You really need to know how to register your business name or company with the CAC in Nigeria, it’s information that you would need sooner or later.
That is because I believe you’d like to have your own business sooner or later (I recommend that you start planning on how you can be your own boss as soon as possible).
The economy doesn’t really help those who work for bosses for a really long time, and then, (if I’m being truthful and honest) you really can’t get a lasting fulfillment from working for someone else.
So, ideally, the goal should be that you become your own boss, managing a profitable business idea.
However, having a profitable business idea is one thing, bringing it into an existence that is legally recognized is another thing entirely.
So, your business idea must be made into a company that is recognized by the government.
How to go about this? Well, there is one governmental body that handles this sort of thing.
That body is the Corporate Affairs Commission, also known as CAC. It is in the sole responsibility of the management, formulation, and regulation of companies here in Nigeria.
As you can see, your proposed company and the CAC have something in common;
you need them to get your company recognised by the government, and they need you… (well, they’re there to help you get exposure to other recognised companies in the country, at least)
Bear in mind, however, that they don’t just register every company that comes their way; the business has to be legal in model, profitable, and most importantly satisfies all their give procedures.
Now you see there are procedures, which then brings us to the main function of the day; how to register your company with the CAC in proper.
Let us got through the procedures necessary to get registered by the CAC.
Step #1: Name your company [Register Your Business Name or Company with CAC in Nigeria]
What’s in a name? An awful lot, that’s what – even more for a company that seeks to sell goods or render services in return for profit.
Naming your company is very important; so important, even CAC understands that. It is the very beginning of your business journey.
Now, there are regulations on what your company name should be; for one thing, it shouldn’t be too long; call your company anything you like, just not something that’s like a tongue twister (CAC won’t take it)
Another thing (which is more important than the first one) is that you need to be sure that no other company bears the same name as the one you’ve just formed.
Luckily you can check that easily, by doing a quick public search on the name. The site you can use to do that is http://publicsearch.cac.gov.ng; simply type out the company name and you get results depending on whether the name has been used or not.
Of course, if it has been used by another company, it means you need to find another name ASAP; otherwise, you got the green light.
Step #2: Create an Account
Now, you would be having real interaction with the CAC. You’re required to create an account with them.
They’ve got a registration page you can quickly access; services.cac.ng. Upon getting to that page, you’d see the Create Account.
Click on it, of course, and get on with filling your details; the most important one includes a working email address – which would be needed when they try to send you a confirmation link later on.
After you’re done filling in your details, click on Register and you’ll have a confirmation link sent to your email. That link confirms your registration and redirects you to the portal.
Step #3: Log in to your Account
After successful account creation, you can then log in. When you log in, one little thing you should quickly do generates your Availability Serial Code.
To do that, find the button labeled “Action”, and click on it. It brings up the option to “Download your name approval”; do that, and you would get a document that contains your Availability Serial Code.
Step #4: Registering the Business Name or Company Name Properly
Continuing further into the registration process, you’ll be required to begin the actual registration process.
Click on the “Registration”, and then select the desired classification either using the business name or company.
Whichever you select, you would then be required to input the Availability Serial Code (remember?); do this and then click “Continue”
Time to fill in the details of your business boards i.e Directors, Proprietors, Chairman and those sort of information.
When done with that, you get to the point where you pay; use the Remita option, or debit card payment)
At this point, your company name has been reserved and your registration is almost complete.
Bear in mind, it is not over yet, as you still need to complete the whole process within 60 days, otherwise the reservation gets taken and the registration gets cancelled.
To finally finish the registration, you need to download the Electronic Stamp Document – because that’s the main thing you paid for.
Step #5: Upload Necessary Documents
All registered… Ready to go! Now, you’ve got to start uploading relevant business documents related to your new company; to do that, visit cac.gov.ng.
There, you see options to upload documents; when you’re ready to upload those documents, be ready with your availability serial code in hand.
You would be required to input the originating/pick-up office to where your certificate would be sent to when it is ready.
Do that, alongside the upload of every single document asked of for the kind of business you want register.
Step #6: Now we wait…
After you’ve done all of the uploads, the next natural thing is for CAC themselves to thoroughly go through them.
This means you have to wait for the process; in order not to be bored while waiting, you can keep checking your profile status, where you’ll find Submitted, Not Submitted, Pending Approval, or Approved.
Of course, you know your wait is over when your profile changes to Approved.
When that is so, you can head on over to your originating office/pickup office with the physical copies of the documents you uploaded. You’ll submit them there, and in exchange, you get Certificate and related documents.
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Conclusion on How To Register Your Business Name or Company with CAC in Nigeria
If you want to have a business here in Nigeria, it means that CAC must be involved at the beginning.
Not to worry, just follow through with the guidelines up there, and you’ll be registered easily by CAC
Do not forget, however, that you need to be transparent throughout the process, as any irregularities could have you penalized by CAC.