Nigeria

We assist global clients looking to do doing business in Nigeria with the A to Z of business setup without the need for the client to travel to Nigeria. Some of our services include:

Company / Branch registration

Tax registration and obtaining PIN

Regulatory licenses across all sectors

Personal and corporate bank account opening

Accounting and tax support services

Provision of nominee directors and shareholders

Recruitment and employee hiring

Virtual/Physical Office space solutions

Employment and residency visas

The most common corporate structures preferred by foreign investors setting up in Nigeria include i) the limited liability company (LLC/LTD) and ii) the branch office. See detailed comparison below:

Advantages and disadvantages of setting up business in Nigeria:

  • Enticing incentives. There is Export processing zones (EPZs) and free trade zones (FTZs) within Nigeria designated by the government as free areas where export trade activities can be carried on free of tax and foreign exchange restrictions among other tax exemptions;
  • Growing manufacturing Sector. Corporations looking to establish industrial facilities in Nigeria will benefit from low labor costs, a wealth of natural resources, and pro-business government regulations;
  • In Nigeria there is 100% ownership of the company;
  • No Residency Requirement for Directors and Shareholders;
  • Good geographical location. Nigeria has a strategic geographical location that gives access to both domestic and foreign markets.
  • It has membership in ECOWAS which provides opportunities for regional commerce and partnerships
  • Nigeria has abundant resources that can be used effectively. It provides individuals with fantastic investment opportunities.
  • Extensive consumer market. Nigeria has a large population that provides a large consumer market base.
  • There is labor.  Presence of labor which is affordable as a result of the large population.
  • Highly efficient in English.
  • Business set up costs in Nigeria are high. Nigerian inflation is rising, so the costs of living and doing business are rising and challenging to predict.
  • Mismanegement of the country. Due to mismanagement in the Nigerian government and underinvestment, there is poor infrastructure that interferes with the movement of goods and service.
  • Distrust of the general populace of the government. The investor may face challenges pertaining business policies for they may end up not working or getting cancelled.
  • Bureaucracy in the government. Nigerian government departments are bureaucratic, and processes inconvenient. Though NIPC is in place to streamline the process for multinational client, the commission itself is difficult to deal with.
  • Lack of specific skills for intricate processes
  • There can be civil unrest and violence in the country which can hamper the projects progress in the country
  • Sector Specific Restrictions: Restrictions in some lucrative sectors including aviation, oil and gas, shipping, real estate and telecommunications.
  • Limited Access to Double Taxation Treaties: Nigeria has few double taxation agreements with other countries, meaning companies may not benefit from reduced tax rates on cross-border income.

Important links:

Company incorporation steps in Nigeria:

  1. Name Reservation: Girimba Consulting reserves a unique company name through the Corporate Affairs Commission (CAC);
  2. Documents Preparation: Our Team prepares the incorporation documents and emails our client for signatures, notarization and apostillation;
  3. Certificate of Incorporation: Our Team submits an application for company registration and obtain a certificate of incorporation with the Nigerian Investment Promotion Commission (NIPC).;
  4. Personal Identification Number (PIN): If the director is a foreign national, our team shall facilitate and assist with application for a PIN with the Immigration Office;
  5. Company Tax Identification Number: Our Tax Agent also submits an application to the Federal Inland Revenue Service (FIRS) for TIN and Value Added Tax (VAT) Certificate;
  6. Other Registrations: Our dedicated team shall assist the Client obtain Statutory registrations like Social Security Scheme and sector specific business licenses and permits.
  7. Bank Account Opening: Girimba Consulting also assists our client to open a local corporate bank account with a top tier bank in Nigeria.

    Seek specific business information:

    Let us know more about your business needs by completing the form below. Our team will get back to you within twenty four hours.

    All information provided to Girimba via this form remains confidential, Girimba shall not sell, share or transfer any details to any authority or third parties except as may be required by law. If you however prefer not to fill up the form, you are welcomed to contact us by email or phone directly.

    Select Territory of Interest*:

    Enter Your Details*:

    Select required service*:

    requestquote

    Girimba Consulting conducts business with openness, transperancy and honesty.We respect and uphold our Clients’ confidentiality, we offer quality service at affordable rates. Contact us for professional solutions.

    girimba-discount

    Clarence S. Carlos

    Regional Cordinator

    Clarence is our regional cordinator and head of business setup secretariat.