Business Entity Registration
in Nigeria
SplashDict can assist you with Nigerian Business Entity Registration and formation quickly, efficiently, and seamlessly.
We work with a team of accredited professional consultants, with years of experience handling CAC matters.
Why register your business with
SplashDict?
SplashDict is dedicated and experienced in setting up businesses. Our clients come from all over the world from industries of different sizes and backgrounds. Let us help you register your business hitch-free.
We strive to complete each engagement efficiently and effectively, to suit each of our clients' needs.
From pre-incorporation to post-incorporation issues, our expertise cuts across different industries and we understand the unique challenges startups in Nigeria face.
All our prices are clear and transparent. Every detail about the pricing is mentioned clearly. Due to our efficient system, our rates are lower when compared to other companies providing the same services. There are no hidden fees throughout the process.
Our efficient online system ensures that all the procedure is fast and prompt. The entered information is checked on the same day. After that, our system sends your data automatically to the Nigerian Registry Forms and is submitted to the government.
Our team members are consistent, reliable, and honest. You can depend on us for your Business Entity set-up requirements in Nigeria
Our motive is to make all the efforts to make our clients satisfied in all aspects. We go out of our way to provide our clients with the best service. We take our client’s feedback into action.
Our approach toward Business Entity registration in Nigeria is creative and flexible. We assist you in case of any unexpected difficulties. We can deal with any kind of challenges along the way. Also, we easily adapt to changing situations.
We have been involved in the registration of hundreds of business entity registrations and almost as many related products and services.
Get started in minutes.
Tell us about your business.
Select and pay for your Business entity type, Enter your business info, and fill out our forms in as little as 5 minutes.
Let us do the work.
Get back to business as we work with the government to file your paperwork with 100% satisfaction guaranteed.
Get excited!
You’re official! We’ll provide you with your business documents while you change your title to CEO.
SERVICES
SplashDict can advise on the type of entity and the appropriate corporate structure.
We'll handle all the paper works; consent application, constitution, minutes of meetings, court declaration, newspaper publications, etc, and every other requirement so you don’t need to stress yourself.
Sole Proprietorship Business Name Registration
A sole proprietorship is a business that is owned and controlled by a single individual who may choose to operate under a registered business name. Use a name other than your own to do business, open a bank account, and build a brand.
One-Person Limited Company Incorporation
A One-Person Company (OPC) is a business structure that enjoys the benefits of both forms of a sole proprietorship and a private limited company. Thus, it eliminates the hassles of finding the right co-partner/s for starting a business as a registered entity.
Registration of Incorporated Trustees
Register your NGO, Foundation, Church, Mosque, Association, etc, in Nigeria. It is not a business and does not distribute profits. 100% of income must be applied solely towards its causes.
Private Limited Company Incorporation
Setting up a private limited company is one of the highly recommended ways to start a business in Nigeria.
This type of business entity limits owner liability to their shareholdings, the number of shareholders to 200, and restricts shareholders from publicly trading shares.
Company Limited By Guarantee Incorporation
Limited by guarantee companies are most often formed by non-profit organizations such as sports clubs, workers' co-operatives, and membership organizations, whose owners wish to have the benefit of limited financial liability.
Private Unlimited Company Incorporation
With this type of company, as long as the company is in operation, members and shareholders are protected from financial liability. Once the company closes and liquidates assets, if outstanding debts remain, creditors can recover them from former members and shareholders.
General Partnership Business Registration
A general partnership provides a relatively simple way for two or more people to own and manage a business together, each contributing capital, skills, and time – similar to the way in which a single person can operate a business as a sole trader.
Limited Partnership (LP) Registration
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Limited Liability Partnership (LLP) Registration
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Public Limited Company Incorporation
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Post Incorporation Solutions
SplashDict Team offers an extensive range of post-incorporation services relating to the structural changes of a Company. We'll prepare and file all appropriate documentation.
Business Conversion
Converting from a registered Business Name to a Private Limited Company (LTD) projects a more professional image.
What are the benefits of registering your Business Entity in Nigeria?
Regardless of the idea or motive an entrepreneur decides to build a business on, he/she needs legal backing for the business to survive and its life to be prolonged in the long run.
