Are you thinking of doing business in Nigeria or are you a budding entrepreneur, then you must have your business registered with the Corporate Affairs Commission (CAC). The law requires that you must register your business before doing legitimate business in Nigeria.
The categories of business registration in Nigeria are:
(a) Business Name Registration
(b) Private Limited Liability Company (Ltd)
(c) Public Limited Liability Company (PLC)
(d) Company Limited by Guarantee (LTD/GTE)
(e) Unlimited Company (ULTD)
(f) Incorporated Trustees (IT)
The different categories have their benefits depending on the type of business you want to deal in.
Aside from being on the right side of the law, some other benefits of registering your business include:
(a) Registering your business helps you secure your business name before someone else takes it. Once you’ve successfully registered the name of your business with the CAC, no other entity can lawfully use that same name to carry on business in Nigeria. That name is reserved for you and only you.
(b) Registering your business adds seriousness and authenticity to your business. It makes you feel more responsible and work harder in establishing your brand. You will be taken more seriously by business partners. A good majority of big firms or individuals will be reluctant to deal with you if you’ve not registered your business.
(c) You will only be able to open a corporate account with your business name only if it’s registered and of course you know the importance of having a corporate current account – it makes people feel more relaxed when dealing with you.
Those are just a few of the reasons why you should register your business, now let’s go to how to go about registering your business with the CAC. If you are ready to register your business we recommend Eloson Technology.
Eloson Technology have successfully registered more than 100 Businesses this year alone.
Eloson Technology is an ICT consultant company that deals with Company Registration, TIN Registration. They also engage in any Nigeria government registration.
office: 107 Umusadege road beside unity bank Kwale , Delta State.