Greetings to all you business minded Nigerians reading this post right now and considering setting up a Business or branding your business with an Official name registered with the Corporate Affairs Commission CAC in Nigeria.
In this post we’re highlighting the new developments in Business name registration with Corporate Affairs Commission that will go along way to ease the stress of Business name registrations by the introduction of Online Services and payments.
FYI: The Corporate Affairs Commission (CAC) is a Government institution formulated in 1990 and charged with the responsibility of regulating the formation and management of companies in Nigeria.
Here’s More information about the CAC’s mission, Core values and all that other good stuff.
How to Register Business Name, Incorporate or file Changes Online
Online Business Name Search: This is the first step in registering a business name. It involves choosing a name your wish to use and asking the CAC to check their records if anyone has already registered that name.
This can be done at your State CAC office by filling out forms and paying the business name search fee of N500 Naira but can also be done online too by visiting the CAC Company Registration Portal and submitting the online form indicating with type of company you wish to register and providing two name variations.
It takes about 24 – 48 hours to receive a response from CAC via email informing you if the names you searched for are available to register or taken already. I have personally used the Online Business name search and prefer this option than going to a local office which may take longer manual processing time.
Online Company Incorporation: This also requires you to register for an Account on the CAC Company Registration Portal and fill out the necessary information, Online payments and await a response.
HOW TO PAY ONLINE FOR CAC FEES
Parts of the Online Business name registration that requires payment will suggest you pay with a MasterCard/Visa activated debit card for Online transactions. This means you must have a Token (software token or hardware) to pay online.
If you do not have access to Online payment you can Print out the payment invoice which contains CAC account information and proceed to a bank to pay the processing fees.
We’re here to answer any questions you may have regarding the newly introduced online Business name search and incorporation process by the Corporate Affairs commission.
Let us know how you feel about this or leave any questions below by hitting the reply button
