In this article, you will be learning how to register your Business Name Online All By Yourself At The Comfort Of Your Home.
Did you know that the Corporate Affairs Commission (CAC) has made it possible for anyone to register their company and business name online?
'i believe you are now informed so you wont be needing any Agent Or Lawyer'.
Please Bear in Mind "A business name is not the same as a company"
A company name is selected upon incorporation and creates a separate legal entity, distinct form its owners.
While
A business name is selected when carrying on a business under a name other than the true owners name, no legal entity is created and there is no limitation on Liability.
So let’s get into how to register your business name or company online.
Like I said earlier,you will be registering the business name without the help of any agent or a lawyer. that's Amazing Right???
NOTE: *THE CERTIFICATE IS ORIGINAL *NO AGENTS OR LAWYER NEEDED FOR APPROVAL* *NO PAYMENTS OF DELIVERY FEE*
The importance of registering your business name is all about having CREDIBILITY and Yes There are Many More Importance, Check the Article: Importance of business name Registeration
REQUIREMENTS FOR REGISTERATION:
1) You Must Have a Valid Means Of Identification .
2) You Must Atleast have two proposed business names on ground Eg Omaglo and Omaglo Chi Muse.
3) You can't register a name that has already be taken, or a name related to a government agency.
4) Your Business Must have objectives and must be clearly Stated.
5) You must be able to indicate the nature of your business while doing the complete registeration, be it Private Limited company, private Unlimited company or company limited by Guarantee.
6) You must have a verified address, your location must be Verified.
7) If There are Partners,the share of capital of each shareholder must be clearly stated.
Having known All Of This You can Now Proceed to the website for your CAC Registeration.
The Most Important Things You must know and have in mind before visiting the website. Register Your Business
1) Check For Name Availability: Just The Way You Open Twitter and Instagram account,that same knowledge applies here.
Visit this Page to Check If Your Business Name is Available Business Name Search
'You Know if you are creating an Instagram account,if the name you want to use is Loyal Chi and someone else has used the username.
Instagram will pop a message (Not Available or Taken),all you have to do is search until you get the name that has not been taken...
Note:As you are doing the registration some other persons are also doing the registration.
So every possiblity of passing the first stage and your name won't be approved.
2) Name Reservation:After Concluding on the name you want to use for the registration you have to reserve the name,this has a fee of about 500 Naira .
You can only do Reservation if you have created a profile Name Reservation so visit the website and Click on Register Not Login
Register Like you opening an account
Use Correct Details
Fill all compulsory Blocks
Verify your email.
This is the stage you are to know if your business name will be registered or not, it's either you get approved (Reserved) or not approved (Denied).
If you are being denied access to complete Registeration,you will be given some reasons.
All you have to do is edit and continue registration.
*Some Reasons Why Your Name Was Not Approved*
If there’s another business registered with the CAC that uses the name you submitted, it will be rejected.
If the name you submitted is confusing or offensive, it will be rejected.
A proposed business name can be rejected if it includes words restricted by law because they can be mistaken for governmental bodies such as ‘National’, ‘Federal’, ‘Government’, ‘Regional’, ‘State’, or ‘Holding’ without due permission.
Receiving a rejection doesn’t mean you have to end your journey of registering your business with the CAC.
*Avoid the Reason for Rejection*
3) Business Name Registration: After You have successfully Reserved a Name,you can then go ahead and complete your registeration.
You must fill out the form with all the required details and submit it back to the CAC along with other required documents.
Necessary informations you need to provide are:
Approved name of the business,General nature of the business,Address of the business,Details of the proprietor of the business,Signature of the proprietor of the business
and Many Other Requirements.
Some documents to be uploaded include:
Any valid means of identification: National ID Card, Driver’s License, Voter’s Card, or International Passport
Payment receipt.
After you have successfully published all your documents,you will wait for CAC to do a review on the files you published on the portal.
If all your documents are correct, then the registration of your business name would be approved.
Which thereafter,you can download your original certificate carrying your business name and details ,all details you filled during the registeration process will count so be careful during
Beware Of Fraud Sites
Official Website for Business Name Registeration https://www.cac.gov.ng/
All the payments you shall be making will be with your card or the available system you see and all will be done
Hope this was Helpful??
How soon will you be able to register your business' name with the CAC?
Usually it takes 1-2 weeks to register a business name, but the CAC has announced that you will be able to register a name within 48 hours or less.
Are you wondering if uploading pictures and document will give a hard time on CAC portal???
While the process is easy, it is sometimes difficult to upload materials on the portal.
If you have trouble uploading files or pictures to the CAC portal, it might be because you are not uploading them in the correct format.
The format for pictures and signatures is JPEG/PNG, while the format for documents is PDF. You may not submit files that are larger than 5MB.
Will you be able to rectify an error with a reserved business name if you make one?
If you make an error with your reserved name, you may either wait for the approval to expire after 60 days or use the name and apply for a name change after registration.
It costs a total of 10,000 (Ten Thousand Naira Only) to change a business name approved by cac
What if you paid the filing fee but it did not appear on the portal?
You should first confirm that the payment has not been reflected on the portal. If it has not been reflected, contact support@remita.net or your bank. If the portal still doesn't reflect the payment, you should contact support@remita.net or your bank.
A partnership firm can certainly be registered with the CAC.
A partnership must include at least two members and no more than twenty.
You must submit the contact information of your business partner, such as photos, address, phone number, and so on.
Partners can create a Partnership Agreement or Deeds of Partnership that specifies the terms of the partnership.
After you provide all the necessary information, documents, and the payment of applicable fees, your Certificate of Registration will be ready.
It usually takes a couple of weeks to finish this process.
Setting up your company with CAC is simple as you can now see.
It can be quick and simple to register your business.
If you've been thinking of taking this important step in your entrepreneurial journey, and you're ready to get it done now, just follow the steps we provided and thank us later.
