General Partnership Business Name Registration

₦25,000.00

Register Your General Partnership Business Name in Nigeria with SplashDict

By registering with the CAC, you enjoy legal protection, enhanced brand credibility, and the opportunity to open a business bank account.

Legal Recognition and Protection: A registered business name provides legal recognition, allowing you to operate under a formal name.
It ensures that you have exclusive rights to use the name, protecting your business identity from being used by others.
Ownership and Full Control: The owner(s) of the business have full control over decision-making. Control is shared among the partners (a General Partnership can have up to 20 partners).
No Separate Legal Entity: Unlike a company, a business name does not create a separate legal entity. The business and its owner(s) are considered one in the eyes of the law, meaning owners are personally liable for any debts incurred by the business.
Partnership Agreement: Not legally required but recommended to define roles, profit-sharing, dispute resolution, and procedures for adding or removing partners.
Annual Compliance Requirement: Registered businesses must file annual returns with the Corporate Affairs Commission (CAC) to maintain their active status and legal compliance.
Business Name Conversion: A business name can be converted into a Private Limited Company (LTD) or other types of entities if the need arises for a more complex structure in the future.
Taxation: Tax in Sole Proprietors and Partners are applied to the personal income of the owner(s).

Proposed Business Names: At least two (2) options (1st choice and alternative).
Business Objectives: Description of the nature and objectives of the business.
Details of Business Partners: Provide Personal details - Full name, Address, Date of birth, Nationality, Means of identification, Occupation, passport Photograph, and signature.
A General Partnership must have at least two partners and a maximum of 20.
Business Address: Proposed business address (can be a home address or a separate business location).
Partnership Agreement: While not required for registration, having a partnership agreement that outlines roles, responsibilities, profit-sharing, and management is highly recommended.

Legal Recognition and Credibility: Registering your business name grants you legal recognition, allowing you to operate formally. This enhances your business's credibility with customers, partners, and financial institutions.
Protection of Business Name: Registration protects the Business name, preventing other entities from using it within Nigeria.
Access to Certain Services: Some services may require a registered business name, such as opening a business bank account or obtaining certain licenses.
Easier to Convert to a Limited Liability Company: A registered business name can be easily converted into a Private Limited Company (LTD) if your business grows, offering limited liability protection and expansion opportunities.
Raising Capital: It is easier to raise capital by admitting new partners. Existing partners can contribute additional capital as needed.
Flexible Operations: Suitable for small-scale businesses or entrepreneurs who want a low-cost, low-maintenance structure.

Here's how SplashDict's team of CAC-accredited Chartered Secretaries can help:

Business Name Registration: General Partnership Business Name Registration with the CAC.
Documentation: We handle all required registration documents.
Transparent Pricing: CAC registration and Filing fees are included with no hidden charges.
TIN: Tax Identification Number issued upon registration.
Quick Turnaround: Receive Certificate of Registration and Status Report within 3-7 business days.
Continuous Support: We assist with future compliance and statutory needs.