Introduction

Starting a business in Nigeria begins with proper registration and compliance. Unfortunately, many entrepreneurs rush the process or skip essential steps—leading to operational and regulatory challenges later.

This guide explains how to register a business in Nigeria, common mistakes to avoid, and how professional advisory support can simplify the process.

1. Choose the Right Business Structure

Your business structure affects taxation, liability, and growth potential.

Common options include:

• Business Name (Enterprise)
• Private Limited Company (Ltd)
• Incorporated Trustees (NGOs)

Tip:
Most SMEs benefit from a Limited Liability Company due to credibility and scalability.

2. Register with the Corporate Affairs Commission (CAC)

The CAC registration process includes:

• Name availability search
• Submission of incorporation documents
• Issuance of Certificate of Incorporation

Common mistake:
Incorrect documentation leading to delays or rejection.

3. Register for Tax with FIRS & State Authorities

After CAC registration, businesses must:

• Obtain a Tax Identification Number (TIN)
• Register for Company Income Tax
• Register for VAT and PAYE (where applicable)

Failure to do this early often leads to penalties.

4. Open a Corporate Bank Account

A corporate account:

• Builds credibility
• Supports proper accounting
• Is required for regulatory compliance

Banks require complete CAC and tax documentation.

5. Set Up Proper Accounting & Compliance Systems

Many startups fail because they ignore:

• Bookkeeping
• Payroll compliance
• Tax reporting structures

Early financial structure prevents future crises.

Why Professional Advisory Matters

Registering a business is more than paperwork—it’s about setting a solid foundation.

At Claystone Consulting, we support startups and SMEs with:

• Business registration & structuring
• Tax setup and compliance
• Accounting system implementation
• Ongoing advisory support

Call to Action

Planning to register a business or restructure an existing one?
👉 Speak with Claystone Consulting for expert guidance.