Why you should Register your Business Entity in Nigeria;
Nigeria is Recognized Globally
If you are looking to expand your assets outside of your country, investing in Nigeria is a great way.
Affordable & Convenient
Establishing a company in Nigeria is much easier than you may think. You can be from any nationality in the world to be a company shareholder and director, and don’t need to be a Nigerian citizen.
Monopoly to Your Business Name
One of the advantages of registering your business name is to give you a certain uniqueness, monopoly, and legal and exclusive rights to your business name.
Gives you Credibility with Your Customers
It is a great way to build your business’s reputation, being on the Government’s records confirms your legal existence, which may make your client more comfortable transacting with your business.
Gaining Access to Loans
Your business registration with the Corporate Affairs Commission would serve as a condition precedent for extending credit to your business.
Attract Investors to Your Business
As a business owner, you would like to expand your business reach, and your ability to attract investors and raise money for your business will revolve around how legal your business is.
Ensures Business Continuity
When your business has its own legal identity, it affords its perpetual succession and enables the continuity of such business.
Run a Customized Bank Account
A business with a CAC Registration can run a customized bank account portal with any bank of your choice. It is more professional to give your clients a corporate bank name for payment instead of your personal name.
Can Hire Employees Legally
When your business is registered, affords you the ability to employ staff legally. You gain access to hiring and recruiting quality and skilled employees easily from job recruitment agencies and other online platforms. You can even request for NYSC members to work at your company when registered.
Tax Benefits
Most benefits and expenses are taxable, but in a registered company in Nigeria, you could legally offset certain costs that would have been taxable as benefits in kind under personal income tax.
Limited Liability Protection
A business that is incorporated is deemed a separate entity. You are protected, and you are not personally held for certain liabilities.
Gain Benefits Deemed Fit for SMEs
When you register your business name, your business gets the opportunity for expansion. These come through the various business incentives made only available to registered Micro, Small, and Medium Enterprises (MSMEs) by the Federal Government.
Ongoing support
Once a Busines Entity is set up, we provide a range of services to keep it in good standing—from post-incorporation technical support to ongoing renewal and maintenance services—allowing clients to focus on their core business.
Whether you're incorporating a new company or managing compliance with ever-changing local legislation, you're likely to find yourself in need of administrative support. Which is where we step in.
We can help you by managing board meetings and circulating briefing documents; preparing and managing data rooms for due diligence purposes; ensuring all statutory returns and fees are submitted; drafting corporate documents and agreements; arranging for staff to go on secondment to client teams for short-term secretarial projects; and corresponding with local authorities.
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We offer dedicated company administration services, which include:
- Provision of registered office address for the company
- Provision of resident local director
- Drafting of shareholder agreements
- Maintenance of statutory records
- Preparation and filing of annual returns
- Advice and implementation of changes to company structure, as required
- Company dissolution and windup
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Behind every successful company sits a strong board of directors and a team of administrators, who are knowledgeable and experienced in the regulation of the region in which the company operates.
Our directors are highly qualified, experienced and, above all, trusted professionals in the eyes of our clients and client advisers.
We provide director services from Nigeria, which include:
- Attendance at regular board meetings in person or by video conference call as required.
- Proactive and responsive dialogue with the client, and other advisers and directors on a regular basis and tailored to your preferences.
- Oversight of company administration in accordance with local legal requirements and the constitution of the company, including where constitutions are bespoke to specific client requirements, and other company secretarial requirements.
- Timely assistance with and review of document execution to allow for the efficient operation of the company.
- Access to our director's network of established and international legal, tax and accountancy professionals.
- From Nigeria, we can provide nominee director services held by a resident local director where required, as well as substantive directorship for companies where an Independent Non-Executive Director (INED) appointment is needed to fulfill the board quorum requirement
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When you have worked hard to build a valuable business, you’ll want to do what you can to safeguard what is yours.
We offer a range of services for intellectual property (IP) Protection in Nigeria. Our services provide you with a fast, efficient, and cost-effective route for protecting your inventions, trademarks, or works.
Trademarks are elements of branding; patents protect inventions; copyright protects original expression. Copyright secures Creative or intellectual creations. Trademarks secure the branding under which products and services are sold. Patent secures inventions that are useful for the world and has some use.
