Sole Proprietorship Business Name Registration

Sole Proprietorship Business Name Registration

₦25,000.00

Register Your Nigerian Sole Proprietorship Business Name

Embark on your entrepreneurial journey through our Sole Proprietorship Business Name Registration service. Also known as a 'one-man business', designed for individuals driven by the passion to meet market demands while seeking profitability.

Sole Proprietorship stands out as one of the most favored business structures in Nigeria. It's the go-to choice for artisans such as Tailors, Carpenters, Technicians, Barbers, and Grocers, who opt for a small-scale setup due to its straightforward establishment process and hassle-free registration.

Upon completing your order, you’ll be redirected to submit your information to process your registration.

  • Compare Our Packages

    Compare our Business Name Registration Packages:

    Standard Package
    Pro Package

    Sole Proprietorship Business Name Registration (Standard Package)

    Our Standard package is a cost-effective solution to get your business running with all the essential formation documents.

    Includes:

    • Nigerian Sole Proprietorship Business Name Registration with the CAC
    • CAC Filing Fees Included: All registration costs are covered, with no extra charges.
    • Digital Delivery of Incorporation Documents: Certificate of Registration and Status Report.
    • Tax Identification Number (TIN): Issued upon incorporation.
    • Delivery Time: 3 to 7 business days.
    • Support: 24/7 access to online customer support.

    Sole Proprietorship Business Name Registration (Pro Package)

    The Pro package offers comprehensive services, providing advanced registration features and ongoing support.

    Includes Everything in the Standard Plan, Plus:

    • 1-Year Company Secretarial Support: Ongoing assistance with statutory requirements and filings.
    • Business Seal: A physical seal for authenticating official documents.
    • Printed Documents: Hard copies of all registration documents.
    • VAT Registration: Our experts will register your company for VAT if required.
    • Bank Account Setup Assistance: Support with opening Nigerian business bank accounts.
    • Priority Customer Support: Faster response times and personalized assistance.

    Select Your Package

    Choose from our two company incorporation packages:

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Register your Sole Proprietorship Business Name in Nigeria

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

  • Company Registration: Nigerian Private Company Limited by Shares Registration with the CAC.

  • Documentation Preparation: Our experts handle all necessary registration documents.

  • Business Name Search and Reservation: We check availability and secure your desired company name.

  • CAC Filing Fee Included: No hidden costs, everything is included in the package price.

  • First Board Meeting Minutes Provided: We will prepare the legally required meeting minutes for your first board meeting.

  • Submission and Processing: We ensure all requirements are met and manage the submission process for efficient approval by the CAC.

  • Tax Identification Number (TIN) Assistance: Issued upon incorporation.

  • Essential Documents Delivery: Receive your Certificate of Incorporation, Approved Memorandum & Articles of Association (MEMART), and Status Report.

  • Company Secretarial Support: Ongoing assistance with statutory requirements and filings.

Let's Get Started

Our Process

Experience a hassle-free registration process with SPlashDict:

Choose a Package

Select a package, add to cart, and complete secure online payment.

Provide Information

Fill out our simple online form with your business details.

We Process Your Application

We'll prepare and file the necessary documents with the CAC.

Receive Documents

Get your completed business entity package.

Features of Sole Proprietorship Business

How Does a Sole Proprietorship Work?

  • Single Ownership: One individual owns and controls the business.

  • Unlimited Liability: The owner is personally liable for the business's debts and obligations. 

  • Limited Protection: The business name does not offer limited liability protection for the owner's personal assets.

  • Name Flexibility: The business name can be either the owner's name, a trade name, or a fictional name, offering flexibility in choosing a suitable name for the business.

  • Tax Benefits: Business income is taxed as personal income.

  • Conversion: Can be converted to a Private Limited Company (LTD) or other types of business entities. 

Full Business Name Registration Services

Requirements for Sole Proprietorship Business Name Registration in Nigeria

Here are the requirements for registering a Sole Proprietorship Business Name with the CAC:

  • Proposed Business Names: At least two (2) options (1st choice and alternative).

  • Business Objectives: Description of the nature and objectives of the business.

  • Owner Information: Provide personal details of the sole proprietor, including name, address, and identification. 

  • Business Address: Proposed business address (can be a home address or a separate business location).

Sole Proprietorship Business Name Registration Package

Find the best package to start your Business:

Sole Proprietorship Registration (Standard)

₦25,000

  • Nigerian Sole Proprietorship Business Name Registration with the CAC

  • CAC Filing Fees Included: All registration costs are covered, with no extra charges.

  • Digital Delivery of Incorporation Documents: Certificate of Registration and Status Report.

  • Tax Identification Number (TIN): Issued upon incorporation.

  • Delivery Time: 3 to 7 business days.

