How a Belgian Can Register/Incorporate a Company in Nigeria from Belgium (Cost & Requirement)

Introduction

With a population exceeding 200 million people and a GDP of about $470 billion, Nigeria remains one of Africa’s most dynamic and promising economies. Over the last decade, trade relations between Belgium and Nigeria have strengthened, with Belgian exports to Nigeria reaching new heights in sectors like energy, logistics, maritime services, and manufacturing.

As more Belgian investors seek to expand into West Africa, the question often arises, how can a Belgian register or incorporate a company in Nigeria from abroad, without traveling to Nigeria?

This detailed guide provides every step, cost, and requirement for incorporating a Limited Liability Company (LLC) in Nigeria and subsequently opening a Nigerian corporate bank account, directly from Belgium. It is based on verified information from the Corporate Affairs Commission (CAC), Federal Inland Revenue Service (FIRS), and related Nigerian government agencies.

1. Overview of the New CAC AI-Powered Incorporation System

The Corporate Affairs Commission (CAC), which regulates company registration in Nigeria, has recently upgraded to an AI-powered digital portal that allows complete online incorporation from anywhere in the world.

This means:

• No manual form filling.

• No physical submission of documents.

• No courier dispatch or physical pickup of certificates.

All incorporation activities, from name reservation to certificate issuance, are completed digitally, and all documents are now verified online.

This innovation makes it possible for Belgian investors to incorporate a Nigerian company entirely remotely.

2. Why Nigerian Incorporation Appeals to Belgian Investors

Belgium’s economy is deeply globalised, and Nigerian markets offer opportunities in areas where Belgian expertise thrives, particularly energy infrastructure, port management, agricultural processing, logistics, and renewable technology.

Nigeria also offers:

• Full repatriation of profits for foreign investors.

• Tax incentives for pioneer industries.

• Access to ECOWAS, allowing trade with over 400 million consumers duty-free.

• Low startup entry barriers, especially under the CAC’s simplified processes.

By incorporating a Nigerian subsidiary or standalone company, Belgian businesses can bid for government contracts, engage in oil and gas supply chains, or participate in infrastructure projects requiring local presence.

3. Requirements for Incorporation

The Nigerian Limited Liability Company (LLC) remains the most popular and flexible structure for foreign investors.

Here is a breakdown of what is required from Belgian nationals seeking to register:

A. Company Name Search

You must provide proposed company names for approval on the CAC portal.

B. Details of Directors, Shareholders, and Secretary

• Full Names

• Residential Addresses

• Gender

• Date of Birth

• Nationality

• Phone Numbers

• Email Addresses

C. Shareholding Structure

Specify the equity distribution among shareholders. For instance:

• Belgian shareholder – 80%

• Nigerian shareholder – 20%

D. Business Objects

Define the intended business activities of the company, e.g., trading, consultancy, manufacturing, or logistics.

E. Identification Documents

Provide scanned copies of international passports or national IDs for all directors and shareholders.

F. Proposed Nigerian Office Address

A registered office in Nigeria is required for incorporation. If you do not have one yet, a registered office address service can be used.

G. Scanned Signatures

Directors and shareholders must provide scanned signatures on plain white paper for digital submission.

4. Can a Belgian Be the Sole Director and Shareholder?

Yes. A Belgian citizen can be both the sole director and sole shareholder of a Nigerian company.

However, there are practical limitations to this arrangement.

While a company can be fully foreign-owned, the foreign director cannot efficiently operate without possessing a Nigerian residency permit (CERPAC), which is necessary to obtain:

• BVN (Bank Verification Number)

• NIN (National Identification Number)

These are mandatory for opening corporate bank accounts and fulfilling certain regulatory obligations.

Recommended Option:

Until you secure a residency permit through a Subject to Regularization (STR) Visa backed by an Expatriate Quota (issued by the Ministry of Interior), it is advisable to appoint a Nigerian director.

This arrangement allows the company to open a bank account and function legally, while the Belgian retains full control as shareholder.

5. Step-by-Step Process for Incorporation

Step 1: Name Reservation (CAC Portal)

• Visit the CAC AI portal.

• Enter a proposed names and check for availability.

• Once approved, the name is reserved for 60 days.

