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

  • What additional documents do I require to file my Annual Returns?
  • What is the first thing I must do to register a business in Nigeria?

    To register a business in Nigeria; you would need to conduct a name search of the business. You can achieve this using your CAC-CRP account.
  • What is an execution clause in a contract?

    This is the section in which the parties sign the contract or agreement.
  • 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.
  • What is personal data?

    This is any information that can be used to identify an identifiable human person such passport photograph.
  • How long does a trademark registration in Nigeria Last?

    Trademark is valid for seven years from the date of application but you may renew the application for the trademark for an additional period of 14years.
  • What will happen if I buy the wrong category of forms with NAFDAC?

    Nothing, the purchased form will be in your account for future use.

     
  • Can my kids be shareholders in my company?

    Yes your kids can hold shares in your company but there must be a minimum of two adult shareholders before kids can be included.
  • Does a trademark search automatically reserve my trademark name?

    No, a trademark search does not automatically reserve that which is sought to be trademarked. A search ascertains whether that which is sought to be trademarked is available or violates any existing trademark.
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