Corporate Name Reservation
The first step of the company registration process is name reservation, The prospected name must be sumitted through the website of Department of Business Development.
To supply the requested company name together with 2 alternative names. The registrar will then examine the application in order to ensure that:
- No similar company name have previously been reserved, and
- The names do not violate any ministerial rules.
If the applicant’s intended name is in conflict with either of the above, that name will be rejected and the registrar will consider the alternative names submitted. This process can normally be completed within 2 to 3 working days. If all three names submitted are rejected, the applicant will be required to re-submit the form with 3 new names.
The registrar has considerable discretion with regard to the matter of company names. Many times, the first name or even the first two names are rejected due to the violation of one of the two rules stated above. Once the name is approved, the corporate name reservation is valid for 30 days, with no extensions. However, after the name has expired, the promoter can still re-apply for Name Reservation again and again if the name is still available.