Our dedicated IP team will take over the administrative burden to ensure your rights are registered, managed, and protected.
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Every company requires policies and procedures, usually in the form of policy manuals. They are clearly laid out to employees so that they completely understand them, and that their performance meets regulatory standards.
Your company’s policy manual is the go-to documentation that outlines how your business functions. Part of this includes the codes of conduct expected of its employees across operational divisions.
Our team of technical writers includes people who have exclusively dedicated themselves to putting together informative, concise, and easy-to-read policy manuals. They draft documents that will allow your employees to carry out their jobs per your organization’s requirements. Having to constantly train and remind employees what is expected of them is costly and a waste of time.
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We help entrepreneurs and foreign firms navigate immigration regulations in Nigeria when they want to explore immigration for themselves, their families, or their staff.
Who can benefit from our immigration advice?
- Entrepreneurs who want to set up their business in Nigeria.
- Human resources (HR) staff seeking to outsource work passes applications for their business.
- Individuals who want to apply for Nigerian permanent residence.
- Individuals who want to apply for dependent passes for their spouse, parent, or children.
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We can provide you with consultancy services to assist you with obtaining the necessary licenses and permits for your business.
We have staff who are familiar and experienced with the nuances of various industries in Nigeria and have assisted numerous companies in applying for their required business licenses.
Our business license services consist of:
- Research and information on applicable licenses
- Assistance with filing of an application for relevant license(s)
- Responding to requests for additional information from the government
- We can assist with obtaining business permits and licenses in some industries in particularly education, financial advisory services, recruitment, and the travel industry, to name just a few.
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Every business that aims to improve its current position within the increasing competition should take advantage of the best suitable digital marketing services and solutions including:
- Startups & small businesses that want to increase awareness and visibility
- Local businesses that aim to increase store or branches traffic from targeted local customers
- Midsize businesses that seek expansion and increase their customers base
- Enterprises and brands that desire to improve their branding process and develop long-term relationships with customers
- Any type of business which plan to invade new markets locally and internationally
- Entrepreneurs who want to increase the scope of their projects and drive the expected return on their investments.
Whether your business is a B2C or B2B, there’re many customized cost-effective digital marketing services our experienced digital marketing agency can develop that will make a real difference in the journey to achieve your business goals consistently.
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SplashDict provides efficient Business IT Support services to our customers. We can make you more money, save you more time, research the right technology for you, fix any technical problems, assist with cloud migrations, implement data management solutions and more.
We have extensive experience working with SMEs and large enterprises spanning a variety of industries. Whether you are looking for fully managed services, cloud-hosted or hybrid solutions, or simple licensed services such as Microsoft 365, we will help you transform your business into the modern, efficient workplace you are striving for.
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Check out our resource center to learn more about Business Entity Registeration.
We’ve got the expert insights your business needs.
Frequently asked
questions.
Each entity has its advantages and disadvantages, so which entity to choose depends on what the company intends to do.
A business name/enterprise is just you doing business with another name, meaning that the business is not separate from you. While a company is a legal entity separate from you.
Company is usually the best form of legal status as it ensures you are not liable in case of ‘business gone bad'. It is also easier to expand into more business ventures, register subsidiaries, and more with a company. Business name can’t offer you this freedom.
You can sell your shares in a company to raise capital. Investors also prefer a company to invest in. That, you can’t do or get with a business name.
If your dream is to have your business outlive you- to transfer the ownership to your upcoming generations, then the company is the way to go. You can have your kids as shareholders. That, you can’t get with a business name.
A foreigner can fully participate in the operation of any enterprise in Nigeria except enterprises on the negative list (which largely relates to the manufacturing of firearms and other military materials).
The foreigner may operate alone or in Joint ventures with Nigerians by means of a company, which has to be formed and registered with the Corporate Affairs Commission (CAC) and with the Nigerian Investment Promotion Commission (NIPC).
SplashDict has a full registration package for foreigners package that includes all the necessary permits, registered address, bank account opening, etc.
LP is a partnership arrangement with at least one general partner and at least one limited partner. The liabilities of a general partner are unlimited, while the liabilities of a limited partner are limited unless he partakes in the management of the partnership.
An LP should consist of not more than 20 persons and the name of an LP should end with the word “Limited Partnership” or the abbreviation “LP”.
