To register a business in Nigeria: 1) Reserve name on CAC portal (post.cac.gov.ng). 2) Prepare documents (ID, photos, address proof). 3) Complete online application. 4) Pay fees (₦10K-₦15K for Business Name, ₦50K-₦150K for LLC). 5) Upload documents. 6) Receive digital certificate (24-48 hours for Business Name, 5-14 days for LLC). After CAC registration, register for TIN at FIRS.
Business Registration in Nigeria
Complete guide to registering with CAC—costs, requirements, and step-by-step process
How much does it cost to register a business in Nigeria?
Business Name (sole proprietorship): ₦10,000-₦15,000, completed in 24-48 hours. Limited Liability Company (LLC): ₦50,000-₦150,000 depending on share capital, takes 5-14 working days. Both are done online at the CAC portal (post.cac.gov.ng). Add ₦30,000-₦100,000 if using an agent.
Business Name vs Limited Company
| Feature | Business Name | Limited Company |
|---|---|---|
| Legal Status | Not separate from owner | Separate legal entity |
| Liability | Unlimited (personal) | Limited to shares |
| Cost | ₦10,000 - ₦15,000 | ₦50,000 - ₦150,000 |
| Timeline | 24-48 hours | 5-14 working days |
| Annual Returns | Not required | Required yearly |
| Taxation | Personal Income Tax | Company Income Tax |
| Suitable For | Freelancers, small traders | Growth businesses, contracts |
| Bank Accounts | Personal or business | Separate company account |
| Ownership Transfer | Complex | Via share transfer |
| Investor Friendly | No | Yes |
Registration Process
Reserve Business Name
Prepare Documents
Complete Online Application
Pay Registration Fees
Upload Documents
Receive Certificate
Required Documents
For Business Name
- Valid ID (NIN, passport, or driver's license)
- Passport photograph
- Proof of address (utility bill)
- Proposed business name (2-3 options)
- Nature of business
For Limited Company
- All Business Name documents
- Memorandum & Articles of Association
- Details of at least 2 directors
- Details of company secretary (optional now)
- Share capital structure
- Registered office address
- Consent to act as director forms
What to Do After CAC Registration
Get Your TIN
Register with FIRS for Tax Identification Number within 30 days
Open Bank Account
Open a corporate account with your CAC certificate and TIN
Register for Taxes
VAT (if turnover >₦25M), PAYE (if employees), WHT
Common Registration Mistakes
Frequently Asked Questions
How much does it cost to register a business in Nigeria?
Business Name registration: ₦10,000-₦15,000. Limited Liability Company: ₦50,000-₦150,000 depending on share capital. Additional costs for stamp duty, certified copies, and professional fees if using an agent.
How long does CAC registration take?
Business Name: 24-48 hours online. Limited Company: 5-14 working days. Delays may occur during name availability checks or if documents need corrections.
Can a foreigner register a business in Nigeria?
Yes, foreigners can register companies but must have minimum share capital of ₦100 million for 100% foreign ownership, or partner with Nigerians. Some sectors require local content compliance.
What's the difference between Business Name and Limited Company?
Business Name: sole proprietorship, personal liability, simpler. Limited Company: separate legal entity, liability limited to shares, required for government contracts and investors.
Do I need a lawyer to register a company?
Not legally required, but recommended for LLCs to draft memorandum/articles and ensure compliance. Many use CAC accredited agents who handle the process for ₦30,000-₦100,000.
Start Managing Your Business Taxes
Once registered, use KeepAm to track income, expenses, and stay compliant