Step By Step Guide On How To Register A Business With The Corporate Affairs Commission (CAC)

How To Legally Register A Business Name With The Corporate Affairs Commission
The Corporate Affairs Commission is an autonomous body charged with the responsibility of regulating the formation and management of companies in Nigeria.
It was established in 1990 and carries out its functions through accredited members of Institute of Chartered Secretaries and Administrators of Nigeria (ICSAN), the Nigerian Bar Association, the Nigerian Bar Association (NBA) (NBA) and the Association of National Accountants of Nigeria.
The Corporate Affairs Commission is made up of 10 members each representing the respective stakeholders, like the legal profession, the accountancy profession, and the business community.

How To Legally Register A Business Name With The Corporate Affairs Commission

For every business name to be legally recognized, it must be registered with the Corporate Affairs Commission (CAC). Registration of business name is very important for any business or organization that want to create a corporate account, apply for loans or other benefits.
If you are a business owner and still confused on how to get your business name registered, simply follow the steps blow:
- Visit the nearest Corporate Affairs Commission office to submit the name of your proposed business, it's advisable to have two ready names in case your first choice had been taken. Any name that you choose shouldn't contain official terms like national, state or government.
- You'll be given a form to fill in your business name which will be subjected to availability and reservation. You'll be required to pay a fee of ₦500 and it usually takes an average of two weeks for the commission to complete the process.
- After the two weeks elapses, you'll be get a CAC approval if the name is still available or be mandated to pay another ₦500 for a second round of name check.
- Once your business name has been approved, you'll be given a registration form to fill. Information that will be required include:
  – you're approved business name
  – business address
  – name of business owner(s)
  – address of business owner(s)
two passport photographs of business owner(s)
  – nature of your business
- After filling the form, you'll b required to submit it with a fee of ₦4,000 and wait for a reply. This might take between two to four weeks.
After submitting the form, a business certificate will be released to you. It'll be a proof that your business has been legally registered in Nigeria.
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