If you are asking the question – how do I register my business? Hopefully this guide gives you the clear steps and details you need to do that yourself.
Starting a business can be exciting even if laced with challenges. For most businesses it is important to formalise through business registration with the appropriate authorities.
In Nigeria, there are processes with registering your business. Registering your business not only gives it legal recognition but it also helps build credibility when people know they are dealing with a legally registered entity.
Rather register a company? See How to Register a Company in Nigeria
Why Register a Business Name in Nigeria?
There are several benefits to registering your business name. Some of these include;
Legal recognition: Your business becomes an official entity recognized by the Nigerian government and potential partners, customers etc.
Brand protection: When you register your business name it means no one one else can legally use your registered business name.
Access to opportunities: With a registered business, you can open a business bank account, apply for grants or loans, and bid for contracts.
Trust and professionalism: Customers, clients, and investors take your business more seriously.
Types of Business Registration in Nigeria
There are different forms of business structures, but for small businesses and startups, registering a Business Name (also known as an Enterprise) is the most common and cost-effective option.
Other types include:
- Limited Liability Company (LLC): For those looking for a more structured corporate setup.
- Incorporated Trustees: Usually for NGOs, religious bodies, and associations.
In this guide, we focus on registering a Business Name.
Requirements for Registering a Business Name
Before you begin the registration process, make sure you have the following:
- 2–3 proposed business name options
- Brief description of the business activities
- Full name and personal details of the owner
- Valid ID (National ID, Voter’s Card, International Passport, or Driver’s License)
- Passport photograph (scanned or digital copy)
Step-by-Step Guide to Registering Your Business Name
Step 1: Conduct a Name Availability Search
Visit the Corporate Affairs Commission (CAC) portal to check if your desired business name is available. Submit at least two name options to increase your chances of approval.
Step 2: Fill Out the Pre-Registration Form (CAC-BN 1)
Create an account on the CAC portal and complete the online form with the required details. Be accurate and consistent with your personal information and business description.
Step 3: Pay the Filing Fee
The official filing fee for Business Name registration is currently N10,000. You can pay directly through the CAC portal using Remita or other approved payment gateways.
Step 4: Upload Supporting Documents
Scan and upload your valid ID, passport photo, and any other required documents. Review everything carefully before submission to avoid delays.
Step 5: Certificate Issuance
Once approved (usually within 1–3 working days), you will receive a Business Name Certificate. You can download and print this certificate directly from your CAC dashboard.
Post-Registration Steps
After successfully registering your business, here are the next steps:
- Get a Tax Identification Number (TIN) from the Federal Inland Revenue Service (FIRS).
- Open a business bank account using your CAC documents and TIN.
- Register with regulatory bodies (e.g., NAFDAC, SON, depending on your industry).
- File annual returns to maintain your business name status.
