How much will it cost to register a business name in Nigeria?

As a new business, all you have to pay for is the registration of your business name which is ₦10,000.00. Other fees can be paid for as the need arises.

How much does it cost to register a business name in Nigeria 2020?

The CAC official filing fee for the registration of business name in Nigeria is N10,000 (Ten Thousand Naira Only). However, where an accredited agent is engaged by the applicant for such registration, the agent will also charge a professional fee for the services to be rendered.

How much does business registration cost in Nigeria?

Fees

Different Nigeria entity types Cost Draft invoice
Tax resident LLC US$20,000 View invoice PDF
PLC US$21,403 View invoice PDF
LLC (oil & gas services) US$44,950 View invoice PDF
Representative office US$20,400 View invoice PDF

How much does CAC registration cost?

According to the Companies Regulations 2021, the filing fees for the Statement are N5,000.00 and N10,000.00 for private and public companies, respectively.

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Is business name registration free in Nigeria?

What you should know. Recall Nairametrics reported in October 2020 that President Muhamadu Buhari approved free business name registration with the Corporate Affairs Commission (CAC) for 250,000 businesses across the nation.

How much does it cost to register a business name in Nigeria 2021?

As a new business, all you have to pay for is the registration of your business name which is ₦10,000.00. Other fees can be paid for as the need arises.

How much does it cost to register a business name?

In most cases, the total cost to register your business will be less than $300, but fees vary depending on your state and business structure. The information you’ll need typically includes: Business name.

How much is CAC registration in Nigeria?

To start with, the official cost for registering your business/company name with CAC is N15,000.

How long does it take to register a business name in Nigeria?

The entire process for registering a business name normally takes 1-2 weeks, depending on the workload of the CAC and other factors. You do not need a lawyer to register a business name.

How can I register my business with CAC?

Registration steps for Business Names

  1. Check for availability of the Business Name (click here. …
  2. Complete pre-registration form – CAC-BNo1 and upload relevant registration documents(Online using Company Registration Portal)
  3. Pay filing fee Check the Fees for our Services here.

Can I use my name for my business?

If you’re operating as a sole proprietorship (meaning you are running your business but you haven’t filed with your local government as an LLC or Corporation), you are legally obligated to use your given name in your business name. This is because you pay both your personal and business taxes as an individual.

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Can I start a business without registering it?

You are allowed to operate a sole proprietorship without registering, but you are required to register with your local government to collect and file state taxes. There is nothing wrong with running an unregistered business as long as your business is legal and meets all licensing and tax requirements.

How do I register my business name in Nigeria?

How to Register a Business Name in Nigeria

  1. Choose a Business Name and Check For Availability. Choosing a business name can be quite tasking sometimes. …
  2. Complete Your Pre-registration Form to Register Your Business Name. …
  3. Pay For a Filing Fee. …
  4. Prepare Your Documents For Upload. …
  5. Submit the Original Copies of Your Documents.