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Requirements for Registration of Business Names

1 - Proposed Names

You must supply at least two proposed names for the business. They are called proposed (options) because until either of the names is submitted and reserved for registration by the CAC, you can’t use them for registration. Only the CAC can approve a name for registration. The best you can do is to learn how to choose a name for your business. Always state your preferred name first, because CAC looks at the first name stated, before considering the second. If approved, a name is reserved for 60 days. 

2 - Sole Proprietorship or Partnership

You must signify how many owners or persons would be proprietors of the business, that is, if the business is a sole proprietorship or partnership. If there is only one owner of the business, then the business is sole proprietorship. If there are two or more owners, then it’s a partnership. 

3 - Nature of Business

You must submit the type of business you want to do with the proposed name for name search; for instance, hair & beauty salon, sale of auto-parts, record label, general merchandise, general contracts etc. Unlike a company, the number of businesses that you can list under a business name is limited. Again, you are advised to state your major business first before others, because when the certificate is issued, it is the nature of business that appears first that will be stated on the certificate. So, state your best nature of business first.

4 - Business Address & Branch Address

You must supply the primary address of the business. The fact that you have not rented an office space does not deter you from registering your business. You can use your home address or any other address where you are known or can be traced as your office address. If you have a branch office, you can also state it. This is optional, but it attracts additional fee. Your office address will be known as your registered business address. So, even when you secure or rent an office, or move to another office, your registered business address will remain, unless you apply for it to be changed. When stating your address, endeavour to include the local government and the state.

5 - Email address and Phone number of the Business

You must also provide an email for the business. Usually, since a business name is not different from its owner, you can simply state your regular email as the email for the business. But you could give it a more corporate look by opening an email with the newly reserved name. Some people have more than one email and phone number that they use for their business. But you can only supply one email and one phone number. So ensure that you supply your preferred email and phone number. 

6 - Date of Commencement of the Business

This is a requirement for registration. Ideally, it is advisable to state the date of submission of the application for registration as the date of commencement. The fact that you’ve been operating the business before registering it doesn’t matter. Under the law, no one is expected to do a business in Nigeria unless it is first registered with the CAC. You are however allowed to choose a date not more than 28 days prior to the date of submission of the business for registration.  


7 - Proprietor / Partners Details

The following details are required for the proprietor / partners of the business:

  • Full names, as it appears on your valid ID card
  • Service Address – this is usually the registered business address
  • Residential Address
  • Personal Email – this could also double as the business email
  • Phone number – if you have more than one, you can use one for the business address, and the other as your personal phone number
  • Occupation – the default occupation for those into general merchandise or contracts is “businessman, businesswoman or business.” If you are a civil servant seeking to start a side hustle different from agriculture, simply state your occupation as business.
  • Date of Birth
  • Valid ID card (PVC, National ID, Int’l Passport, NIN, Driver’s Licence)
  • Passport photograph

8 - Proficiency (Qualifying) Certificates

If you’re a professional seeking to register a business in your field, you will be required to supply your qualifying certificates and licences to practice in your field; for instance, medical doctors, dentists, trado-medical practitioners, lawyers, surveyors, etc.  

9 - Registration Fees 
Last, but not the least, you must pay for the registration. Often times, this is the first thing that everyone seeking to register a business considers. This is important, because it will help you to plan financially for the registration.

Articles on this site are meant for general knowledge only, not as professional advice. If you need personal advice on matters contained herein, you are advised to contact a professional.

We are a firm of legal practitioners and CAC certified agents. We help business owners, entrepreneurs and associations register their businesses, companies and associations with ease. If you need our help with any of the matters contained in the article, feel free to send us a mail at niyiama@yahoo.com or reach us on WhatsApp at +234-08126194751.
   


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