Business Entity Registration
in Nigeria
SplashDict can assist you with Nigerian Business Entity Registration and formation quickly, efficiently, and seamlessly.
We work with a team of accredited professional consultants, with years of experience handling CAC matters.
Overview of Business Name Registration Service
This is also known as an “Enterprise”. It is registered under Part B of the Companies and Allied Matters Act (CAMA). A business name could be registered as a Sole Proprietorship or as Partnership.
We are dedicated to helping entrepreneurs and business owners in Nigeria to register their business names quickly, easily, and affordably. A business name is the fastest and most convenient form of doing business by a sole proprietor or partnership in a more recognizable form.
Registering your business name not only protects your brand name, but also allows you to open a bank account in the name of your business, apply for loans and grants, and conduct business transactions more professionally.
With the expert team at SplashDict, the business name registration process is quick, easy, and can be conducted entirely online in just a few minutes. So you don’t need to take any more valuable time out of your day than necessary.
Benefits of Registering a Business Name in Nigeria
Company registertaion have several advantages, including:
1
Legal Recognition
Registering a business name with the CAC provides legal recognition of the business entity, which can help protect the business owner from legal issues and provide credibility to the business.
2
Ease
It is cheaper to register a Business Name for your new business than to incorporate a company. When a new business name is registered, it is not required to have formal meetings and rigid corporate governance meetings like companies that are incorporated.
3
Requires less formalities
Running a business name does not require formalities such as meetings mandated by regulatory agencies.
4
Easy conversion process
A business name can eventually be converted into a private limited company, allowing the business to grow at its own pace until it is ready to convert.
5
A sole person can register a Business name
There is no requirement to have a partner register a business name. A sole proprietor can register a business name alone giving such an individual total control over the operation of the business and also access to all the profit.
6
Obtain Business Visa
Another great benefit of Business Name registration is that you can easily obtain a visa and travel to any country for business purposes.
7
Protection of Business Name
When you register a Business Name, it is protected and cannot be used by any other company, nor can another company register a name that is similar to your company name.
8
Cost
A business name registration is relatively cheap and affordable.
9
Tax Benefits
A Business name is not required to pay Companies Income Tax. The owner is only required to pay taxes on their income as an individual.
10
Incentives
When you register your business name, you stand a chance of growing your business through the various business incentives extended to Micro, Small, and Medium Enterprises (MSMEs) by the Federal Government.
11
Business Bank Account Opening
The bank account for your business can bear your BUSINESS NAME, and these brands your business on a whole formal level.
12
Increased credibility
Registering a Business Name in Nigeria enhances its credibility and legitimacy, making it easier to attract customers, suppliers, and investors.
Choosing a Type of Business Name to register
When choosing a type of Business Name to register, it is important to consider the specific needs of the business.
A Sole Proprietorship business sometimes referred to as a “one-man business” is a type of business that is started and run by one person with the sole motive of serving to meet a need and making a profit.
It is arguably one of the most popular business structures in Nigeria. It is a form of business that many Nigerians like Tailors, Carpenters, Technicians, Barbers, and Grocers start on a small-scale, because it is easy to establish, and registration is uncomplicated.
Unlike other entities, it adheres to minimal compliances that make the business journey more seamless. One person is responsible for handling the entire business affair. This person is the sole financier, controller, and manager of the business.
The Business cannot sue nor be sued in its name because it is not distinct from the owner. Sole proprietors in Nigeria don't pay any corporate income tax, since they are not legal entities.
To register a General Partnership Firm in Nigeria, the following requirements must be met:
- Proposed Name of the Business (2 Names).
- The objectives and nature of business.
- Address of the Business (Can also be a residential Address).
- Particulars of the Proprietor - Such as; Name, occupation, residential address, email address, phone number, and means of identification (National Identification Card, Data Page of International Passport, Driver’s Licence, or Voter’s Card)
Where the above requirements have been complied with, the CAC shall within 14 days of the submission of the application register the Business Name and issue a digital certificate of registration stating the name, date, and registration number of the Business.
A general partnership is a business arrangement in which two or more people agree to share all of a company's assets, profits, and financial and legal liabilities. Partners in a general partnership consent to bear unlimited liability, which means they can be sued for business obligations.
Each partner has a right to participate in the management of the company, and each partner must disclose their portion of the company's revenues and losses on their personal tax return.
