Registering a foreign IT company in Nigeria1 min read

Dear Zainab,

Good morning.

Please, may I know the cost of registering an IT foreign company in Nigeria?

Mr Adedeolu

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