NIPC Business Registration in Nigeria – when required?

NIPC Business Registration in Nigeria – when required?

August 08, 2022

The Nigerian Investment Promotion Commission (NIPC) was established by the Nigerian Investment Promotion Commission (NIPC) Act 16 of 1995 to encourage, promote, and co-ordinate all investments in Nigeria. It also regulates the participation of foreign businesses in the country.

The NIPC Act allows foreign nationals to own up to 100% equity and invest in any business in Nigeria except those indicated on the negative list as defined by section 31 of the Act such as production of arms, ammunition, narcotics and related substances.  Section 20 of the NIPC Act requires all enterprises in which foreign participation is permitted to apply to the Commission for business registration.

Business Registration in Nigeria

To apply for NIPC Business Registration Certificate in Nigeria, the following documents are required:

  1. Duly completed NIPC Form I;
  2. Memorandum & Articles of Association;
  3. Certificate of Incorporation;
  4. CAC Form 1.1 or Status Report (or CAC Forms CO2 and CO7 for old companies);
  5. Power of Attorney/ Letter of Authority (where applicable);
  6. Approved Remita payment receipt of prescribed fees (Non- refundable)
  7. NIPC payment receipt

Procedure for Processing

The NIPC Business Registration now takes 24 hours to process once all required documents are submitted. Applicants are to submit all required documents at the One Stop Investment Centre in NIPC or scanned copies sent to osicinfodesk@nipc.gov.ng; the NIPC Business Registration Certificate will then be issued to applicant.

Team 618 Bees

 

 

 

618 Bees can quickly and easily help you register your business with NIPC in Nigeria VAT. Log on to our website www.618bees.com or email hello@618bees.com, or give us a call on +2349017190079. 618 Bees will complete your application with the Nigerian Investment Promotion Commission (NIPC).

 

 

The information in this blog post (“post”) is provided for general informational purposes only, no information contained in this post should be construed as legal advice, nor is it intended to be a substitute for legal counsel on any subject matter. No reader of this post should act or refrain from acting on the basis of any information included in, or accessible through this post without seeking the appropriate legal or professional advice from the particular facts and circumstances at issue from a lawyer. This post is protected by intellectual property law and regulations. It may however be shared using appropriate sharing tools provided that our authorship is always acknowledged and this Disclaimer Notice attached

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Frequently Asked

  • When are Annual Returns due for filing?

    A company’s first Annual Returns are due for filing after 18 months of its inception, subsequently it should be filed annually as the name implies. The filing dates could differ for each company depending on their financial year end but must be filed not later than 42 days after its Annual General Meeting.

    The Annual Returns for Business Names is due not later than the 30th of June each year except in the year the business was registered.
  • Do I need a Company Secretary?

    A limited liability company (LLC) must not have a company secretary.
  • What are the terms of a contract?
    • an offer and an acceptance.
    • competent parties
    • Consideration
    • Legal subject matter
    • Mutual agreement/ Assent
    • Conesus ad idem
    • Obligation
  • If I have NAFDAC Registration number, do I still need SON registration number?

    SON Product Registration scheme is mandatory for all SON’s regulated products as mandated by SON Act 56 of 1971, 20 of 1984, 18 of 1990 as amended.

    This is irrespective of the registration done by NAFDAC
  • Is it legal to transfer the personal data you obtained legally to another person?

    No, its not legal. This is because the law prohibits anyone from transferring the data of a third party to another person without consent from the third party to do same even if the data was rightfully obtained in the first instance.
  • Is my copyright registration in Nigeria protected globally?

    The nature of copyright is territorial, so the copyright work is only protected in the country of registration
  • Is there a penalty for late renewal of registration of products with NAFDAC?

    Yes, there is a late renewal fee, which is dependent on the category of the product.
  • Why do i need a Shareholders Agreement?

    You need a Shareholders Agreement to protect your investment in a company.  The shareholders Agreement establishes a fair relationship between all shareholders and sets out how the company is run.
  • Does Trademark registration protect my website domain name?

    Yes, it does.
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