Services

Company Registration in Nigeria

Capital: Abuja.
Official languages: English.
Currency: naira.

 

Popular forms for legal entities in Nigeria are: Private Limited Company (Plc) and Unlimited Company (Ultd).

Tariffs
Карта Company Registration in Nigeria
7.5% VAT
30% Profit Tax
10% Dividends
10,000 NGN Capital
20% On the first NGN 5 million

Company registration provides the following benefits:

 

  • Access to a large and growing domestic market (over 200 million consumers).
  • Significant natural resources and raw materials potential of the country.
  • Entering the African market.

Nigeria  is one of the largest countries in West Africa by area and ranks first on the continent in terms of population. It is divided into 36 states and one Federal Capital Territory, which in turn are divided into 774 local government areas.

 

Nigeria has rich resource potential and a dynamically developing market economy; now this country provides entrepreneurs with an excellent opportunity to develop their business.

Taxation and Reporting Features

Corporate Income Tax:

  • Standard rate: 30%
  • Incentives for agriculture and export-oriented industries
  • Exemption for small companies with annual turnover below NGN 25 million

VAT:

  • Standard rate: 7.5%
  • Exemptions for basic food items, medical and pharmaceutical products
  • 0% on exported services and goods

Dividends:

  • 10% withholding tax for residents
  • 10% withholding tax for non-residents

Company registration in Nigeria is conducted through the Corporate Affairs Commission (CAC). The proposed company name must be reserved and approved through the CAC portal.

To register a company, a completed application form must be submitted, detailing essential information about the company. This is accompanied by documents such as the Memorandum and Articles of Association, valid ID copies, and Tax Identification Numbers (TIN) for directors and shareholders.


After incorporation, the registration details will be published in the Nigerian Official Gazette. To finalize the process, the company must be registered with the Federal Inland Revenue Service (FIRS) and obtain necessary tax identification numbers.

At the time of registration, the company must have:

  • A Tax Identification Number obtained from the Federal Inland Revenue Service — essential for tax purposes and bank account opening.
  • Memorandum and Articles of Association certified by the CAC.
  • A bank reference letter confirming the availability of funds for the company's share capital. It should specify the company's name, its shareholders, and their capital contributions.
  • Evidence of payment of stamp duties as required by law.

Company Registration in Nigeria

  • Limited liability
  • Minimum 1 director / 1 shareholder
  • Efficient business setup
Public Limited
€2 760
Annual expenses: ~€3,500

Company Registration in Nigeria

Corporate Tax 30% For large companies
VAT 7.5% Applicable on goods and services
Dividends 10% Withholding tax on dividends
Capital Gains 10% On sale of chargeable assets
Withholding Tax 5%-10% Depending on transaction type
Property Tax Varies Based on state regulations

Additional information

Reporting
Confidentiality
  • Financial reporting: Mandatory annually according to Nigerian standards
  • Audit: Mandatory for all companies registered in Nigeria
  • Annual Return: Due within 42 days after the anniversary of incorporation
  • Tax return: Company Income Tax Return to the FIRS
  • Employer's Return: Required if there are employees
  • Registers: Shareholders and directors (required)
  • Directors' details Accessible to the public in the registry
  • Shareholders' details Accessible to the public
  • Financial reporting Confidential (not publicly disclosed)

Timeline and Stages

  • 01

    Preparation of documents and company name selection

    1-2 days
  • 02

    Conducting a name availability search with CAC

    1 day
  • 03

    Submission of incorporation documents

    1 day
  • 04

    Issuance of Certificate of Incorporation and Business Registration

    1-4 days
  • 05

    Setting up a corporate bank account

    2-4 weeks

The bottom line

Registering a company in Nigeria is a complex process that requires an understanding of local laws and procedures. We recommend that you seek advice from qualified IT-OFFSHORE consulting specialists who have experience working with this jurisdiction and will be able to register your company in Nigeria in the shortest possible time.

 

We offer not only legal support for company registration, but also a wide range of services, which includes accounting services, nominee services, and full support of the company after its registration; Thus, we provide full year-round service to your company.

Cost calculation

Add the required options for your company:

Итоговая стоимость ( база €2 760 + доп):
€2 760

FAQ

Can you register a company remotely?

Yes, in most cases — you can.

Remote company registration is available in the vast majority of popular jurisdictions today. Modern corporate services, electronic document management and professional registered agents make it possible to complete the entire registration process without being physically present in the country.

The process typically works as follows: you provide the required documents electronically, sign them remotely — via a notary, apostille or electronic signature — and a local registered agent handles all communication with government authorities and document submission on your behalf.

This has been made possible by several factors: most countries allow foreign founders and directors, corporate service providers operate remotely across the globe, and the digitisation of government registries has significantly streamlined and accelerated the procedures.

The one step that may still require in-person presence is opening a corporate bank account — however, even here many banks and fintech platforms now offer remote identity verification.

What documents are needed for registration?

Registering a company in most jurisdictions requires a standard set of documents. For individuals — founders and directors — the typical requirements include: a certified copy of a passport, proof of residential address (utility bill or bank statement no older than 3 months), and in some cases a bank reference letter or CV.

For corporate shareholders, the required documents include: certificate of incorporation, articles of association, register of directors and shareholders, and confirmation of the ownership structure.

Do I need to keep accounting records and submit reports?

Accounting and reporting requirements vary significantly depending on the jurisdiction. In most countries, companies are required to maintain proper bookkeeping, file annual financial statements and submit tax returns.

At the same time, there are a number of jurisdictions where reporting requirements are minimal or effectively non-existent for non-resident companies. These include, for example, the Marshall Islands, the Cook Islands, Panama, Belize, Seychelles and Vanuatu — in these countries, companies that do not conduct business within the territory of the registration state are generally exempt from mandatory financial reporting and audit requirements.

We provide full company administration services, including preparation and submission of annual reports, liaison with local authorities and ensuring full compliance with all corporate requirements of the jurisdiction.

Is it possible to open a bank account for a company?

Yes, opening a corporate bank account is possible for virtually any jurisdiction, however this process deserves careful attention. Today businesses have two main options: traditional banks and fintech platforms.

Traditional banks offer a full range of financial services, but account opening requirements have become increasingly stringent — KYC procedures, source of funds confirmation, business plans and in some cases in-person presence may be required. Fintech platforms — such as Wise, Airwallex, Revolut Business and others — open accounts significantly faster and remotely, making them a popular solution for international companies at an early stage.

Is it possible to use nominee directors?

Yes, the use of nominee directors and shareholders is a common and legitimate practice in international corporate structuring. A nominee director is formally listed in the company registry but acts exclusively in accordance with the instructions of the beneficial owner, providing an additional layer of privacy.

This service is particularly in demand in jurisdictions where information about directors and shareholders is entered into a public register — for example, in Cyprus, the United Kingdom, Malta and a number of other EU countries. In offshore jurisdictions, nominee services are also widely used to simplify corporate governance and protect ownership structures.

We provide nominee director and shareholder services for any jurisdiction we work with.

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