are requested to type two names. If the first one is not available, then the second one will be approved. In order to prevent disapproval, it is good to use unique names. Please not that you cannot use words like investment, group or limited when registering business names.
- Fill the form that opens next and submit the form when done. Submission of the form would costs N500 and can be paid using you master card, visa card, verve card, etc.
After payment has been made, to check your application status or your payment status, go to "My Reservation History". If your payment was approved and your application status still reads "Not Submitted". Kindly click on "Action" , then click on "View payment history" to enable you know your payment status. If the payment status reads FAILED, DISAPPROVED or IN PROGRESS, kindly click on the "Check Status" to manually check your payment status then wait for 15mins to see the updated status of your payment.
Step 3: Business Name Application
Once your business name has been approved, the next step is the business name registration application. Follow the steps below.
- Log in to your CAC account and once logged in, click on 'action' and download the the letter of approval. Open it and copy of the availability code..
- Log in to CAC website i.e http://services.cac.gov.ng/ with your username and password and click on "Register a Business Name".
- Enter the availability code of your approved business name. The approved company name displays, clickon “Action” there will be a drop down, then click on “register”.
- Fill in the resulting form for business name details and click on “continue”. You can always click on “save and exit” to exit and continue from where you stopped at a later time.
- When you get to nature of business, type in 3 nature of business and continue. You also have the option of picking additional copies of your certified documents though this is not necessary as it will cost additional money.
- After the last step, a preview page will be displayed go through what you have entered so far. Click on “Continue” at the bottom right of the page to proceed to make payment with your debit card. You will be charged ten thousand naira (N10, 000) for the registration.
The final step is the submission of documents at your pick up point in order to get your certificate.
Download, print and make two photocopies of:
- The form you received upon payment for business name
- All the receipts of payment from Remitta and CAC,
- The approval of business name document
You will be requested to pay two hundred and fifty naira (N250) stamp duty fee into CAC skye bank account before the final submission.
I hope this information is helpful. Please share to allow others to have access to it.
If you have any questions, please use the comment box.
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