🌍 Introduction: Thinking of Doing Business in Naija? Here’s What You Need to Know

Starting a business in Nigeria as a foreigner? Fantastic idea. But before you roll up your sleeves and start counting naira profits, let’s get the legal docs sorted. Nigeria welcomes foreign investors, but it’s not exactly a walk in the park without the right paperwork. So, this guide is your one-stop, stress-free roadmap to legal compliance and company registration as a foreigner in Nigeria.

📄 Key Requirements to Register a Company as a Foreigner in Nigeria (No Guesswork Here)

Starting in 2024, any foreigner looking to register a company in Nigeria must meet specific legal, financial, and documentation requirements. Here are the key boxes to tick:

✅ Legal Requirements

• A minimum of one foreign director/shareholder (can be 100% foreign-owned)
  
• Registered address in Nigeria
  
• Must appoint a Company Secretary (especially if the company will be public or large-scale)
  

✅ Financial Requirement: New Share Capital Threshold

• As of 2024, the minimum share capital for any foreign-owned company is now ₦100 million
  
• This doesn’t have to be paid upfront but must be stated in the Memorandum & Articles of Association (MEMART)
  

✅ Required Documents Checklist for Foreigners

🛠 How to Register a Foreign-Owned Company in Nigeria (Step-by-Step)

Here’s a simplified breakdown of the process:

Step 1: Name Reservation

• Check availability and reserve your company name on the CAC portal: pre.cac.gov.ng
  
• Cost: ₦500
  

Step 2: Draft and Prepare Incorporation Documents

• Prepare MEMART stating the new ₦100 million minimum share capital
  
• Prepare CAC1.1, passport IDs, address documents, etc.
  

Step 3: Pay Filing Fees Based on Share Capital

• The higher the share capital, the higher the filing fee. CAC calculates based on this scale:
  

Step 4: Submit Documents Online

• Upload your incorporation documents via the CAC portal
  
• Wait for CAC verification and approval
  

Step 5: Get Certificate of Incorporation

• Once approved, you’ll receive:
  
  • Certificate of Incorporation
    
  • CAC Status Report
    
  • Signed MEMART
    

📦 What Comes After Incorporation? (Post-Registration Checklist)

Once your company is born, you still have a few diapers to change:

• Apply for a Tax Identification Number (TIN) from FIRS
  
• Register with NIPC (Nigerian Investment Promotion Commission)
  
• Obtain a Business Permit from the Ministry of Interior
  
• Open a corporate bank account (usually requires TIN and CAC docs)
  
• Consider trademark registration to protect your brand
  
• File annual returns to remain compliant
  

💬 FAQs: Foreign Business Registration in Nigeria

Q1: Can a foreigner own 100% of a company in Nigeria?

Yes, Nigeria allows full foreign ownership in most sectors, except for a few restricted industries.

Q2: Do I need a Nigerian partner?

No, but having a local advisor or agent can be helpful for operations and compliance.

Q3: How long does it take to register a company?

Approximately 10–15 working days if documents are in order.

Q4: Is the ₦100 million share capital required upfront?

No. It must be declared in the MEMART, but not fully paid immediately.

Q5: Can I operate without a business permit?

No, foreign-owned businesses must obtain a Business Permit before operations.

🎯 Tailored Call-to-Action: Ready to Launch in Nigeria?

Don’t get stuck in legal quicksand. Let our team of Nigerian business registration experts help you:

• ✅ Prepare and file all required documents
  
• ✅ Secure your Business Permit and NIPC registration
  
• ✅ Fast-track your Certificate of Incorporation
  

🚀 Book a Free Consultation Now and let’s build your Nigerian dream company together!

📚 Suggested Internal Links:

• How to Register a Limited Liability Company in Nigeria
  
• Trademark Registration in Nigeria
  
• Business Permit & NIPC Registration for Foreign Investors
  
• Annual Returns Filing in Nigeria