Step 2: Digital Submission of Incorporation Details

• Fill in company type (Limited Liability Company).

• Enter director and shareholder information.

• Specify the business nature and share distribution.

Step 3: Upload Supporting Documents

• Scanned ID of each director and shareholder.

• Proof of Nigerian address.

• Passport-style photos.

• Signature pages.

Step 4: CAC Review and Approval

• The AI system verifies all entries.

• A CAC officer conducts a brief compliance review.

• Approval is issued within 2-4 working days.

Step 5: Certificate of Incorporation

• The certificate and incorporation documents are released digitally.

• You can download and print them anywhere in the world.

6. Post-Incorporation Compliance

Once the company is registered, you will need:

7. Corporate Bank Account Opening (Important Details)

A Nigerian corporate bank account can be opened once incorporation and TIN registration are complete.

However:
Banks in Nigeria require at least two director to possess:

• BVN and NIN (linked to a Nigerian phone number).

• Valid residency documentation (CERPAC).

Therefore, until the Belgian director enters Nigeria officially, it is recommended to:

• Appoint a temporary Nigerian director; or

• Use a professional firm’s local director service to meet bank compliance.

Once the Belgian investor obtains the CERPAC card, they can become a resident director and directly manage all bank and tax operations.

8. Estimated Cost Breakdown

Below is the estimated service cost, based on verified pricing from professional facilitation services:

Total Estimated Package: $2,650

Estimated Completion Timeline: 30–35 working days.

9. Legal and Immigration Notes for Belgian Investors

To manage the company efficiently from within Nigeria, Belgian investors must obtain:

• Expatriate Quota Approval – Granted by the Minister of Interior.

• STR Visa – Enables entry into Nigeria for work or business.

• CERPAC Card – Residency card required for BVN, NIN, and tax operations.

This three-step immigration process ensures you can function as an executive director legally in Nigeria.

10. Why Belgium-to-Nigeria Trade Relations Matter

Belgium has historically been one of Nigeria’s key European trading partners. The Port of Antwerp handles a significant volume of Nigerian exports, including oil and agricultural commodities.

Similarly, Nigerian demand for Belgian engineering technology, maritime logistics, and agricultural machinery has grown steadily. Establishing a local company in Nigeria offers Belgian entrepreneurs:

• Direct participation in large-scale projects.

• Local compliance for contract bidding.

• Tax-efficient profit repatriation mechanisms.

11. Benefits of Registering a Nigerian Company from Belgium

a. Remote Incorporation: 100% online via CAC’s AI portal.
b. Local Market Access: Direct bidding eligibility for government and private contracts.
c. Tax Advantages: Access to pioneer status incentives and double-taxation agreements.
d. Banking Flexibility: Ability to hold Naira and foreign currency accounts.
e. Ownership Control: Foreigners can own up to 100% equity in Nigerian LLCs.

12. Common Misconceptions

13. Frequently Asked Questions (FAQs)

Q1: Can I use my Belgian address as the company’s registered office?
No. Nigerian law requires a local registered address within Nigeria. You can, however, use a professional service provider’s address.

Q2: How long does the full process take?
On average, about 30–35 working days, including all certifications and account opening.

Q3: Do I need to visit Nigeria at any point?
Not for registration. You will only need to visit if you plan to personally operate the company or open the bank account under your own name.

Q4: Can I repatriate profits to Belgium?
Yes, Nigeria allows full repatriation of dividends and profits through approved banking channels.

Q5: What is the minimum share capital required?
For foreign-owned companies, ₦100 million is recommended, as it qualifies the entity for foreign participation and certain permits.

14. Conclusion

The process of registering a company in Nigeria from Belgium has become more transparent, digital, and globally accessible than ever.

Through the CAC’s AI-powered online portal, Belgian investors can complete company incorporation from anywhere in the world, download all certificates online, and later transition into full operations upon securing a residency permit.

By leveraging Nigeria’s vast consumer base, expanding trade infrastructure, and proximity to other African markets, Belgian entrepreneurs can establish a profitable presence that bridges Europe and West Africa seamlessly.

Whether you are an established Belgian enterprise or a startup exploring African expansion, this 2025 guide provides a clear roadmap, from incorporation to banking, for doing business in Nigeria confidently and compliantly.