Company registration in Nigeria

Nigeria
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Nigeria is an independent state located in West Africa. It is the twentieth largest economy in the world and the most populous state among African countries. Nigeria's neighbouring states are: Benin, Chad, Niger and Cameroon.

The official language of the country is English, that is an evident benefit for those, who are interested in setting up a company in Nigeria and opening a corporate account with a Nigerian bank.

For more information, you can contact YB Case experts and ask for individual advice on company registration procedure in Nigeria.

Legal forms & tax rates

In order to register a company in Nigeria, you need to consider the following comparison table of business entity types and related tax rates.

Legal form

Corporate tax rate

VAT

Minimum share capital

LLC

30%

5%

1 USD

Free Zone LLC

0%

is payable

500 thousand USD

LLP

0%

5%

1 USD

PLC

30%

5%

1 600 USD

Branch

30%

5%

-

RO

0%

-

-

Monthly fee is 57 USD.

Those, who decide to set up a company in Nigeria can take advantage from 14 zones with tax holidays, duty-free imports and 100% repatriation of profit and dividends.

If you have questions, you can request for advice on company registration process in Nigeria and account opening from YB Case specialists.

How to open a business in Nigeria

If you are intended to set up a Nigerian company and open an account with an African bank, then you will need to fulfill the following conditions:

  • At least 2 shareholders;
  • 2 directors of any nationality;
  • A company secretary;
  • A registered physical office.

The paperwork for registering a company in Nigeria takes about 2 months. Terms of incorporation are up to 3-4 months.

You have an opportunity to open an account for a company in Nigeria remotely. Our specialists recommend you considering the following reliable banks:

  • Standard Chartered;
  • AccessBank;
  • Stanbic IBTC;
  • Citibank Nigeria;
  • Guaranty Trust Bank;
  • FirstBank;
  • Zenith Bank;
  • Guaranty Trust Bank.

To learn more, you can ask for personal advice on a business organization process in Nigeria from YB Case specialists. Also, we can provide you with support services in registering a physical office in this jurisdiction and provide qualified advice on the account opening with a Nigerian bank.

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