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Register A Business With Only #12,000 In Nigeria, No Lawyer Needed

Register A Business With Only #12,000 In Nigeria, No Lawyer Needed
You have always wanted to register your own business in Nigeria, but have been limited because of some of the requirements? Well, thanks to the Corporate Affairs Commission (CAC), they have made everything totally easy. 
You no longer need a lawyer, a chartered accountant or an agent. All you need are an internet connection and a credit card, and your business is set.


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As we always do, we're not going to make this post lengthy at all. Follow us,  and take to the steps written, you will see it's very easy.
1. Check for the availability of the name: The first step is to head over to http://services.cac.gov.ng/ and check if your name is still available. The reason being that no two people can register a business with the same name. Sign up as a new customer and provide the required data accurately. After that,click on "Name Availability Search" and enter any two names that are creative and uncommon as your proposed business name. Try to avoid cliché names. 

The submission will cost you only N500 an d you can make the payment via any credit card or any online payment methods. It takes two weeks to get their feedback. If the name you chose is disapproved, then try again.

2. Register the business name you chose: After the approval of your business name, then the next step is it's registration. Log into your CAC account and click on "Action", download the letter of approval from the CAC portal. After opening it, make sure to take note of your approval number.
Then you go back to the website and click on "Registration". It is located on the top left of the website's page. Select business name and paste the approval document on the provided space for it and hit ENTER. 
Please ensure you know the nature of the business, its proprietors and any other relevant questions. You can always save and exit the form anywhere you encounter difficulties. 

*When it comes to enter the nature of your business, always try to have at least three natures of business, and also ensure to add General Contracts. The reason is because you might need to add another business name in the future, which is unnecessary. General contracts cover everything. A mistake in this can cost you extra money in the future.
Make sure everything is accurate as you're filling it up.

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Also, it's very important that:
[i] If asked whether you need any extra copies of the Certified true documents and copies, select Zero. That option is only applicable to people registering a limited liability company.
[ii] You have to submit your form and then you pay the sum N10,000 for the business name. You can pay via your credit card. After that you will get a form to submit to the CAC office which you selected. 

3. Physical Submission: You have to download, print and make about two photocopies of the following:
- The document for the approval of your business name
- All receipt showing the payment from CAC and Remitta
- The form you received on your payment for business name
Take the above documents with two passport photographs, N250 stamp duty fee - to be paid into CAC Skye Bank Account (you can do this before going to the office the bank has the account number) and submit for filing with the corporate Affairs commission. 

Thanks and we wish you greater heights in your business. Please share and if you're confused anywhere, drop us a comment!
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