Will CAC approve a one word business name?


#1

Yes ago I tried to register a one-word business name at CAC’s office and I was practically forced to append “Nigeria” to the name, can’t remember the reason the lady that attended to me gave.

Will CAC approve a one-word business name? Say “Tropika”. If not, what are some recommended words I can tag to the name?


#2

Yes they can if the name has not been registered by someone else. I have seen lots of business name with one word.
Why visiting their office with staffs with different orientation when you can do it online?
I did private company registration Online and the name availability search and company registration was approved within 10 days, everything cost me approximately 25k including stamp duty.


#3

Hello, Yes one word name can be approved, but for clarity, you may be required to add a suffix
e.g Ventures or Enterprises for the Business name category
Limited if ti is a Limited Liability.

You can do a search on http://publicsearch.cac.gov.ng/comsearch/index.php

Where you cannot find any name in resemblance either directly or as the second word, you may proceed to create an account and continue your registration.

Best Wishes.


#4

Though this is not my thread, I will like to know if you started your business name registration from step 1 to n all online without going to their office.


#5

I did everything online including FIRS e-Stamp Duty and Document Uploads without visiting CAC office, I only visited the CAC office to pickup my Certificate a week after an approved registration.


#6

Cool, thanks


#7

Boss. Can you please drop a summary of the process you went through? Including website link and requirements. Thanks


#8

You will be required to go through the following steps.

  1. Visit http://publicsearch.cac.gov.ng/ and check if your proposed business name or company name has not been registered by someone else.

  2. Proceed to https://services.cac.gov.ng/ (https://services.cac.gov.ng/create-account) and create an account and sign in.

  3. The whole process starts with Name Search, you are required to enter two business/company names with the most preferred name in Name Option 1 and proceed with other information input. This will cost you N500, please use your debit card to pay online. Then wait till you get a response from CAC, you will receive a denial or an approval email notification with Availability Code if your name was approved. The name will be reserved for 60days to enable you process the registration.

  4. Click on Registration, click your business type Business name, Company or Incorporated trustee, enter the Availability Code and proceed with completion of the registration form. Supply only valid information and submit when done. This will cost you I guess N10k for business name and N15k for private company with 1million naira share capital. Please use your debit card to pay online.

  5. You will be prompted to pay FIRS e-Stamp Duty online, follow all instructions. This will cost you around N8.5k for company with 1million naira share capital. Please use your debit card to pay online.

  6. Download the generated Registration Application form (Form CAC 1.1) including the Evidence of Name Reservation (i.e the Name Approval Notice with Availability Code), e-Stamp Duty Certificate and all payment receipts.

  7. Print and Complete the Registration Application form (Form CAC 1.1) with a Black ink Pen, append your signature. Take the form to the nearest High Court for Statutory Declaration which is required in SECTION E of the form. Court normal fee is not more than N200.

  8. When you are done with that, scan the completed signed form and convert them back to PDF files. Scan the directors/proprietors means of identification (government issued ID cards). Also scan your certificate of proficiency where required. All the documents must be in PDF file format.

  9. Visit the Document Upload Portal (http://docupload.cac.gov.ng/docupload/), enter your Availability Code and select Originating State office where you would like your Certifcate to be sent to and Begin. Upload and attached all documents including the payment receipts. Click on SUBMIT only when you are done with the upload and attachment.

  10. Wait for response from CAC, this may take some days, you will receive an approval or denial notice. If denied, login to your CAC account and make the required corrections and resolve the query.

  11. When you receive a registration approval notice, visit the nearest bar and take a bottle of bear to cool the system… Lol! Wait one week or two for your certificate to arrive at your chosen CAC pickup office location. You will be required to submit the Original Copies of all the documents including a colored photocopy of the IDs you uploaded through the Document Upload Portal before you collect your certificate.

I wish you a stress-free registration process and don’t hesitate to revert here when you stumble upon some field/statement you don’t understand.


#9

Wow. Thanks. Wasn’t expecting this much detail. I appreciate


#10

Are you saying you’ve seen a One Word name without Limited e.t.c?
Would appreciate a sample. Because this is normally not allowed, as it has to have Limited or other suffix.


#11

You are welcome Sir.


#12

Business/enterprise name is not allowed to use LIMITED or LTD, only private limited company does.
I have seen one word business name, it will be approved if it is unique. The support staffs have different orientation about choice of name, to avoid unnecessary denial, you can add suffix like Enterprise, Venture, Nigeria, Industries, Global, Technology, Solutions, etc to the business name… For private limited company, use your one-word name + LIMITED suffix.


#13

Great.
However as a Private Limited Company, its impossible to have just ABC as the name right? It has to include LIMITED or LTD or i can just register as ABC?


#14

Yeah you are right, Private limited company must include the LIMITED or LTD suffix…


#15

For FIRS e-stamp duty, is there any special thing or process to it?


#16

No special thing, you will be prompted to pay stamp duty, just click and follow up on the processes and make payment for e-stamping.


#17

Nice one, they could earn more on delivery oooo :bike: . However, I’m stuck making payment as at today( problem with remita/mastercard GTBank i think). The site is yet stable smh


#18

I read this article http://techcabal.com/2015/02/10/startup-setup-basics-part-two-company-business-name-partnership/ It talks about ending …
“up with a company having the generic Articles of Association without any exceptions and qualifications, which would come to bite at a later stage when certain actions need to be taken by the company which the company is not legally permitted to so do by virtue of its Articles and an amendment then needs to be done”

What can we do about this? How can we get a better Article of Association that tallies with a tech startup?


#19

…Now, with the online registration you can now easily write your MEMART. What you need to know about your Memorandum of Association is your Business Objectives. Your business objectives are the things you intend to be doing in your company for instance,

To carry on the business of buying, selling, importing, exporting, transporting, storing, developing, promoting, marketing or supplying.

To cultivate, grow, produce or deal in any agriculture, vegetable or fruit products, food items, vegetable oils, and by products thereof;

To carry on business of oil marketers and marketers of all petroleum and chemical products, petrochemical and allied products, liquefied petroleum gas, and all primary and secondary by products of the oil and petrochemical industry.

The fact remain that you need to be careful with words to be used in your business objective if not CAC will queries your work. for instance if you don’t have master degree in the area you wish to be consulting for. . Similarly words like media, advertising construction required Proficiency of certificate FOR help/ support on CAC WEBSITE 08075800577/08062094853