What is CAC?
In this post, you will learn the importance, how to register and benefits of registering your business with cooperate affairs commission. CAC Business Name Registration procedures and promos.
CAC full meaning is corporate affairs commission of Nigeria and it is a board regulating and registering business names and companies in Nigeria.
The functions of this board are getting every business operating in Nigeria register, and provide them with a registration code (RC).
What is CAC Business Name Registration?
CAC Business Name Registration is the process of registering your preferred or business name online using the CAC Portal.
This is the first stage of business incorporation before other processes and it must be approved online with an approval note.
Things needed for business name registration on CAC portal
Every CAC Business Name Registration must provide the following at the initial stage of the registration.
- Valid means of identification (voters card, national identity card, driving license or international passport)
- Provision of two preferred unique names, after which one name will be approved
- Valid phone number and email address
- Specific business address and residential address
- Full names, state of origin, LGA, Date of Birth and Business commencement date
Procedure for CAC Business Name Registration on CAC Portal
The first procedure here is to create an account on the CAC portal;
- Visit cac.gov.ng
- Create account/sign up online on the portal
- Fill the form and access your valid email to confirm the email of account creation sent by the cooperate affairs commission.
- Click the confirmation email from your email inbox and you will be redirected to the CAC Portal for confirmation and verification.
- After successful email verification, log in with your credentials on the CAC Portal Now.
- Login Successful, Click on Dashboard. You will find two categories on the dashboard namely;
- Name reservation
- Company registration
- Click on name registration first and fill the form
- Preview form and click to pay #500 Naira only into the corporate affairs commission through remita.net payment platform.
- The names you provided will be accepted with an approval note
REASON WHY CORPORATE AFFAIRS COMMISSION WILL REJECT YOUR NAME
Before you submit any name for approval, you must do a public name search using this link http://publicsearch.cac.gov.ng/ComSearch/ to confirm that the name you want to submit isn’t registered yet or reserved by another client.
- Provision of illegal names will be disapproved
- Approved names used by another registrar and other reasons.
New Incorporation Procedure for Certificate of Business Registration
Once your name has been approved then you are on the second stage of getting your business certificate. You will need to pay a for the new incorporation online and wait for your business certificate.
Following the directive of the Vice President, His Excellency Professor Yemi Osinbajo, SAN, GCON the Corporate Affairs Commission (CAC) wishes to inform the general public that the 50% reduction in the registration fee for Business Names window has been further extended for 90 days effective 13th May, to 13th August 2019.
The extension is to assist Micro, Small and Medium Enterprises (MSMEs) to formalize their businesses which will enable them own corporate account with Banks, have access to loans, grants, and other government interventions.
Members of the public are enjoined to take advantage of this extension to register their Business Names at the reduced cost of N, 5000.
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