How Foreigners Can Register a Company in Nigeria (Complete 2025 Guide)
Nigeria's free-market economy welcomes foreign investors with open arms, and no restrictions on 100% foreign ownership of companies. But before you can legally operate, your business must be properly registered. Here's exactly what that process looks like.
1. Register with the Corporate Affairs Commission (CAC)
The Companies and Allied Matters Act 2020 (CAMA) governs all company registrations in Nigeria, with the CAC as the regulatory body. The process involves three stages:
Name Search & Reservation. Confirm your proposed company name is available. The CAC issues a reservation certificate valid for 60 days. Always submit two name options.
Document Preparation & Submission: Prepare your Memorandum and Articles of Association, shareholder/director details, registered address, and business objects. Note: foreign-owned companies require a minimum issued share capital of ₦100,000,000 (higher in certain sectors).
CAC Approval: Upon vetting and payment of filing fees (stamp duty at 0.75% of share capital), the CAC issues a Certificate of Incorporation. Steps towards tax compliance is equally commenced with Tax ID.
2. Register with the Nigerian Investment Promotion Commission (NIPC)
Every foreign-owned company must register with the NIPC before commencing operations. The NIPC promotes and coordinates investment in Nigeria and can grant incentives like Pioneer Status to qualifying businesses. Registration requires submitting an application form, shareholder/director details, and the applicable fee.
3. Obtain a Business Permit & Expatriate Quota
Foreign companies intending to hire expatriates must:
Obtain a Business Permit from the Nigerian Ministry of Interior
Apply for an Expatriate Quota for each foreign role
Facilitate the issuance of a CERPAC (Combined Expatriate Residence Permit and Aliens Card) for each expatriate employee.
4. Secure a Certificate of Capital Importation (CCI)
Issued by a licensed local bank, the CCI serves as proof that capital, whether cash, equity, debt, or goods has been imported into Nigeria. It also guarantees your right to repatriate profits freely.
5. Sector-Specific Licences
Depending on your industry, you may need additional approvals from bodies such as the CBN, NAFDAC, NCC, NERC, NCAA, or NIMASA.
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This content is for general informational purposes only and does not constitute legal advice.
For further information or to better appreciate our other service offerings, contact us at services@cacpro.com.ng