BREAKING: How To Upgrade From BUSINESS NAME To COMPANY Incorporation

1
from business name to company registration

Before now, the Corporate Affairs Commission (CAC) did not upgrade Business Name to Company. People who wished to use their Business name to register a company had an option of dissolving their Business Name and using the name to incorporate a company. But then CAC did not guarantee that the same name would be approved for company incorporation.

 

 

CAC seems to have seen the difficulty experienced by Entrepreneurs in this respect and has reviewed the procedure.

 

Now, one can upgrade a Business Name to Company.

 

So if you wish to upgrade your Business Name to company, you need to do the following:

Also read:  [Register Now] Entrepreneurship meets Capital

 

  1. Write an application to CAC stating that you want to use your Business Name to incorporate a company and pay the prescribed fee. The letter will be printed on the letterhead of the Business Name and signed by the Proprietor(s). You need to attach to the letter, a copy of your application for registration of Business Name and Certificate of registration of Business Name.

 

 

  1. Where CAC grants consent to use the restricted name, you can then proceed to incorporate your company afresh following the procedure for incorporation of company and paying the prescribed fees.

 

 

This sounds like good news. Doesn’t it?

Also read:  Scaling Up Your Business Now Made Easy with Diamond Business Advantage (DBA)

 

 

If you have questions or need clarifications, you can do so in the comment section and we will be glad to help you.

 

 

 

written by Ifeoma

 

Enjoyed What You Read? Then Don't Miss the Next Post! STAY UP-TO-DATE

Join 29,972 SMEs & still counting, who are first to receive regular updates on latest News & Articles to Grow their Business.

We hate spam with passion! Your email address will not be shared with anyone else.


1 COMMENT

  1. This information is still scarce outside. Well done Ify. Great update. A little advice: Try harder to make your site visible.

LEAVE A REPLY

Please enter your comment!
Please enter your name here