  • Support: 24/7 access to online customer support.

Select Package

Sole Proprietorship Registration (Pro)

₦50,000

Includes Everything in the Standard Plan, Plus:

  • 1-Year Company Secretarial Support: Ongoing assistance with statutory requirements and filings.
  • Business Seal: A physical seal for authenticating official documents.
  • Printed Documents: Hard copies of all registration documents.
  • VAT Registration: Our experts will register your company for VAT if required.
  • Bank Account Setup Assistance: Support with opening Nigerian business bank accounts.
  • Priority Customer Support: Faster response times and personalized assistance.
Select Package

Benefits of Sole Proprietorship Business

Sole proprietorship offers several advantages for entrepreneurs:

  • Legal Recognition: Provides official recognition of your business.

  • Exclusive Business Name Use: Protects the business name from being used by others.

  • Professional Image: Enhances your business's credibility and professionalism. 

  • Access to Certain Services: Some services may require a registered business name, such as opening a business bank account or obtaining certain licenses.

  • Access to Contracts and Loans: Many contracts, including supplier agreements and loan applications, require a registered business name.

  • Eligibility for Government Incentives: Registered businesses are often eligible for government grants, incentives, and programs aimed at supporting small businesses and entrepreneurs.

  • Business Continuity: Helps maintain business identity even if you change your personal name. 

  • Minimal Regulatory Compliance: Sole proprietorships face fewer compliance requirements, such as annual general meetings, compared to other business structures.

  • Ease of dissolution: With no co-owners or partners, the sole proprietor can sell the business or close the doors at any time, making this form of business organization an ideal way to test a new business idea.

Register Your Business Name

Why Choose SplashDict for CAC Business Name Registration?

We streamline your Business Name setup process with efficient service.

Expert Team

Our team of Chartered Secretaries ensures seamless business setup.

CAC-Accredited Agents

Our team of CAC-accredited agents ensures seamless and compliant registration.

Transparent Pricing

Clear and upfront pricing with no hidden fees.

Fast & Efficient

Experience fast and easy registration with our streamlined online platform.

Secure & Reliable

Robust security measures protecting your data and documents.

Dedicated Support

Receive continuous support from our team throughout and beyond the registration process.

FAQs

Frequently asked questions about Sole Proprietorship Business Name Registration in Nigeria:

A Sole Proprietorship is a business structure owned and operated by a single individual, where there is no legal distinction between the business and its owner.

A sole proprietor has complete control over the revenue and operations of their business. However, the sole proprietor is also personally responsible for all debts, lawsuits, and taxes their company accrues.

So, if their business is sued, personal assets like their home, credit score, and savings are unprotected.

Registering your business name helps to establish your business identity, prevents others from using the same name, and is required for tax purposes and opening a business bank account.

Registering your business offers simplicity in formation, decision control, and easy tax reporting. A unique name distinguishes your business and is necessary to open a bank account and obtain tax clearance in Nigeria. Proper registration enhances credibility and facilitates business transactions.

You can register your business name with the appropriate government authority, such as Nigeria's Corporate Affairs Commission (CAC). The process typically involves submitting the required documents and paying the registration fee.

SplashDict is equipped with accredited experts and the necessary resources to assist you in completing the Sole Proprietorship Business Name Registration in Nigeria.

Apart from resonating with your brand, your business name must comply with the CAC’s naming guidelines, which are in place to make sure business names are special, fitting, and don’t infringe on someone else’s trademark. Here are some of CAC’s naming guidelines:

  • Your business name has to stand out and be different from other business names or trademarks.
  • Your business name should be related to what your business does; It shouldn’t mislead or confuse folks. For example, your business name should not imply you own a makeup studio if you are running a fashion store.
  • Your business name must not be offensive, rude, discriminatory, or go against what’s considered good behavior in society.
  • Your business name must follow all the laws and regulations in Nigeria. Don’t pick a name that suggests anything illegal or unethical. Also, don’t choose names that could trick or fool the public.
  • Certain words are off-limits unless you get special permission. For example, words like “Federal,” “National,” and “Government” are reserved and need clearance from the right authorities before you can use them in your business name.

The registration process timeline varies depending on CAC and the efficiency of processing. This is the timeline:

  • Name Search and reservation: 6 - 24 hours from submission.
  • Grant of Certificate of Registration: 24 -96 Hours from filing.
  • Total time: Approximately 2 - 7 days.

Yes, you can convert your Sole Proprietorship into a different business structure, such as a Limited Liability Company (LTD), if needed.

The process involves registering the new structure and complying with relevant regulations. Transitioning from a Sole Proprietorship to a Limited Liability Company (LTD) is a significant step that offers various advantages, including limited liability protection and potential tax benefits.

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