How to open a company in Nigeria?

To open a company in Nigeria, the procedure must be followed is not at all simple. The good thing, however, is that anyone can become an entrepreneur and open a business. However, it is important to always be supported by a lawyer during all phases of the opening and management of a company. It is good to know that there are many possibilities and that these range in many sectors. Before undertaking economic negotiations with Nigerian companies, it is necessary to contact the Commercial Office of this Embassy and follow a specific procedure. So let's see how to proceed with company formation in Nigeria.

What activities to do

There are many job opportunities in Nigeria, and these are mainly linked to the construction of hydrocarbons, petrochemicals, electricity distribution and the export of agricultural machinery.

You just need to verify that they are available by referring to the "Corporate Affairs Commission (CAC)", which regulates the formation and management of these activities in Nigeria.

In order to start a business, it is advisable to move to the place. If you decide to open a company under Nigerian law, in the first few years, they will give you the opportunity to deduce how much you have used to implement projects aimed at strengthening the country.

What documents to prepare

Once availability has been verified, a series of documents must be prepared, including the deed of incorporation and bylaws, which must be submitted to the Federal Inland Revenue Service.

Now the lawyer will have to deliver the declaration of conformity to the "Federal Court" to certify that all the necessary documents have been filed.

Fake companies are frequent, and for this reason, the reliability of commercial and local partners is required: in this way, you have the possibility of obtaining an entry visa, in which it will be necessary to specify that you need it for a business visit, therefore through a letter of invitation from the Italian company.

How to register

Now let's go to the registration at the "CAC":

You will have to send the availability forms and the reservation name you got from the "CAC".

You will have to make two pairs of stamps and then have them endorsed by the "Commissioner for stamp duties"; in addition, the declaration of the share capital and the notice of the registered office will be required.

Now you have to proceed with the registration with the "Ministry of Finance", to which you must send a copy of the "Constitutive and Statute" Deed, the contact details of the various administrators and a copy of the certificate of incorporation, address of the business tax consultant, a letter of acceptance and a letter for the appointment of the tax advisor.

When you have finished registering with the Tax Office, you must pay the first to the relevant state authorities. In this way, you can kickstart your company.

Do you have more doubts about company formation in Nigeria? Contact professionals to get Free Legal Advice from Expert Lawyers Nigeria.

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