The corporate entity is not separate from the partners in general partnerships, and the partners are responsible for each other's conduct. The personal assets of the partners are unprotected, and the partnership may be terminated if one of the partners dies or withdraws from the partnership.
To register a General Partnership Firm in Nigeria, the following requirements must be met:
- Two proposed names for the partnership.
- A business address and email address for the partnership.
- The personal information of the partners such as phone numbers, email addresses, date of birth, etc.
- A valid form of identification for all partners and
- Passport Photographs of the partners
Where the above requirements have been complied with, the CAC shall within 14 days of the submission of the application register the partnership and issue a digital certificate of incorporation stating the name, date, and registration number of the Business name.
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LTD IncorporationWhy register your business with
SplashDict?
SplashDict is dedicated and experienced in setting up businesses. Our clients come from all over the world from industries of different sizes and backgrounds.
We strive to complete each engagement efficiently and effectively, to suit each of our clients' needs.
From pre-incorporation to post-incorporation issues, our expertise cuts across different industries and we understand the unique challenges startups in Nigeria face.
Let us help you register your business hitch-free.
All our prices are clear and transparent. Every detail about the pricing is mentioned clearly. Due to our efficient system, our rates are lower when compared to other companies providing the same services. There are no hidden fees throughout the process.
Our efficient online system ensures that all the procedure is fast and prompt. The entered information is checked on the same day. After that, our system sends your data automatically to the Nigerian Registry Forms and is submitted to the government.
Our team members are consistent, reliable, and honest. You can depend on us for your Business Entity set-up requirements in Nigeria
Our motive is to make all the efforts to make our clients satisfied in all aspects. We go out of our way to provide our clients with the best service. We take our client’s feedback into action.
Our approach toward Business Entity registration in Nigeria is creative and flexible. We assist you in case of any unexpected difficulties. We can deal with any kind of challenges along the way. Also, we easily adapt to changing situations.
We have been involved in the registration of hundreds of business entity registrations and almost as many related products and services.
Get started in minutes.
Tell us about your business.
Select and pay for your Business entity type, Enter your business info, and fill out our forms in as little as 5 minutes.
Let us do the work.
Get back to business as we work with the government to file your paperwork with 100% satisfaction guaranteed.
Get excited!
You’re official! We’ll provide you with your business documents while you change your title to CEO.
SERVICES
SplashDict can advise on the type of entity and the appropriate corporate structure.
We'll handle all the paper works; consent application, constitution, minutes of meetings, court declaration, newspaper publications, etc, and every other requirement so you don’t need to stress yourself.
Sole Proprietorship Business Name Registration
A sole proprietorship is a business that is owned and controlled by a single individual who may choose to operate under a registered business name. Use a name other than your own to do business, open a bank account, and build a brand.
One-Person Limited Company Incorporation
A One-Person Company (OPC) is a business structure that enjoys the benefits of both forms of a sole proprietorship and a private limited company. It eliminates finding the right co-partner/s for starting a registered business entity.
Registration of Incorporated Trustees
Incorporated Trustees are typically set up not for profit. Register your NGO, Foundation, Church, Mosque, Association, etc, in Nigeria. Get the public to support the cause through donations, foreign aid, and grants.
Private Limited Company Incorporation
This is the most commonly used company type for small to medium-sized businesses or trading companies in Nigeria. It is a separate legal entity and therefore protects the personal assets of shareholders from business liabilities.
Company Limited By Guarantee Incorporation
Limited by guarantee companies are most often formed by non-profit organizations such as sports clubs, workers' co-operatives, and membership organizations, whose owners wish to have the benefit of limited financial liability.
Private Unlimited Company Incorporation
CAMA defines an unlimited company as a company that does not have any limit on the liability of its members. A Private unlimited company is very much like a regular LTD. When insolvency occurs - You could lose everything.
Partnership Business Name Registration
A general partnership provides a relatively simple way for two or more people to own and manage a business together, each contributing capital, skills, and time – similar to the way in which a single person can operate a business as a sole trader.
Limited Partnership (LP) Registration
It is a partnership consisting of a minimum of two partners, with at least one general partner and one limited partner. An LP does not have a separate legal entity from the partners, i.e. it cannot sue or be sued or own property in its own name.
Limited Liability Partnership (LLP) Registration
A Limited Liability Partnership (LLP) is a body corporate with a legal personality separate from its members. It is a hybrid business form that infuses two types of business; a partnership and a limited liability company.
