How a Saudi Can Incorporate/Register a Company in Nigeria from Saudi Arabia (Cost & Requirement)

Introduction

Nigeria, Africa’s largest economy with a GDP exceeding $470 billion and a population of over 200 million people, continues to attract investors from the Middle East, particularly Saudi Arabia. With Nigeria’s increasing demand for energy technology, infrastructure, agriculture, and finance partnerships, Saudi investors are strategically positioning themselves to enter the West African market. The good news is that you can now register or incorporate a Nigerian company remotely from Saudi Arabia, without having to travel.

This 2025 guide provides a detailed, step-by-step breakdown of the cost, process, and requirements for incorporating a Limited Liability Company (LLC) in Nigeria from Saudi Arabia, in line with the Corporate Affairs Commission (CAC)’s latest AI-powered online registration system.

Why Nigerian Business Incorporation Appeals to Saudi Investors

Saudi Arabia’s Vision 2030 emphasizes economic diversification and cross-border partnerships, making Nigeria a prime location for expanding into Africa.
Some of the reasons Saudi investors are drawn to Nigeria include:

• Expanding Market: Over 200 million consumers and strong purchasing power.

• Strategic Access: Gateway to the West African regional market (ECOWAS).

• Investment Protection: Nigeria offers bilateral trade agreements and investment protection frameworks.

• Ease of Incorporation: 100% digital registration through the CAC online portal, no physical visit required.

• Attractive Sectors: Agriculture, oil and gas, renewable energy, real estate, fintech, and infrastructure.

Step-by-Step Guide: How a Saudi Can Incorporate a Company in Nigeria

Step 1: Company Name Availability Search

You must provide a preferred name for your Nigerian company. The CAC portal will automatically check availability in real time.

Tip: Choose simple, professional names that align with your business purpose, the CAC AI system often rejects names too similar to existing entities.

Step 2: Provide Company and Director Details

You will need to submit:

• Full names of all Directors and Shareholders

• Residential addresses and contact details

• Nationality, gender, and date of birth

• Valid identification (international passport or national ID)

• Scanned signatures on a plain white sheet

The CAC now performs AI-based identity verification, ensuring documents meet Nigerian corporate standards.

Step 3: Define Shareholding Structure

Outline the share distribution among shareholders. Foreigners may hold up to 100% equity ownership in Nigerian companies, which is ideal for Saudi investors seeking full control.

However, it is crucial to understand that while a foreigner can act as the sole director, such a director cannot efficiently manage operations without Nigerian residency credentials.
To operate effectively, a Saudi director must obtain:

• STR Visa – Subject to Regularization Visa

• Expatriate Quota – issued by Nigeria’s Minister of Interior

• CERPAC Card – Combined Expatriate Residence Permit and Aliens Card

These documents allow the director to process a BVN (Bank Verification Number) and NIN (National Identification Number) required for regulatory compliance and opening a corporate bank account.

Until then, it is advisable for Saudi investors to appoint a Nigerian resident as interim director while maintaining full ownership as shareholders.

Step 4: State the Company’s Business Objects

Specify the primary business activities your company will engage in, for instance:

• Oilfield services

• Agricultural imports and exports

• Renewable energy supply

• Construction and real estate

• Consultancy or trade

This section helps the CAC determine your company’s classification and whether additional licenses may be needed.

Step 5: Provide a Nigerian Registered Address

All companies must have a registered office address in Nigeria.
For investors abroad, consultancy firms can provide a registered office address for the first year, allowing seamless compliance with CAC requirements.

Step 6: Certificate Issuance

Once approved, the CAC Certificate of Incorporation is issued digitally, there’s no longer any physical certificate collection or courier dispatch. You can download it directly from your CAC account.

Timeline and Processing Duration

Total completion time: Approximately 35 working days.

Cost Breakdown (All-Inclusive Package)

All services can be executed remotely without your physical presence in Nigeria.

Opening a Nigerian Bank Account from Saudi Arabia

To open a corporate bank account after incorporation, the following steps apply:

1. Complete Incorporation and obtain digital CAC certificate.

2. Get SCUML registration — mandatory for compliance under anti-money laundering laws.

3. Apply for TIN and Tax Clearance Certificate (required for bank KYC).

4. Submit Director Verification documents – valid ID and signature.

5. Bank Account Activation – With a local Nigerian director, the account can be opened within a week.

Note: Saudi nationals acting as directors will need to obtain a CERPAC Card before they can personally appear for BVN/NIN registration and operate the account.

Key Advantages for Saudi Investors

• 100% foreign ownership permitted

• No physical visit required for registration

• Digital certificate issuance through CAC portal

• Registered Nigerian address options available

• Bank account setup assistance post-incorporation

• Access to Nigeria’s rapidly expanding consumer and trade market

Common Misconceptions

Frequently Asked Questions (FAQs)

1. Can a Saudi be the only director and shareholder?
Yes. However, to operate fully (e.g., open a bank account or file taxes), they must have residency status in Nigeria via a CERPAC card.

2. Do I need to visit Nigeria to complete incorporation?
No. The entire process is done online through the CAC’s AI-driven portal.

3. Can I use a virtual office address?
Yes, consultancy firms can provide one year of registered address service.

4. How long does it take to open a bank account?
Typically 7–10 days after incorporation, once SCUML and TIN are ready.

5. Can I appoint a local director temporarily?
Yes, and it’s often advisable until you obtain your CERPAC for compliance.

Conclusion

For Saudi entrepreneurs aiming to expand into West Africa, Nigeria represents an unparalleled opportunity for growth and partnership. With its AI-powered CAC portal, clear regulatory framework, and thriving economy, you can now incorporate your Nigerian company from Saudi Arabia within weeks — entirely online.

By working with experienced consultants familiar with CAC, SCUML, and tax compliance, Saudi investors can confidently establish a compliant, bankable Nigerian entity ready to take advantage of Africa’s fastest-growing market.