NIPC Business Registration in Nigeria – Procedure and when required
- What is NIPC? – NIPC is the Nigeria Investment Promotion Commission, a Commission responsible for promoting, coordinating, and monitoring investments in Nigeria. NIPC registration is crucial for businesses seeking to invest in Nigeria to access investment incentives, guarantees, and protections. The Commission is governed by the Nigerian Investment Promotion Commission Act, 1995.
- WHEN IS NIPC REGISTRATION REQUIRED? – The NIPC registration is pertinent for foreign-owned businesses looking to enjoy the benefits of the Nigerian Government’s investment incentives and protections.
- BENEFITS OF REGISTRATION WITH NIPC
- Investment Incentives: As a registered company under the NIPC, there are several beneficial investment incentives, such as duty-free imports of capital equipment and repatriation of capital and dividends.
- Access to Information: The Commission provides registered businesses with up-to-date information on investment opportunities, regulations, and incentives in Nigeria.
- Legal Protection: Registering with the NIPC provides legal protection for businesses operating in Nigeria. It ensures compliance with the legal and regulatory requirements of the Nigerian government as well as promotes transparency and accountability in business operations.
- Pioneer Status: As a registered company under the NIPC, your business is qualified for pioneer status, which provides tax holidays and other benefits to companies investing in specific sectors, such as agriculture, manufacturing, and solid minerals.
- Aid with Approvals: The Commission assists businesses with obtaining the requisite approvals from relevant government agencies, which can fast-track the investment process and save time and resources.
- Investment Promotion: The Commission actively promotes investment opportunities in Nigeria, which can help businesses attract new investors and partners.
REQUIREMENTS FOR REGISTRATION WITH NIPC
- NIPC payment receipt
- Certificate of Incorporation
- Certified True Copy of the Memorandum and Articles of Association
- Evidence of payment of CAC fees (non-refundable)
- Duly completed CAC Form 1.1 (or CAC Forms CO2 and CO7 for old companies)
- Power of Attorney/Letter of Authority (if applicable)
- Means of identification such as National ID, passport biodata page for shareholders, directors and secretary.
- Copy of the foreign certificate of company’s board resolution for subscription to Nigerian company (if applicable).
- Residence permits of resident foreigners (if applicable)
PROCEDURE FOR REGISTRATION WITH NIPC
- Complete the NIPC Form 1 on the website at https://www.nipc.gov.ng;
- Payment of a non-refundable processing fee via Remita online portal at remita.net;
- Submission of all required documents at the One Stop Investment Centre (OSIC) in NIPC, incomplete document and incorrect informations provide might, cause a delay in the registration process;
- Issuance of NIPC Business Registration Certificate to the applicant.
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