Benefits of registering your
Business Entity in Nigeria
Regardless of the idea or motive an entrepreneur decides to build a business on, he/she needs legal backing for the business to survive and its life to be prolonged in the long run. Why you should Register your Business Entity in Nigeria?
Nigeria is Recognized Globally
If you are looking to expand your assets outside of your country, investing in Nigeria is a great way and SPlashDict is your plug.
Affordable & Convenient
You can be from any nationality in the world to be a company shareholder and director, and don’t need to be a Nigerian citizen.
Monopoly to Your Business Name
Registering your business gives you a certain uniqueness, monopoly, and legal and exclusive rights to your business name.
Gives you Credibility with Your Customers
Being on the Government’s records confirms your legal existence, which may make your client more comfortable transacting with your business.
Gaining Access to Loans
Your business registration with the Corporate Affairs Commission would serve as a condition precedent for extending credit to your business.
Attract Investors to Your Business
As a business owner, you would like to expand your business reach, and your ability to attract investors and raise money for your business will revolve around how legal your business is.
Ensures Business Continuity
When your business has its own legal identity, it affords its perpetual succession and enables the continuity of such business; should in case of the death of the owner, depending on the entity type, the business still goes on.
Run a Customized Bank Account
A business with a CAC Registration can run a customized bank account portal with any bank of your choice. It is more professional to give your clients a corporate bank name for payment instead of your personal name.
Can Hire Employees Legally
You gain access to hiring and recruiting quality and skilled employees easily from job recruitment agencies and other online platforms. You can even request for NYSC members to work at your company when registered.
Tax Benefits
Most benefits and expenses are taxable, but in a registered company in Nigeria, you could legally offset certain costs that would have been taxable as benefits in kind under personal income tax.
Limited Liability Protection
A business that is incorporated is deemed a separate entity. You are protected, and you are not personally held for certain liabilities.
Gain Benefits Deemed Fit for SMEs
Your business gets the opportunity for expansion through various business incentives made available to registered Micro, Small, and Medium Enterprises (MSMEs) by the Government.
Ongoing support
Once a Busines Entity is set up, we provide a range of services to keep it in good standing—from post-incorporation technical support to ongoing renewal and maintenance services—allowing clients to focus on their core business.
Whether you're incorporating a new company or managing compliance with ever-changing local legislation, you're likely to find yourself in need of administrative support. Which is where we step in.
We can help you by managing board meetings and circulating briefing documents; preparing and managing data rooms for due diligence purposes; ensuring all statutory returns and fees are submitted; drafting corporate documents and agreements; arranging for staff to go on secondment to client teams for short-term secretarial projects; and corresponding with local authorities.
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We offer dedicated company administration services, which include:
- Provision of registered office address for the company
- Provision of resident local director
- Drafting of shareholder agreements
- Maintenance of statutory records
- Preparation and filing of annual returns
- Advice and implementation of changes to company structure, as required
- Company dissolution and windup
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Behind every successful company sits a strong board of directors and a team of administrators, who are knowledgeable and experienced in the regulation of the region in which the company operates.
Our directors are highly qualified, experienced and, above all, trusted professionals in the eyes of our clients and client advisers.
We provide director services from Nigeria, which include:
- Attendance at regular board meetings in person or by video conference call as required.
- Proactive and responsive dialogue with the client, and other advisers and directors on a regular basis and tailored to your preferences.
- Oversight of company administration in accordance with local legal requirements and the constitution of the company, including where constitutions are bespoke to specific client requirements, and other company secretarial requirements.
- Timely assistance with and review of document execution to allow for the efficient operation of the company.
- Access to our director's network of established and international legal, tax and accountancy professionals.
- From Nigeria, we can provide nominee director services held by a resident local director where required, as well as substantive directorship for companies where an Independent Non-Executive Director (INED) appointment is needed to fulfill the board quorum requirement
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When you have worked hard to build a valuable business, you’ll want to do what you can to safeguard what is yours.
We offer a range of services for intellectual property (IP) Protection in Nigeria. Our services provide you with a fast, efficient, and cost-effective route for protecting your inventions, trademarks, or works.
Trademarks are elements of branding; patents protect inventions; copyright protects original expression. Copyright secures Creative or intellectual creations. Trademarks secure the branding under which products and services are sold. Patent secures inventions that are useful for the world and has some use.
Our dedicated IP team will take over the administrative burden to ensure your rights are registered, managed, and protected.
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Every company requires policies and procedures, usually in the form of policy manuals. They are clearly laid out to employees so that they completely understand them, and that their performance meets regulatory standards.