The LLP is a partnership arrangement with a legal personality, separate from the partners. The liabilities of the partners of an LLP are limited to the amount agreed to be contributed or outstanding in the event of winding up.
An LLP shall have at least two “designated partners” who would be responsible for compliance with the requirements of the Act of the LLP. The designated partners should be individuals, at least one of whom must be a resident of Nigeria.
Convert Your Business Name to a Private Limited Company (LTD) in Nigeria
There are a variety of reasons why a business owner might want to convert their Business name to a Private Limited Liability company. We can help you with the conversion.
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There are lots of reasons why an individual would consider converting a business name to a limited liability company; mostly because there are limitations to the advantages and benefits enjoyed by a registered business name, and the most prominent reason would be for the purpose of expansion of business objects or upgrade of the business name, or for projecting a more professional image. A limited liability company has a lot of advantages accrued to it than a registered business name.
There are many benefits associated with registering your business as a private limited liability company, and where you have already registered your business as a business name, you can upgrade to a private limited liability company while retaining the name of your business.
Business Name vs Company
Business names are trading names for ventures registered at the CAC by at least one proprietor without shares. The owners of business names are different from their buiness names because business names are not corporate beings. Business names cannot sue or be sued and they cannot buy, sell or own Property.
The assets, liabilities, costs, profits, challenges and responsibilities of business names are actually that of their owners. Business names don't need registered secretaries or directors. Owners of business names are expected to pay income taxes but business names don’t pay income taxes (to avoid double taxation). However, business names are expected to file annual returns at the CAC.
Companies are business entities registered in CAC by at least one shareholder / Director. Companies are corporate beings, different from their owners and stakeholders (shareholders, directors and employees). Companies can sue or be sued and can own, buy or sell property. The assets, liabilities, costs, profits, challenges and responsibilities of companies are that of their owners. Companies pay Company Income Taxes and as expected that are different from that of their owners who pay Personal Income Taxes. Companies are expected to file annual returns to CAC.
Advantages of Converting Your Registered Business Name to a Private Limited Liability Company
There are limits to what you can do with a business name and the advantages enjoyed. You may need to convert your registered business name to a private limited liability company. A private limited liability company has many more advantages to be enjoyed than a registered business name. Some of the advantages of converting from a registered business name to a limited liability company are:
1. Converting to a private limited liability company instead of incorporating a fresh company has the advantage of you being able to keep the name used with the addition of “Limited” or “Ltd” at the end of the name. For example, we converted the business name “SplashDict” to a private limited liability company, “SplashDict Limited”.
2. Converting from a registered business name to a private limited company projects a more professional image. It shows the world that you are focused on the business and committed to abiding by professional corporate governance structures created by the Corporate Affairs Commission. It shows that the business is permanent and committed to effective and responsible management as well as instilling a sense of confidence in customers and suppliers.
3. Converting to a private limited company has the added advantage of increasing the number of business objects your company can have. The CAC currently has a policy that limits the number of business objects a registered business name can have to just three (3) objects as well as limiting the kind of business a registered business name can do. With a private limited liability company, there are no limits to the number of business objects the company can have or the type of business it can do.
4. Unlike a business name, a private limited liability company is a separate legal entity (an imaginary person) from the people who create/run it in the eyes of the law. It can sue and be sued in its own name.
5. The liability of the shareholders of a company is limited to the value of the shares they hold unlike business names such as sole proprietorships where the owner of the business bears the full liability or a partnership where the liabilities are evenly borne by the partners.
6. The private limited company has more sources of capital compared to the business name organizations. There is a higher number of people that can co-own the business and make financial contributions. The limit to the number of shareholders in a private company limited by shares is fifty, compared to the limit of twenty people in a partnership and just one person in the sole proprietorship.
7. Also, the status of a private limited company grants it the opportunity of loans and overdrafts from financial institutions. Banks are more willing to grant loans to limited liability companies than business names.
8. A private limited company is more likely to receive credit facilities from business suppliers than registered business name.
9. Because of the higher number of shareholders in a limited liability company, there is a greater pool of knowledge, skills, ideas and expertise compared to the partnership and sole proprietorship.
10. There is continuity in a private limited company. The death or withdrawal of a shareholder does not bring an end to the business unlike in sole proprietorship and some partnerships.
