Question: How Much Does It Cost To Register A Business Name In Nigeria?

How do I register my business name for free?

How to register a business name using ASIC ConnectStep 1 – Log in to ASIC Connect and select the ‘Licences and Registrations’ tab at the top of the page.

Step 2 – Select ‘Business name’ from the drop-down box.

Step 3 – Enter your Australian Business Number (ABN) …

Step 4 – Enter the proposed business name.More items….

What is the difference between a business name and a trading name?

A ‘trading name’ refers to an unregistered name that businesses could use before the introduction of the National Business Names Register on 28 May 2012. A trading name is not a registered business name. If you wish to continue using a trading name, you need to register it as a business name.

What is the difference between registering a business name and registering a company?

The difference between a trading name, business name and company name. A business name is simply a name under which you conduct a business. … A company may choose to register a business name if it wants to carry on a business using its name without the legal terms, or if it wants to use a different name.

What is the cost of registering a business name in Nigeria?

The Corporate Affairs Commission (CAC) has announced a reduction in the cost of business name registration. A business name will now be registered at the cost of N5,000. The service previously attracted a fee of N10,000.

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

1-2 weeksThe 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, however, if you want to register a company, you need the services of a lawyer or other accredited agent.

What’s the difference between registering a company and business name in Nigeria?

A Business name is a registration of a trade name for purposes of business whereas a Company of the incorporation of a separate legal entity to conduct business.

How much does CAC charge for business name registration?

The official application fee for registering of a business name with the Corporate Affairs Commission (CAC) is 10,000 Naira Only. Other fees charged to businesses and companies include: Application form for company name registration costs ₦500.00, and other forms attached cost ₦100 each.

How much will it cost to register an NGO in Nigeria?

The fee for registering an NGO using our service is N200,000 (Two Hundred Thousand Naira only).

What is the advantage of registering a business name?

Registering your company gives you the ability to borrow and incur debt but more importantly, sell shares and raise equity capital. If you had any other business structure, then you would need to pay taxes on your personal income tax statement even if that money is staying in the business.