Start a business in Nigeria

Choose your business structure - decide between a Business Name (sole proprietorship/partnership) or a Limited Liability Company (Ltd). Most fundable startups register as an Ltd.

Search and reserve your company name on the CAC portal (cac.gov.ng) or use Sidebrief to handle it for you. Name search costs ₦500.

Register your company on the CAC online portal or through Sidebrief. You will need: means of ID for all directors, passport photos, a memorandum and articles of association, and your registered office address.

Obtain your Tax Identification Number (TIN) from FIRS (firs.gov.ng) using your CAC certificate. This is required to open a business bank account and issue invoices.

Open a business bank account. Kuda Business is the fastest digital option. You will need your CAC certificate, TIN, and valid ID for all directors.

Register for VAT with FIRS if your annual turnover is above ₦25 million, or if your business model requires it (e.g. SaaS with B2B clients).

Apply for the Nigeria Startup Label via the Startup Nigeria portal (startup.gov.ng) if you are a tech startup. The label unlocks tax incentives and immigration benefits.

Get your foundational legal documents in place: co-founder agreement, IP assignment agreement, and employee/contractor agreements. Lawpadi has Nigeria-specific templates.