Requirements for Registering a Private Limited Company in Nigeria
For us to complete the upgrade of your Busness Name to Private Limited Company in Nigeria, the following details are needed:
- Registered Business Name details (Certificate, Information of Business)
- Proposed Name of the Company (2 Names).
- The objectives and nature of business of the company.
- Address of the company.
- The share capital and shareholding formula among shareholders.
- Details of all Shareholder(s), Director(s), Secretary. Details such as names, occupation, residential address, email address, mobile phone number and means of identification (such as National Identification Card, Data Page of International Passport, Driver’s Licence or Voter’s Card).
What are Shareholders?
Shareholders are people who own shares in a limited company – and shares indicate how ownership of the company is divided. Therefore, shareholders collectively own the business.
Anyone, including both individuals and organisations, can be shareholders in a limited company. Shareholders have a say in some company decisions (‘voting rights’) , like changing the company name and appointing or removing directors. But shareholders don’t run the company, unless they’re also directors.
Small ‘one-man bands’ and startups might only have one person in the business, who’s the sole director and sole shareholder. In this situation the limited company might only issue one share, representing 100 per cent of the business.
When we register your limited company, you need to provide us with information about the shares and how they’ve been issued. This includes:
- the number of shares and their total value (your company’s ‘share capital’).
- the names and addresses of your shareholders.
What is Share Capital?
Limited companies are usually ‘limited by shares’, which means that shareholders in the company are only personally liable for what they put into the business. Share capital, then, is the total money put into the business – the nominal value of the shares you’ve issued.
If shares represent ownership of the company, then share capital is the total value of the shares issued by a limited company.
Share capital is different to the market value of the shares. Share capital represents how much money was actually used to buy shares, but the market value of the shares might mean that those shares would be worth much more if sold.
As a limited company is a separate legal entity from its owners and directors, the value of someone’s shares is their total financial liability.
This means that if the company gets into debt and becomes insolvent, then shareholders have to pay in the nominal value of the shares they hold – but that’s the extent of their liability.
In the CAMA 2020, private companies must have a minimum issued share capital of N100,000. Limited companies can issue more shares after starting up, often if they want to expand or start working on new projects.
How long does Company Incorporation take in Nigeria?
Name Search and Approval: 6 - 48 hours from submission.
FIRS Stamp Duty Payment and Verification: 1 - 24 Hours from Payment.
Grant of Certificate of Incorporation: 3 -7 Days from filing.
Customized Best-Quality Company Seal: 6 - 24 Hours after incorporation Approval.
Total time – Approximately 5 - 14 days.
What is FIRS TIN?
Tax Identification Number (TIN) is a unique number given to an incorporated company for the purpose of identification and tax payment. The bank would request for the TIN before a corporate account can be set up for your company. Private company registration comes with automatic free TIN.
How Much Does it Cost to Convert Your Business name to Private Limited Company in Nigeria?
SplashDict will help you incorporate your Private Company Limited by Shares (LTD) in Nigeria. A minimum number of 1 member is required and a maximum of 50 members (Shareholders).
Upon completing the order, you'll be redirected to submit your information for Company incorporation.
INCLUDES;
- Drafting of all Legal Documents.
- Instant Delivery of Digital Copies of Company documents once approved; Certificate Of incorporation of Company, Memorandum & Article of Association, Status Report and Stamp Duty Certificate.
- Automatic FIRS Tax Identification Number; TIN is a unique number given to a incorporated companies for the purpose of identification and tax payment.
- 5 to 14 Business Days Delivery.
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3 Simple Steps
Tell us about your business
We’ve taken the complexity out of forming your business entity. Our easy online form can be completed in just 5 minutes or less.
We'll process Application
Based on the information you provide, we file them directly with the Corporate Affairs Commission.
Receive your documents
Once your incorporation documents have been approved by the Federal Ministry, you will receive your completed business entity package by e-mail/mail.
Why Choose Us?
Simple
Customers fill out a simple questionnaire, make a few certifications, and upload supporting documentation. Most users will spend less than 5 minutes on our site to complete the process.
Reliable
Founders can always rely on us to securely manage their confidential information—safe from any unauthorized and prying eyes.
