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How to Register a Company in Nigeria

Company Registration Procedures in Nigeria

Navigating the process of company registration in Nigeria can seem complex. Our step-by-step guide simplifies the journey, ensuring your business is established on a solid legal foundation.

1. Choose Your Business Structure

The first step is to determine the right legal structure for your company. The most common forms in Nigeria are:

  • Private Limited Company (Ltd): The most popular choice for local and foreign
    investors, offering limited liability.
  • Public Limited Company (PLC): Ideal for large projects and companies planning to
    raise capital from the public.
  • Incorporated Trustees: For non-profit organizations, associations, and charities.
  • Business Name: Suitable for sole proprietors or partnerships.

2. Name Reservation

Your official registration begins with securing a unique company name with the Corporate Affairs Commission (CAC). We conduct an online search for name availability and, once approved, your chosen name is reserved for a specified period (typically 60 days).

3. Document Preparation & Submission

To proceed with your application, we prepare all necessary documents, including:

  • Memorandum & Articles of Association
  • CAC registration forms
  • Details of directors and shareholders (a minimum of two for an Ltd)
  • Confirmation of your registered business address
  • Copies of participants’ identification

4. Obtain Your Tax Identification Number (TIN)

Once your company is registered, we assist you in obtaining a Tax Identification Number (TIN) from the Federal Inland Revenue Service (FIRS). This is a crucial step required for opening a corporate bank account and fulfilling your tax obligations.

5. Open a Corporate Bank Account

A corporate bank account is essential for business operations in Nigeria. We guide you through the process, which typically requires your Certificate of Incorporation, company founding documents, and TIN.

6. Secure Industry-Specific Licenses

Depending on your industry, additional licenses may be required. We help you secure approvals from key regulatory bodies, such as:

  • Nigerian Investment Promotion Commission (NIPC) for foreign investors.
  • Central Bank of Nigeria (CBN) for financial organizations.
  • NAFDAC for producers of food, beverages, and pharmaceuticals.

7. Post-Registration Compliance

After registration, your company is legally obligated to comply with ongoing corporate requirements. We provide support for:

  • Annual filings with the CAC
  • Tax payments and reporting
  • Maintaining records and minutes of board meetings
  • Adherence to labor laws and local regulations

The Bottom Line

Company registration in Nigeria involves several key stages, from name reservation to securing industry-specific licenses. With our expert guidance, you can streamline the process, avoid costly errors, and establish your business on a secure legal foundation.