Your company’s policy manual is the go-to documentation that outlines how your business functions. Part of this includes the codes of conduct expected of its employees across operational divisions.
Our team of technical writers includes people who have exclusively dedicated themselves to putting together informative, concise, and easy-to-read policy manuals. They draft documents that will allow your employees to carry out their jobs per your organization’s requirements. Having to constantly train and remind employees what is expected of them is costly and a waste of time.
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We help entrepreneurs and foreign firms navigate immigration regulations in Nigeria when they want to explore immigration for themselves, their families, or their staff.
Who can benefit from our immigration advice?
- Entrepreneurs who want to set up their business in Nigeria.
- Human resources (HR) staff seeking to outsource work passes applications for their business.
- Individuals who want to apply for Nigerian permanent residence.
- Individuals who want to apply for dependent passes for their spouse, parent, or children.
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We can provide you with consultancy services to assist you with obtaining the necessary licenses and permits for your business.
We have staff who are familiar and experienced with the nuances of various industries in Nigeria and have assisted numerous companies in applying for their required business licenses.
Our business license services consist of:
- Research and information on applicable licenses
- Assistance with filing of an application for relevant license(s)
- Responding to requests for additional information from the government
- We can assist with obtaining business permits and licenses in some industries in particularly education, financial advisory services, recruitment, and the travel industry, to name just a few.
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Every business that aims to improve its current position within the increasing competition should take advantage of the best suitable digital marketing services and solutions including:
- Startups & small businesses that want to increase awareness and visibility
- Local businesses that aim to increase store or branches traffic from targeted local customers
- Midsize businesses that seek expansion and increase their customers base
- Enterprises and brands that desire to improve their branding process and develop long-term relationships with customers
- Any type of business which plan to invade new markets locally and internationally
- Entrepreneurs who want to increase the scope of their projects and drive the expected return on their investments.
Whether your business is a B2C or B2B, there’re many customized cost-effective digital marketing services our experienced digital marketing agency can develop that will make a real difference in the journey to achieve your business goals consistently.
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SplashDict provides efficient Business IT Support services to our customers. We can make you more money, save you more time, research the right technology for you, fix any technical problems, assist with cloud migrations, implement data management solutions and more.
We have extensive experience working with SMEs and large enterprises spanning a variety of industries. Whether you are looking for fully managed services, cloud-hosted or hybrid solutions, or simple licensed services such as Microsoft 365, we will help you transform your business into the modern, efficient workplace you are striving for.
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Check out our resource center to learn more about Business Entity Registration.
We’ve got the expert insights your business needs.
Frequently asked
questions.
Each entity has its advantages and disadvantages, so which entity to choose depends on what the company intends to do.
A business name/enterprise is just you doing business with another name, meaning that the business is not separate from you. While a company is a legal entity separate from you.
Company is usually the best form of legal status as it ensures you are not liable in case of ‘business gone bad'. It is also easier to expand into more business ventures, register subsidiaries, and more with a company. Business name can’t offer you this freedom.
You can sell your shares in a company to raise capital. Investors also prefer a company to invest in. That, you can’t do or get with a business name.
If your dream is to have your business outlive you- to transfer the ownership to your upcoming generations, then the company is the way to go. You can have your kids as shareholders. That, you can’t get with a business name.
A foreigner can fully participate in the operation of any enterprise in Nigeria except enterprises on the negative list (which largely relates to the manufacturing of firearms and other military materials).
The foreigner may operate alone or in Joint ventures with Nigerians by means of a company, which has to be formed and registered with the Corporate Affairs Commission (CAC) and with the Nigerian Investment Promotion Commission (NIPC).
SplashDict has a full registration package for foreigners package that includes all the necessary permits, registered address, bank account opening, etc.
LP is a partnership arrangement with at least one general partner and at least one limited partner. The liabilities of a general partner are unlimited, while the liabilities of a limited partner are limited unless he partakes in the management of the partnership.
An LP should consist of not more than 20 persons and the name of an LP should end with the word “Limited Partnership” or the abbreviation “LP”.
The LLP is a partnership arrangement with a legal personality, separate from the partners. The liabilities of the partners of an LLP are limited to the amount agreed to be contributed or outstanding in the event of winding up.
An LLP shall have at least two “designated partners” who would be responsible for compliance with the requirements of the Act of the LLP. The designated partners should be individuals, at least one of whom must be a resident of Nigeria.
