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.