A: There are  two options for company registration in Nigeria. You can either register it as a Business Name or incorporate a Limited Liability Company with the Corporate Affairs Commission.

Also, religious organizations, charities, associations, and clubs can register as Incorporated Trustees. It's worth noting that the Commission has recently introduced two new forms of business registration: Limited Partnership (LP) and Limited Liability Partnership (LLP).

A: A Business Name is usually used for Sole Proprietorships (One Man Business) whilst a Limited Liability Company is owned by Shareholders and as the name implies their liability/ dividends are limited to the shares they own in the company. 

A2: A Business Name is a simple form of business structure where the business is registered under the name of the owner(s). It does not have a separate legal identity from its owner(s) whilst Limited Liability Company ( LLC) is a separate legal entity from its owner(s), providing distinct legal protection. It is formed by filing Articles of Organization with the appropriate state authority.

A: A major and remarkable feature of the new system is the introduction of E-certificate. The commission has introduced and adopted issuance of E-certificate as against the former manual system where customers have to walk into the Commission to pick up the certificate of registrations and incorporation of all entities. Upon completion of the registration of any entity on the portal, your registration is approved by the Commission seamlessly, the certificate is automatically generated to your dashboard where you can download at your convenience.

The commission has also introduced a document format called E-status report to replace the CAC forms issued upon new registration/incorporation of all entities. The E-status report will now replace the Form CAC 1.1 for company registration, BN 1 for Business name registration, IT form 1 for Incorporated Trustees