How can I start a company in Nigeria?

How much does it cost to set up a company in Nigeria?

Fee for registering charges for a private company – 10,000 Naira for each 1 million Naira or part of a million. Fee for registering charges for a public company – 20,000 Naira for each 1 Million Naira or part of 1 million.

What are the requirements to start a company in Nigeria?

Legal Requirements for Starting a Business in Nigeria

  • Business Registration. …
  • Registration with the Federal Inland Revenue Service, (FIRS) …
  • Registration with the State and Local Government Tax Offices. …
  • Obtaining a Business Permit. …
  • Export/Import Permit.

2.07.2020

Can one person own a company in Nigeria?

By section 18(2) of CAMA 2020, a private company can be formed by just one person. In addition to this, a foreigner must also comply with the provisions of other enactments to form a company in Nigeria. Thus, to engage in business in Nigeria, the business must first be registered with the CAC.

How much does it cost to register a company in Nigeria 2020?

Fee for registering charges for a private company – 10,000 Naira for each 1 million Naira or part of a million. Fee for registering charges for a public company – 20,000 Naira for each 1 Million Naira or part of 1 million.

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How much does it cost to register a company in Nigeria 2021?

How Much Does it Cost to Register a Business Name in Nigeria? Registration of a private company with a share capital of more than N1m and up to N500m costs N5,000 for every 1m shares of the company. Private company registration above N500m authorized share capital costs N7,500 for every 1m shares of the company.

How do I start a private company in Nigeria?

Follow the steps below:

  1. DECIDE ON THE BUSINESS STRUCTURE. …
  2. TYPES OF REGISTRABLE ORGANIZATIONS IN NIGERIA. …
  3. ADVANTAGES OF COMPANY LIMITED BY SHARES OVER A BUSINESS NAME? …
  4. RESERVE A NAME. …
  5. REGISTER THE APPROVED NAME. …
  6. PREPARE AND FILE REGISTRATION AND INCORPORATION DEEDS. …
  7. COMPANY SHARE STRUCTURE. …
  8. APPOINT THE DIRECTORS.

16.01.2018

What are the types of business in Nigeria?

There are 5 different forms of business organizations in Nigeria namely;

  • Sole Proprietorship.
  • Partnerships.
  • Cooperative societies.
  • Joint Stock Companies, and;
  • Public enterprises (which has been explained above. Learn more about Public enterprises in this short post)

Can one person be a limited company?

In the UK, you only require one person to form a limited company. Whilst the application requests details of at least one member and one director, it is commonplace for the same individual to hold both of these positions. This means that you can set up a limited company on your own.

Can one person register a company?

The Companies Act, 2013 provides that an individual can form a company with one single member and one director. The director and member can be the same person.

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How much does it cost to register a Ltd company?

It costs £12 and can be paid by debit or credit card or Paypal account. Your company is usually registered within 24 hours. If you do not want to use ‘limited’ in your company name you must register by post.

How long does it take to register a business name in Nigeria?

The entire process for registering a business name normally takes 1-2 weeks, depending on the workload of the CAC and other factors. You do not need a lawyer to register a business name, however, if you want to register a company, you need the services of a lawyer or other accredited agent.

Hai Afrika!