How to Register a Company in Nigeria with the Corporate Affairs Commission (CAC) as a Foreigner
If you are a foreign investor or an entrepreneur looking to establish a company in Nigeria, you must register your business with the Corporate Affairs Commission (CAC).
Nigeria is Africa’s largest economy and offers vast opportunities for businesses. However, to operate legally, you need to comply with Nigerian company registration laws.
Registering a Foreign-Owned Company in Nigeria: A Step-by-Step Guide
Registering a company with the Corporate Affairs Commission (CAC) is the first step towards doing business in Nigeria. In this blog post, we'll guide you through the process, requirements, and costs of registering a foreign-owned company in Nigeria.
And if you need expert assistance, Fucia Integrated Services, an accredited CAC agent, is here to help!
Requirements for Foreign-Owned Company Registration in Nigeria
If your company includes foreign shareholder(s) you must meet the following key requirements:
1. Minimum Share Capital:
- The minimum share capital requirement for foreign-owned companies is 100 million Shares (depending on the business sector).
2. Company Name Search & Reservation:
- You must choose a unique business name, which will be checked for availability and reserved with CAC.
3. Registered Address in Nigeria:
- Your company must have a physical office address in Nigeria.
4. At Least Two Directors:
- The company must have at least two directors (can be foreigners or Nigerians).
5. Shareholders:
- The company must have at least one shareholder. Foreigners can own 100% of the shares, except in restricted sectors.
6. Memorandum & Articles of Association (MEMART):
- This document outlines the objectives and regulations of your company.
7. Means of Identification:
- A valid international passport or national ID for foreign directors and shareholders.
8. Company secretary:
- A qualified individual to act as the company secretary, who can be a lawyer, chartered accountant, chartered secretary, or someone with relevant experience in the role.
9. Tax Identification Number (TIN):
- A TIN will be issued by the Federal Inland Revenue Service (FIRS) after registration.
Step-by-Step Process for Registering a Foreign-Owned Company in Nigeria
1. Name Reservation with CAC
- Submit two preferred company names for CAC approval.
- If approved, the name is reserved for 60 days.
2. Preparation of Incorporation Documents
- Draft and submit the Memorandum and Articles of Association (MEMART)
- Complete CAC’s online registration forms with director and shareholder details.
3. Payment for 100 million share capital
- Pay the CAC registration fee based on the share capital. For 100 million share capital, the official CAC fee is ₦ 2,000,000 (which is approximately $ 1,334 USD).
4. Payment of Registration Fees
- Pay the registration fees, which include the CAC filing fee, stamp duty, and other charges. This costs ₦ 50,000 (which is approximately $ 34 USD).
5. Filing with CAC
- Submit all required documents online.
- Upon approval, CAC issues the Certificate of Incorporation, TIN, and Status Report.
6. Post-Incorporation Compliance
- Register with the Federal Inland Revenue Service (FIRS) for tax compliance.
- Open a corporate bank account in Nigeria.
- Obtain business permits or expatriate quotas (if needed).
Cost of Registering a Foreign-Owned Company in Nigeria
The total cost varies based on professional service fees and the specific industry requirements. Generally, for a ₦100 million share capital company, the estimated cost are as follows:
- CAC Registration Fee, Stamp Duty, Filing Fee, Professional Service Charge, Other Charges: ₦ 50,000 (which is approximately $ 34 USD)
- CAC Fee For 100 Million Share Capital: ₦ 2,000,000 (which is approximately $ 1,334)
Total Cost: ₦ 2,050,000 (approximately $ 1,368)
For more information, contact Fucia Integrated Services.
Accredited Registration Agents
To ensure a smooth registration process, it's recommended to work with an accredited registration agent. Fucia Integrated Services is an accredited agent with the CAC, and we can guide you through the registration process.
Why Choose Fucia Integrated Services for Your CAC Registration?
At Fucia Integrated Services, we specialize in fast, hassle-free company registration for foreign and local investors. As an accredited CAC agent, we provide:
✅ Name reservation & business registration
✅ MEMART drafting & filing
✅ Tax & FIRS compliance assistance
✅ Legal and professional guidance
📞 Contact Us Today!
Let us handle your company registration while you focus on growing your business.
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Start your business in Nigeria with confidence—Fucia Integrated Services has got you covered!