If you’re a small business owner in Nigeria, you may have started with a business name registration because it’s affordable. But as your business grows and you need more credibility and access to investors, it’s time to upgrade your business name to a Limited Liability Company (LLC) with the Corporate Affairs Commission (CAC).
In this guide you’ll learn the full process of upgrading your business name to an LLC, the requirements, and the advantages.
What It Means to Upgrade Your Business Name to an LLC
Upgrading means changing your business from a registered business name to a company (LLC). This new structure separates your personal assets from your business’s liabilities, and gives your business a more professional legal identity.
Why You Should Upgrade
- Access bigger contracts
- Attract investors
- Build trust with clients
- Expand business operations legally
- Limit personal liability
- Take advantage of beneficial tax laws
Requirements for Upgrading Your Business Name to an LLC
Here’s what you’ll need:
- Business name registration certificate
- Your business name’s CAC registration number
- Tax Identification Number (TIN)
- Valid IDs for directors (NIN, international passport, or voter’s card)
- Proposed company name (ending with “Limited” or “Ltd”)
- Registered office address
- Company share structure and director details
Step-by-Step Process of Upgrading
Step 1: Application for Consent
You apply for consent on the CAC portal to convert your business name into a company. If approved, you move to the next step.
Step 2: Register the Company
You will upload required documents:
- Original business name certificate
- IDs and signatures of directors and shareholders
- Proposed company’s Memorandum and Articles of Association (MEMART)
Step 3: Pay the Fees
The CAC registration fee, which depends on your share capital. Pay via the CAC portal.
Step 4: Approval and Issuance of Certificate
Once approved, CAC will issue:
- Certificate of Incorporation
- MEMART document
- CAC Status Report
What Happens After Conversion
- Your old business name becomes inactive
- You will begin using the company name
- Update bank accounts, tax records, invoices and business documents
Frequently Asked Questions (FAQs)
1. Can I keep the same name when upgrading to an LLC?
Yes — if the name is available on the CAC portal and meets company naming rules.
2. How long does the upgrade process take?
Typically 5-10 working days, depending on document accuracy and CAC workload.
3. Will my old CAC number remain the same?
No — your company will receive a new registration number from CAC.
4. Do I need a lawyer?
Not necessarily. Using a CAC-accredited agent like Brand Growth ensures a smooth upgrade.
Final Tip
Upgrading from a business name to an LLC marks a major growth milestone. It signals to banks, clients, investors and regulators that you’re serious about business. Done right, it opens doors, protects your assets, and enhances your brand credibility.
📞 Need help upgrading your business name to an LLC?
Contact Brand Growth today: 08111858651 | brangrowthboom@gmail.com