Frequently Asked Questions (FAQs)
We understand that entrepreneurs have many questions about business registration, tax compliance, and regulatory requirements. Here are answers to some of the most common questions we receive. We’re here to help! Whether you’re registering your business, protecting your brand, or setting up for long-term success, we’ve got the answers you need to make the process smooth and stress-free
What is the difference between CAC Business Name Registration and Company Registration?
A Business Name is registered under an individual or partnership and does not separate personal assets from business liabilities. It is ideal for small businesses.
A Company (LLC) is a separate legal entity, meaning the business can own assets, sue or be sued, and offers liability protection to its owners. It is best for businesses looking to scale.
What is the difference between JTB TIN and FIRS TIN?
JTB TIN (Joint Tax Board TIN) is mainly used for state tax payments, including personal income tax.
FIRS TIN (Federal Inland Revenue Service TIN) is required for company tax payments, VAT, and corporate tax obligations at the federal level.
📌 Businesses need an FIRS TIN to be tax-compliant.
What is SCUML, and why do I need it?
SCUML (Special Control Unit Against Money Laundering) is a mandatory certification from the EFCC for businesses handling high-value transactions.
📌 Who Needs SCUML?
Real Estate Firms
Law Firms
Car Dealerships
Hotels & Hospitality
Consulting Firms
It is also required to open a corporate bank account in Nigeria.
How long does it take to register a business with CAC?
With The Archipreneur Brand Ltd, business registrations are fast-tracked within 5-7 days. Regular CAC processing may take up to 2-4 weeks depending on documentation.
Can I register my business even if I'm not in Nigeria?
Yes! We assist Nigerians abroad and international entrepreneurs in registering businesses remotely in Nigeria, the US, and the UK.
Do I need a registered business to open a corporate bank account?
Yes. Banks require a CAC certificate, TIN, and sometimes a SCUML certificate before opening a corporate account.
What’s the difference between a Trademark and a Business Name Registration?
A Business Name Registration only secures your name within CAC records, but someone else can still use it for branding.
A Trademark Registration gives exclusive legal rights to your brand name, logo, or slogan, preventing others from using or copying it.
📌 If you want full brand protection, register a trademark.
Can I upgrade my Business Name to a Company (LLC) later?
Yes! If you started with a Business Name (Enterprise) and want to expand, we can help you convert it to a Limited Liability Company (LLC).
Do I need to file annual returns for my registered business?
Yes! Every business must file annual returns with CAC to remain active and avoid penalties or deregistration.
How do I get a Tax Clearance Certificate (TCC)?
We provide fast-tracked Abuja State TCCs for businesses and individuals. The process requires basic business and personal details, and we deliver your TCC within 24-48 working hours.
Contact Us
We are here to support you every step of the way in starting and growing your business. From registration to brand building, we make the process seamless. Reach out to us for all your business needs – we look forward to being a part of your success story!
Office
1234, Cooper Street, New York, USA.
(+234) 708 188 9416
info@thearchipreneurbrand.com