Legal entity types in Nigeria compared
Our team is experienced in helping entrepreneurs navigate the complexities of Nigeria’s business structures. Our range of services help you select the right structure for your business and ensure you meet all legal obligations. Let’s discuss the different business structures and how we can support you in establishing your business in Nigeria.
Legal entities in Nigeria
Here is a summary of the most widely used legal structures in Nigeria:
| Entity | Local name | Min. share capital | Management | Incorporation time (approx.) |
|---|---|---|---|---|
| Private Limited Company | Private Limited Liability Company | ₦ 100000 ($ 216) | Directors | 14 days |
| Public Limited Company | Public Limited Company | ₦ 2000000 ($ 4320) | Board of directors | 21 days |
| Branch Office | – | – | Branch manager | 15 days |
| Holding Company | – | – | Board of directors | 10 days |
Private Limited Company (Ltd.)
Private Limited Companies are widely chosen by businesses in Nigeria because they provide limited liability protection to their owners. They offer a flexible structure and are easy to establish, making them a convenient option for entrepreneurs. We are available to assist you in the setup of your Private Limited Company in Nigeria.
Public Limited Company (PLC)
PLCs, or Public Limited Companies, are frequently selected by big businesses in Nigeria. Their capacity to generate funds through public offers and ease in share transactions provide notable benefits. Our team is available to help you with the registration of your Public Limited Company in Nigeria.
Branch Office
A branch office serves as a continuation of the parent company, enabling it to operate in a new area while maintaining its original legal identity. Setting up a branch office in Nigeria can benefit companies seeking to grow their business in the country without forming a distinct legal entity. By functioning as a branch, the parent company can make use of its established brand name and resources while accessing new markets. We provide thorough assistance to help navigate the complexities of establishing and overseeing a branch office in Nigeria, guaranteeing a seamless and lawful entry into the market.
Holding Company
A holding company is a key tool used to control other companies by owning their shares, offering benefits such as centralized management, risk diversification, and tax advantages in Nigeria. Forming a holding company can help you manage multiple subsidiaries effectively, improve decision-making processes, and optimize tax planning. Our specialized team can help you set up and run a holding company in Nigeria, ensuring adherence to regulations and maximizing your corporate structure’s potential.
Requirements for starting the business
Let’s examine the necessary criteria for initiating any form of business establishment in Nigeria and how our committed team assists you throughout the entire process.
Minimum share capital
Based on the business structure selected, Nigeria has specific minimum share capital requirements in place. Our team is here to help you calculate the necessary minimum share capital for setting up your business, regardless of the type of corporation you choose. We will collaborate closely with you to make sure your business is in line with regulations and that your financial resources are used efficiently.
Directors and shareholders
In Nigeria, every company must have directors and shareholders. Our experts offer valuable guidance in selecting directors who align with your business goals and bring invaluable experience to the company.
Legal duties and obedience
It is essential to remain diligent in fulfilling obligations such as registration with regulatory bodies, regular reporting, and tax responsibilities. Our legal team manages all administrative duties to guarantee full compliance, enabling you to concentrate on core activities without being burdened by paperwork.
Book a consultation
The team invests the effort to comprehend your goals, industry, and challenges, which allows us to offer tailored assistance during the process of forming your business. Our expertise and commitment to excellent service ensure a smooth path towards creating a profitable company in Nigeria. Don’t let the challenges of setting up a business in Nigeria hinder your success. Trust in us, and together we will help your organization reach its full potential. Start the journey towards success by reaching out to us. Simply complete and submit the inquiry form below, and our experts will reach out to you.