How To Register Your Business in the Corporate Affairs Commission (CAC) in Nigeria
Do you want to register your business in the corporate affairs commission ( CAC ), but your problem is that you don’t know how to begin the process and successfully open an account. Here I’ll show you how to do it. So let’s get started.
The Benefit of Register a Business In CAC ( corporate affair commission ) In Nigeria.
In this section, I’m going to show you the benefits of registering your business in CAC ( corporate affair commission ). So let’s dive in…
1. Secure your business name.
If your business is registered under CAC, nobody will be allowed to use your business name.
2. Business legal recognition.
One of the benefits of registering your business is that your business will be protected and legal to operate.
3. Gain people trust.
If you register your business under CAC, customers, investors, and business suppliers will see your business as legitimate than those that are not registered.
Registering your business shows you have good intentions because fake business owners want to ensure that they hide everything concerning them from the government and other high authority forces.
4. Help your business obey legal requirements.
Most businesses at the end of the day shutdown or fall into serious fines ruining their business reputation.
Registering your business will prevent you from encountering such an experience, they will guide you not to encounter them.
5. Easy access to get a loan in the bank.
If your business is registered under CAC Nigeria, bank will find it comfortable to lend you money to operate your business. Nigeria bank preferred to lend those who have registered their business under CAC.
How To Register Your Business Under CAC ( corporate commission affairs)
That’s it? Let me not show you how to open a CAC account in simple details. Follow step one after the order to successfully open an account. Let’s get started.
Step 1: Choose a Business Name
Brainstorm business Names ideas.
The first thing that you need to do to open a CAC account is you need a name for your business. They are different ways you can get a business name idea which are ：
- Finding ideas that rhyme with your business.
- Make the name simple to spell and remember.
- Mix the name together to come up with a name idea even though it doesn’t make sense.
- You can ask your friends and family to get business name ideas.
- There are some tools that can help you to generate business ideas like, wordlap, namemesh, dot-o-mater, getsio. Check them out to see if it will be useful for you.
- Settle for a name that in future you will not be thinking of changing.
2. Check if the name is available.
Most of the business names you will choose people will have use it, no one is allowed to use existing business name ideas. To know if the business name you choose is available.
Use the CAC name search tool on their website. If the name you prefer to use has been used by another person, you need to keep on finding a name until you get a name no one has ever used.
Step 2: Prepare Required Documents.
CAC (Corporate Affairs Commission) asks you to provide some documents to be able to open an account based on the business you are doing.
The following required documents are :
For a Sole Proprietorship.
- Valid ID (National ID.
Driver’s license, or international passport)
For a Partnership.
- Partnership agreement
- Valid IDs for all partners
For a Limited Liability Company (LLC).
- Memorandum and Articles of Association
- Valid IDs for directors and shareholders
- Proof of address
According to your business type, you should provide the requirement to be able to open an account.
Step 3: Complete the Registration Forms
Visit the CAC Website.
Use your preferred browser to visit the CAC official website to register an account. Their official website URL is
Fill Out the Forms accurately.
Choose the form that matches with your business structure. (e.g., Form CAC 1.1 for LLCs).
3. Provide Accurate Information.
You should ensure that every detail you are filling is accurate to avoid upfront problem. If you are done filling the form, recheck it to ensure that you are not making any single mistake.
Step 4: Pay the Registration Fees
Calculate Fees.
To open CAC account is not free, you have to pay money to complete the process. According to your business model, check the amount they charge you.
Make Payment.
If you have figured out the amount they charge for your business, pay by using the CAC portal either using a bank card or bank transfer. The two options are good to make payment, choose the method you feel comfortable to make payment.
Step 5: Submit Your Application
Upload Documents.
Add all the whole documents that they ask you to fill in the registration form.
Submit Online.
Every submission process given to you, complete them, which is very simple to fill out.
Step 6: Await Confirmation.
Processing Time
Then wait for them to approve your application. This will take days, weeks or even a month depending on your business type and if you successfully complete the registration process. Just sit down, relax and wait for them to approve your application.
Receive your CAC Certificate.
If the application is approved, you’ll receive a Certificate.
Step 7: Obtain other necessary Licenses and Permits.
Every business has their own permit and license, you should check whether there’s any other license or permit, you need to have aside from CAC ( cooperate affairs commision) able to operate your business to avoid problems occuring.
Step 8: Open a Business Bank Account.
If you have successfully opened a CAC account. You can use it to open a business bank account to manage your finances and make transactions.
So this is how to register your company/business in CAC ( cooperate affairs commision). If you have any questions, use the comment section below.
