How to Register Your Fashion Business with CAC in Nigeria
Its very important in every business organization to know that Registering your fashion design business with the Corporate Affairs Commission (CAC) is key to making your brand official, protecting your business name, and unlocking opportunities like loans and partnerships around you. Here’s a simple guide to get your fashion venture legally set up.Why Register?
· Legitimacy: Coming out genuinely and Operating legal. sign contracts and open a business bank account.
· Credibility: Building trust with clients through their satisfaction and suppliers in Nigeria’s vibrant fashion scene.
· Brand Protection: protect and Secure your business name from hijackers.
· Growth:Build your business through grants, loans, and partnerships with registered businesses for growth.
Choose Your Registration Type
· Business Name: Best for solo designers or small partnerships (simpler, cheaper).
· Limited Liability Company (LLC): Ideal for bigger brands or those wanting legal protection (more complex, pricier).
Steps to get your Business Registered
1. Choose a Catchy Name
· Choose two unique names that defines your fashion style (e.g., “TemiDayoChic Styles” or “ClassicTailor”).
· Verify if the name has not been taking by another organization on the CAC portal: https://search.cac.gov.ng/home . Avoid names used already or contains restricted terms like government.
· Fashion Tip: select name that’s describes your business in the best and easiest form , like “AnkaraVibes” for traditional and officialdesigns.
2. Set Up a CAC Account
· Visit https://pre.cac.gov.ng/register/new and sign up with your National Identification Number (NIN), email, phone, and a valid ID (e.g., passport or driver’s license).
· Verify your account through link that will be sent to the email you registered on CAC.
3. Reserve Your Name
· Sign in using your email and submit your two selected names, and proceed to make a payment for name reservation.
· If approved, it means the business name is available and then will be reserved for 60 days to complete registration.
4. Get your Documents ready
· For Registration of business name:
· Full name, address, phone, and email of the owner(s).
· Valid ID and recent passport photos.
· Business objectives (e.g., “Designing bespoke Ankara dresses and accessories”).
· Physical business location i.e address (e.g., your studio).
· Signed CAC-BNo1 form (available online).
· Optional: Partnership agreement if working with others.
· For LLC (extra documents are needed):
· Memorandum and Articles or documents of Association.
· Formal Details of at least two directors/shareholders.
· Documents containing your capital details (minimum ₦10,000,000 for foreign-owned LLCs).
· Tip: declear your line of business (e.g., couture or uniforms) in the objectives to match CAC’s business classifications.
5. Input your details in the Registration Form Accordingly
· Sign in to https://pre.cac.gov.ng , complete the CAC-BNo1 form (Business Name) or LLC form, and upload your credentials with respect to the specifications.
6. Pay the required the Fees
· Business Name: ₦12,000 (including ₦10,500 filing fee + bank charges).
· LLC: ~₦70,000–₦100,000, depending on share capital.
· Pay virtually or via a physical bank. Check current fees on the CAC website, as they may change.
· Virtual payment platforms like Moniepoint may offer registration for ~₦19,000.
7. Submit Your application and get certified
· Make sure to Submit your application via the CAC portal.
· It takes3 to 5 days for Business Name or 12 to 14 days LLC to be approved.
· Once your submission is approved, you’ll receive an electronic Certificate of Registration through your registered email. For Business Names, you may need to submit original documents to a CAC office before the certification.
Post Registration Procedures
· Get a Tax ID: By default a Tax Identification Number (TIN) comes with your certificate. You mau need also need to register for VAT with the Federal Inland Revenue Service (FIRS) if needed.
· Get a Business Account: Use your certificate to set up a corporate bank account for professional transactions like loans and other benefits.
· Safeguard Your Brand: The next step is to Register your logo or designs with the Nigerian Trademarks Registry.
You can as well get an extra Licenses as this is essential If exporting or producing specific products, check for additional permits from bodies like NAFDAC or the Nigerian Export Promotion Council and other regulatory bodies depending on the niche of the fashion business.
