Business Name Registration In Lagos
At Hokdigital Network Limited, we specialize in making your business dreams a reality. Our team of legal experts and accredited CAC consultants have guided thousands of entrepreneurs, just like you, in effortlessly registering their Business Names (popularly called Enterprises or Ventures) in Nigeria.
Ready to get started? Click the ‘Chat’ button below or call us at 08166585090 (available Monday to Friday, 9am-5pm) to speak directly with one of our friendly Consultants. Alternatively, you can also reach out to us via email at info@hokdigital.com.ng for any inquiries or to begin your consultation process.
FAQs On Business Name Registration In Nigeria
A Business Name registration is a process that legally recognizes your sole proprietorship in Nigeria. It’s a simpler alternative to incorporating a limited liability company and a popular choice for those seeking an affordable yet official way to establish their business identity in the Nigerian market.
No, anyone below the age of 18 years cannot be a proprietor.
- Details of the proprietor( name, address and occupation)
- Means of Identification, signature and passport of the proprietor
- Registered office address of the business
- Nature of business
- Ability to open a Corporate Accounts
- Customers/Clients take you more serious if your Company is registered
- Banks. only grant business loans to registered businesses
- Your Company becomes your brand
- Investors are more comfortable with a registered business.
CAC will issue a certificate of registration and status report after approval of the registration.
In Nigeria, certain types of businesses cannot be registered as a Business Name due to CAC regulations. This includes sectors such as schools, travel and tour agencies, oil and gas, and financial services. These industries typically require more formal business structures due to their nature and regulatory requirements.
Foreigners cannot carry on or join in carrying on business under a business name
Ownership: Business Name is owned by an individual, while a Limited Company is owned by shareholders.
Liability: Personal liability for debts in Business Name; Limited Company has limited liability.
Taxation: Business Names are taxed on personal income; Limited Companies on corporate profits.
Compliance: Less formal compliance for Business Names; Limited Companies have more regulatory requirements.
Capital Raising: Limited Companies can raise capital through shares; Business Names rely on personal funds or loans.
Ownership: Business Name is owned by an individual, while a Limited Company is owned by shareholders.
Liability: Personal liability for debts in Business Name; Limited Company has limited liability.
Taxation: Business Names are taxed on personal income; Limited Companies on corporate profits.
Compliance: Less formal compliance for Business Names; Limited Companies have more regulatory requirements.
Capital Raising: Limited Companies can raise capital through shares; Business Names rely on personal funds or loans.
