FAQs

Frequently Asked Questions

How long does Business registration take?

Business registration timeline depends on the category of your entity. Business name (small enterprise) registration (upon fulfilling all requirements) is instant approval, while limited liability company registration takes between 4 to 5 working days.

For not for profits (Ltd/Gte, NGO – Club, Mosque, Association, Charity/Foundation), registration may take between 4 weeks to 15 weeks as these categories require direct consents from the Registrar General of CAC

Can I open a Bank account for my Business after registration?

Registration of your entity; business name/small enterprise, limited liability company, NGO and Ltd/Gte, is the first thing to do. After that, your would also need to get FIRS TIN and TaxPromax (mandatory). Other requirements or licenses depends on the nature of the entity. All NGOs (Club, Mosque, Church, Charity organization, Association) require EFCC SCUML. See Guides

What is the difference between Business name and Company?

Business name is like a one man business/small startup where there owner is responsible for everything, debts, contracts, taxes, etc and its operation is limited in the sense that it cannot be used to easily raise funds from creditors. While limited liability company is more “corporate” standard in nature with more flexibilities.

If you register “ABZ Enterprises” as a Business Name, you are personally responsible for everything — debts, contracts, and taxes.
If you register “ABZ Limited” as a Company, the business itself is responsible, and your personal assets are protected if the company runs into debt.

When to choose each
Business Name: Suitable for small businesses, sole proprietors, or freelancers who want something simple and low-cost.
Company: Better for larger businesses, those seeking investment, or anyone who wants liability protection and credibility

Do I need other things after registering my Business/Company??

Other licenses required depends on the nature of your business or entity. For full information, see our license guides

I have once registered by business/company/ngo, how do I check if it's active and know the status?

All registered entity with the Corporate Affairs Commission (CAC) can be checked on the public search portal. Simply open CAC search portal input the name of your entity (as registered) e.g. ABZ ENTERPRISE or your registration number as shown on the CAC Certificate e.g 8374039 and click on search to check.