Dear Zainab,
Good morning.
Please, may I know the cost of registering an IT foreign company in Nigeria?
Regards
Mr Adedeolu
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Hello Mr. Adedeolu,
Thank you for sending your question in after reading the last edition of Ask Zainab
From your email, I believe what you mean by IT foreign company is a Nigerian IT company owned by a non-Nigerian IT company or non-Nigerian shareholders who want to set up a Nigerian company offering IT services.
The answer remains the same irrespective of which interpretation fits your question
In Nigeria, any company that has non-Nigerian shareholders must have a share capital of N10,000,000. (Although you did not ask, as an IT company, at least one of your directors must also have a certification or qualification in information technology or a related field like computer science or engineering)
This is because all companies incorporating their business, with non-Nigerian shareholders must be registered with the Nigerian Investment Promotion Commission (NIPC) and to register with the NIPC, the company must have a minimum share capital of N10,000,000.
The NIPC is the agency set up to promote and protect the interests of investors in Nigeria, particularly Non-Nigerian investors.
The cost of registering a company with a share capital of N10,000,000 on DIYlaw is N208,500, (taxes and courier to be added). Currently, DIYlaw does not offer NIPC registration services
Have a pleasant evening
Regards.
Zainab.