Incorporation of Foreign/Non Nigerian National Company
At Nigeria Company Formation, we have qualified professional Accountants and Legal Practitioners that can handle your business in Nigeria.
Incorporating a Limited Liability Company
The procedure and requirements for incorporating a private and a public limited liability company are essentially the same .
These requirements include:
1. The company must have a minimum of 2 shareholders (who may be individuals or corporate entities).
2, With limited exceptions, Foreign Nationals may hold 100% equity in business enterprise and undertake any type of business in Nigeria except:
production of arms, ammunitions, etc
production of and dealing in narcotic drugs and psychotropic substances
production of military and para-military wears, including those of the Police, Customs, Immigration and Prison Services or
other items as the Federal Executive Council may from time to time determine on the negative list.
The company can be fully incorporated without visiting Nigeria, whereby an address at your country of residence is used as the official registered address.
3. The initial subscribers must have between them, subscribe for at least 25% of the authorised share capital of the company
4. The company must have a minimum of 2 directors (who may also be the shareholders of the company, and may each be foreign nationals)
5, The Company must have a registered office in Nigeria if using a Nigerian address as official registered address.
6 A private limited liability company must have a minimum authorised share capital of N10,000,000 (N10million), and A public limited liability company must havE a minimum authorised share capital of N500,000.00. (N50million)
7. Companies with foreign equity participation or as shareholders must acquire a BUSINESS PERMIT, (additional fees apply for the application) and MUST provide copy of the offshore company CERTIFICATE OF INCORPORATION. (please see Frequently Asked Questions on our website)
8. Data page of International Passport for all directors and shareholders.
Note: Foreign Nationals resident in Nigeria must provide Residence Permit before undertaking in part or whole any business enterprise in Nigeria
Application for Exemption of Foreign Companies
Foreign Engineering Consultants and Technical Experts or Companies may apply for exemption from the requirement of registration, in accordance with Section 56 of the Companies and Allied Matters Act (CAMA). if they are in Nigeria :
upon invitation by any tier of government for specific individual projects, or
on behalf of a donor country or international organisation for the execution of specific individual loan project, or
as foreign government-owned companies engaged solely in export promotion activities
Other foreign company that does not fall within the categories mentioned above must incorporate a company before commencing business transactions in Nigeria
The law requires every company or registered corporate entity in Nigeria to file returns annually in the prescribed form provided not later than 18 months after incorporation with the Corporate Affairs Commission (CAC), and annually afterwards and Filing of Annual Returns with Federal Inland Revenue Service (FIRS), for tax purposes, which facilitate accurate keeping of an up to date records of the registered company and to show that the company is not dormant, but operative, thereby complying with the required statutory requirements.
PROCESSING PERIOD: Allow 10 working days after receiving all necessary data and payment.
Contact Us . To make an application for
We can provide all the Post Incorporation Governances including Import and Export, Custom and Exercise requirements.
Annual Report by Exempted Foreign Company
Annual report by an exempted foreign Company shall disclose the following:
Place/country of registration
Date of registration and certificate number
Principal place of business in place/country of registration
Share capital of the company (if any)
Principal place of business in Nigeria
Date of exemption
Description of business in Nigeria
Expected date of completion of business in Nigeria
Name and address of each director, partner or other principal officers of the company since date of exemption and any changes therein.
APPLY NOW: To make an application for Filing of Annual Report by Exempted Foreign Company Contact Us
COMPANY BANK ACCOUNT- All major banks in Nigeria can provide services required. Interest and foreign exchange rates and requirements differ. Physical presence in required in order to provide the Biometrics.
Registration of business name, 10 working days
Incorporation of private company, 10 working days
Incorporation of public company, 20 - 30 working days
Incorporation of trustees (non-profits) 35-40 working days
Complete the online Application Request Form.