Registering a business name is as important for the survival of the business, many shy away from this due to the cost implication. Imagine after struggling to create a value for the business but not registered and some investor from nowhere does a search only to find out the your business name is not registered with CAC (corporate Affair Commission), and registers the company name you have worked so hard n creating so much value for, how sad! Because no matter the SANs you bring into the case in the court of law, you are as good as fighting a lost battle.
Whether you own a shop, or an artisan, large corporation, small or even start-up, you have a certain interest in protecting your brand (business or company name) by registering it fully under the corporate affairs commission.
The company or business name plays a fundamental role in advertising strategy and trade policy of any company. It indeed helps to shape the image and strengthen the reputation of the products of a company to consumers. And image and reputation of a company born of course trust, itself essential to customer retention and enhancement of the company. A carefully selected and nurtured business name is therefore a valuable business asset for most companies.
The onus of this post is to give the reader the step by step information on the cost of registering a business name in Nigeria under the watchman ship of the corporate affairs commission.
If you have been confused as the exact cost of registering your business name in Nigeria, now i got it all covered for u.
Below is the table showing the different costs associated with registering a business name, i also wrote an article on how to register your business name in Nigeria. You need to read it also as it is associated with this post.
At the end of this post, you will have at your finger tips, the cost of registering a business name, how much it costs to register a company name and all that are required in getting a business or company name.
COST OF REGISTERING A BUSINESS NAME IN NIGERIA
|S/N||SUBJECT||FEES in Naira (₦)|
|1||Reservation of Name||N500.00|
|2||Registration of private company with share capital of N1million or less||N10,000.00|
|3||Registration of private company/Increase in Share Capital above N1million and upto N500million||N5,000.00 for every N1million share capital or part thereof|
|4||Registration of private company/Increase in share capital above N500million||N7,500.00 for every N1million share capital or part thereof|
|5||Registration of Public company/Increase in share capital||N20,000.00 for the first N1million share capital or part thereof|
|6||Registration of Public Company/Increase in share capital above N1million and up to N500million||N10,000.00 for every N1million share capital or part thereof|
|7||Registration of Public Company/increase in share
capital above N500 million
|N15,000.00 for every N1million share capital or part thereof|
|8||Registration of Company not having a share capital||N20,000.00|
The cost of registering a business name is Nigeria as seen in this post is quite negligible for a startup business venture!