Table of Contents
Can foreigners register a company in Nigeria?
Registration of a company in Nigeria is the only means a foreign entity can acquire a separate legal entity in Nigeria and legitimately carry on business.
Can a foreigner be a director in a Nigerian company?
The answer to this question is Yes. The Nigerian governing law for company registration or business formation is the Companies and Allied Matters Act (CAMA) LFN 2004. The law also does not preclude a foreigner from being a director in a Nigerian company.
How can a foreigner start a business in Nigeria?
How To Start A Foreign-Owned Business In Nigeria
- Step One: Register your Company.
- Step Two: Register with FIRS and State IRS.
- Step Three: Open Domiciliary Bank Account and Obtain Certificate of Capital Importation.
- Step Four: Register with the Nigerian Investment Promotion Commission(NIPC)
How much does it cost to register a foreign company in Nigeria?
CAC Registration Fees
| S/N | SUBJECT | FEES (N) |
|---|---|---|
| 8 | Registration of Company not having a share capital | N20,000 |
| 9 | Filing of notice of exemption of foreign Companies from Registration | N30,000 |
| 10 | Re-instatement/Relisting of company name | N25,000 |
| 11 | Registration of charges for private company | N10,000 for every N1million or part thereof |
Can a foreigner own a company?
Generally, there are no restrictions on foreign ownership of a company formed in the United States. The procedure for a foreign citizen to form a company in the US is the same as for a US resident. It is not necessary to be a US citizen or to have a green card to own a corporation or LLC.
How do you form a foreign company?
Following documents are required for such foreign company registration in India:
- Address proof of the office (In case of a rented property, the latest electricity bill)
- For Indian citizen. PAN card mandatory. Address proof. Photograph ID proof like Aadhar card.
- For foreign national.
How do I register a subsidiary of a foreign company in Nigeria?
Setting up a Business in Nigeria
- Incorporation of a Limited Liability company with a share capital of N10m (Ten Million Naira) at the Nigerian Corporate Affairs Commission (CAC).
- Obtain a Tax Identification Number and register for Value Added Tax at the Federal Inland Revenue Service – TIN and VAT Registration.
How long does CAC registration take?
Payment of the applicable fees The entire process for registering a business name normally takes 1-2 weeks, depending on the workload of the CAC and other factors. You do not need a lawyer to register a business name.
What do I need to open a company?
What Are the Legal Requirements for Starting a Business?
- Create a LLC or Corporation.
- Register Your Business Name.
- Apply for a Federal Tax ID Number.
- Determine If You Need a State Tax ID Number.
- Obtain Business Permits and Licenses.
- Protect Your Business with Insurance.
- Open a Business Bank Account.
- Consult the Professionals.
How do I get foreign funding?
There are three types of investors of foreign funding for businesses in India:
- Individual. Financial institutions. Pension and Provident Fund. Foreign Venture Capital Investors.
- Company. Sovereign Wealth Funds. Foreign Trust.
- Foreign Institutional Investors. Partnership and Proprietorship Firm. Private Equity Funds.
Can Foreigners Register a company in Nigeria?
The requirements for company registration in Nigeria for foreigners are slightly different from similar requirements for the citizens.
Can an expatriate obtain a residence permit in Nigeria?
This, therefore, confirms that an expatriate can obtain a residence permit valid for two years. The CERPAC CARD is a document, which allows a foreigner to reside in Nigeria and carry out business as specified in the permit, or to accompany a resident or citizen of Nigeria as a dependent.
How to incorporate a new business in Nigeria?
Business Office & Property Acquisition: New businesses are required to acquire business address or properties to successfully carry on their business activities in Nigeria. Proposed registered office address is one of the requirements for company incorporation in Nigeria.
How can a consultant help with change of address in Nigeria?
A consultant may assist a new company with registration address in Nigeria, and the company may file for a change of address with the Corporate Affairs Commission after acquiring a new address. However, over time, there have been high numbers of virtual, shared and mini offices setup springing up in commercial cities in Nigeria.