FAQ – Company Registration

Frequently Asked Questions

Most frequent questions and answers

Official cost and professional fees for setting up a Company (LLC) in Nigeria.

This will be dependent on the share capital of the proposed company to be registered.

What is the timeline for completing the company registration?

Company registration can be completed within one to two weeks of presenting the duly ready documents for filing provided there are no queries.

Minimum share capital for a company LLC

If you intend to apply for expatriate quota/business permit (work permit) and employ expatriates, then your share capital must be a minimum of 10,000,000.

Advice on opening the company which can get maximum benefits of the prevailing government schemes

One of the main things in setting up a company in Nigeria is to determine the share capital. This can realistically start from a share capital of 1 million to infinity.

The Nigerian registered company can apply for pioneer status where applicable and enjoy tax exemptions and other benefits however this will be dependent on fulfilling certain requirements.

If you intend to apply for expatriate quota/business permit (work permit) and employ expatriates, then your share capital must be a minimum of 10,000,000.

Minimum foreign shareholding of a LLC

The shareholding of the company can be 100% foreign owned.

What are the basic documents/Information that will be required for the company registration

The basic documents/Information that will be required for the company registration are as follows:

  1. Name of the proposed company
  2. share capital
  3. Name, address and details of share holders and percentage of share holdings
  4. Name, address and details of directors
  5. (If they are a company abroad,) board resolutions from the company, copy certificate of incorporation to register the company in Nigeria, apportion shareholdings and appoint directors.
  6. Photo ID of all directors and shareholders (if an individual)