If you are Reading this post you are probably aware that you need to be registered with the CAC to legally do business in Nigeria.

Most nairalanders have posted great info concerning business registration and I will only be given you the steps I passed through by personal experience.


There are Two Major categories of Registration;

1. Business Name Registration (Sole Proprietor,  Partnership etc; Ventures, Enterprise)

2. Company Incorporation (LTD, PLC, ULTD, NGO, Inc Trustee)

If your desired registration falls under category 2, then you need to see a CAC Accredited Lawyer or Chartered Accountant if you don't want to be scammed. Touts are everywhere, even inside the CAC Complexes except probably Abuja that has strict Access Control.

If your desired registration falls under category 1 (which is what I want to talk about), then I have great info for you.

KINDLY NOTE THAT YOU CAN OPEN A BUSINESS ACCOUNT WITH A BANK BE IT CATEGORY 1 OR 2.



BUSINESS NAME REGISTRATION - STEP BY STEP GUIDE

1. Locate a CAC Office (Ikeja, Yaba or in any state you are residing)

2. Get a payment teller and pay N200 for AVAILABILITY FORM.

3. Fill the information and your[b] 2 UNIQUE names in order of preference[/b].

4. Do a photocopy and submit both for name  search (The staff will stamp and sign the copy for you and retain the original).

5. Go back in 2 weeks to check if your name is approved. If not you repeat the process again.

IF APPROVED

6. Buy the business name form N250 and fill the form. Ensure you don't fill more  than 3 types of business in the space for NATURE OF BUSINESS. Avoid including business that are professionally regulated etc. just keep it simple and real.

7. Take the form to a High Court or Ministry of Justice for Attestation(I took my own to Alausa Secretariat, Ministry of Justice Block 2, take the lift to the 6th floor or use the stair if you are the sporty type). Ask anyone and you will be directed to the office. your form will be stamped and signed and you pay N100.

8. Take the form back to CAC for Assessment and Veriification (It doesn't take more than 5 minutes except there are other people in Que). Your form will bee stamped and signed.

9. After Verification take your form for computer printouts. Ask anyone and you will be directed to the printout desk (Usually upstairs at CAC Ikeja).

10. You submit the form for computer printout and wait to collect it (Doesn't take more than 7 minutes except there are others in Que). A computer printout will be attached to your original form. Read the information to ensure everything is correctly typed. Sign at the top of the first page if the information on the printout is ok.

11. Take both forms back to the Assessment and Verification desk where it will be stamped, signed and written that you can proceed to pay N4,000 for filing.

12. Get a teller and pay N4,000 at designated payment point. Submit your form with teller AND ENSURE YOU COLLECT YOUR RECEIPT.

13. Go back to CAC After 3 weeks to collect your certificate and other documents.

Explore your ideas and start doing business.


TOTAL COST IN WHOLE PROCESS - N4,550

(a) Business name Availability form N200
(b) Business Name Registration form N250
(c) Attestation                        N100
(d)Business name Registration/Filing N4,000

Hope you guys find this guide useful.

thanks alot.

dixono:

thanks alot.

You're welcome

Nice tutorial, Exactly the process i passed through.

@Poster

Thanks a lot, this is indeed helpful.

I am most grateful for this piece of information
someone's been charging me about N25k
God Bless U

andychrist:

@Poster

Thanks a lot, this is indeed helpful.

That's the catch.

nice one

So easy and I have Spent 350k without even getting any result from the Self Made Senior Advocate of Nigeria(SAN) after Three Months now. He Claim to lodge the Application

deltadegre:

So easy and I have Spent 350k without even getting any result from the Self Made Senior Advocate of Nigeria(SAN) after Three Months now. He Claim to lodge the Application

350k? I choose not to believe it.

Even if its LTD, that figure is insanely high.

My Dear i have spend even more than That self, They still do not let me know the status, As i write i have made up my mind to travel back to Canada and continue with me Life there instead of wasting my hard earned cash a registration i can not account for ooh, If any one have any good advice on what i should do right now please write me on : solomondegreat@gmail.com

That's naija 4u. Shine your eye

@Poster

Just a few additions.

CAC forms are available for download at http://www.cacnigeria.org/downloads.html

Are these forms valid? Do we still need to pay during submission etc

Thanks for the info

wale4x35:

@Poster

Just a few additions.

CAC forms are available for download at http://www.cacnigeria.org/downloads.html

Are these forms valid? Do we still need to pay during submission etc

Thanks for the info

The people at CAC won't receive any form without proof of payment.

So traditionally, we buy the form there, get receipt and process it.

Thanks for the info. Who knows the next step to take after registering business name as regards taxes. How do you register for taxes, which agencies do you register with and how do you start paying taxes and VAT? Any advice on these please

What kind of busniess can I do with a registered business name that is not Limited liability company or Public liability company.Can I get contracts with it,can I provide services to people with My registered business name?


Please asisst

Pls can someone answer the last two questions and this

what is the maximum value of contract I can get with a registered enterprise in Nigeria compared with Limited Liability Company?

Thanks

For current procedures on how to register your business in Nigerian, read the step-by-step guide here http://fertilenigeria..com/2013/08/how-to-register-your-business-in.html

obxddon:
What kind of busniess can I do with a registered business name that is not Limited liability company or Public liability company.Can I get contracts with it,can I provide services to people with My registered business name?
Please asisst

Yes you can provide services with your registered business name as long as those services and contracts are stated in your nature of business.

9jabizinfo:
Thanks for the info. Who knows the next step to take after registering business name as regards taxes. How do you register for taxes, which agencies do you register with and how do you start paying taxes and VAT? Any advice on these please

After getting your Business certificate visit any office of the federal inland revenue where you will obtain a TIN (Tax Identification Number). Note that you will need to provide the TIN number to open a business account. You can ask your tax related questions at the FIRS office or better still get a tax manager to take the burden off you.