What are the steps to officially register my business in Nigeria
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First, decide on a business name and make sure it’s not already taken by doing a name search on the CAC (Corporate Affairs Commission) portal. Someone in Lagos running “FreshTaste Smoothies” first checked online, reserved the name, and paid about ₦500. Next, register as a Business Name or a LimitedRead more
First, decide on a business name and make sure it’s not already taken by doing a name search on the CAC (Corporate Affairs Commission) portal. Someone in Lagos running “FreshTaste Smoothies” first checked online, reserved the name, and paid about ₦500. Next, register as a Business Name or a Limited Liability Company depending on your goals—business name is cheaper and faster, while LLC gives more credibility. Fill in your details on the CAC site, upload your ID, passport photo, and pay the registration fee (₦10,000 for business name as of now). After approval, you’ll get your CAC certificate. Finally, get your TIN from FIRS, which you’ll need for opening a corporate bank account and for tax purposes.
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