Changing a business name with the Corporate Affairs Commission (CAC) in Nigeria involves several steps and processes. Here is a general outline of the process involved in changing a business name with CAC in Nigeria:
Choose a new name: Decide on the new name you want for your business. Ensure that the new name complies with CAC’s guidelines and doesn’t infringe on any existing trademarks or business names.
Conduct a name search: Before proceeding with the name change, you need to perform a name search with CAC to confirm if the new name is available and hasn’t been registered by another entity.
Obtain and complete the relevant form: Obtain the “Change of Business Name” form. Fill out the form accurately, providing all the required information and supporting documents.
Prepare required documents: Along with the completed form, you will typically need to submit the following documents:
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Board resolution or minutes of a meeting authorizing the name change (for companies).
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A copy of the current Certificate of Incorporation.
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A copy of the Memorandum and Articles of Association reflecting the new name (for companies).
Payment of fees: Pay the required fees for the name change process. The fees may vary depending on the type and size of the business.
Verification and processing: The CAC will review your application, documents, and proposed name to ensure they meet the necessary requirements. The processing time may vary, but it generally takes a few days.
Approval and issuance of new certificate: If your application is successful, the CAC will issue you a new Certificate of Incorporation with the updated business name.
Notify relevant authorities: After receiving the new certificate, you should inform other relevant authorities and stakeholders about the name change. This may include your bank, tax authorities, vendors, customers, and business partners.
It’s crucial to keep a record of all communications, receipts, and certificates related to the name change process for future reference and compliance.
You should understand that you will need to file the annual returns of the business up to date before you can apply for a change of business name. I am here to help you in filing your annual return and apply for the change of business name.