Starting a business in Nigeria requires proper registration with the Corporate Affairs Commission (CAC). This guide walks you through the entire process, including required documents, fees, and timelines.
Business Name Search
First, conduct a name search on the CAC portal to ensure your desired business name is available. Choose a unique, memorable name that reflects your business purpose.
Required Documents
Prepare necessary documents including valid ID, passport photographs, proof of address, and business address verification. All documents must be clear and legible.
Registration Process
Submit your application through the CAC portal, pay the required fees, and wait for approval. The process typically takes 1-2 weeks for completion.
Tax Registration
After CAC registration, register with the Federal Inland Revenue Service (FIRS) for tax purposes. This is mandatory for all registered businesses.
Bank Account Opening
Use your CAC certificate to open a business bank account. This separates your business finances from personal finances and provides credibility.
Ongoing Compliance
Maintain compliance with annual returns, tax obligations, and other regulatory requirements to keep your business in good standing.