This detailed guide explains how Emirati investors and businesses in Dubai or anywhere in the UAE can register a Limited Liability Company (LLC) in Nigeria without needing to be physically present. You will learn about the costs, requirements, timelines, compliance procedures, and practical realities of managing a Nigerian company as a foreign national.
Table of Contents
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Introduction
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Why Emirati Investors Are Setting Up in Nigeria
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Legal Entity Options for Foreigners
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Step-by-Step Guide to Incorporating a Nigerian LLC from the UAE
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Required Documents & Information
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CAC Incorporation Process (AI-Powered Portal)
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Post-Incorporation Compliance
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Bank Account Opening in Nigeria for Foreign-Owned Companies
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STR Visa, Expatriate Quota & CERPAC Explained
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Importance of SCUML Certification
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Cost Breakdown & Timelines
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Common Mistakes to Avoid
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FAQs
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Conclusion
1. Introduction
Nigeria, Africa’s most populous nation and its largest economy, continues to attract Emirati entrepreneurs looking to expand into West Africa’s high-growth markets. With a population of over 200 million people, access to 15 ECOWAS countries, and a rapidly growing middle class, Nigeria presents massive potential across energy, trade, real estate, tech, agriculture, and logistics.
The Corporate Affairs Commission (CAC) now offers a fully AI-driven online registration system, allowing Emirati investors to complete company incorporation and obtain digital certificates remotely from Dubai or Abu Dhabi.
However, while registration is 100% remote, operating the business efficiently requires understanding certain legal and practical realities, especially regarding residency permits (CERPAC) and bank account access.
2. Why Emirati Investors Are Setting Up in Nigeria
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Strategic trade hub: Nigeria serves as the gateway to West Africa, with duty-free access to the ECOWAS market.
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Booming consumer base: Over 200 million people, majority under 35 years old.
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Sector diversity: Opportunities in energy, tech, agriculture, construction, logistics, and halal trade.
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Legal protection: Incorporated companies enjoy limited liability and separate legal personality.
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Digital registration: The CAC’s online portal makes incorporation faster and fully remote.
3. Legal Entity Options for Foreigners
The most suitable structure for Emirati investors is a Private Limited Liability Company (LLC).
Key features:
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Separate legal personality
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Limited liability for shareholders
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Allows foreign or Nigerian directors
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Can engage in nearly all lawful business activities
4. Step-by-Step Guide: Incorporation and Bank account Opening Requirements from the UAE
To incorporate a Nigerian LLC while in Dubai or Abu Dhabi:
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Name Reservation: Submit preferred names via the CAC portal.
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Prepare Details: Include directors, shareholders, business objects, and Nigerian address.
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Upload Documents: Use the CAC AI-powered system (no physical submission).
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Pay Online Fees: Make payments through the CAC portal using international cards.
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Receive Digital Certificate: CAC issues incorporation certificate online only.
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Obtain TIN: Register with the Federal Inland Revenue Service (FIRS).
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Apply for SCUML Certificate: Required for banking and compliance.
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Appoint Directors: While foreigners can be sole directors/shareholders, appointing a Nigerian director allows smoother banking and compliance.
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Open Corporate Bank Account: Once regulatory documents are in place.
5. Required Documents & Information
| Requirement | Details |
|---|---|
| Proposed Company Names | A name option for reservation. |
| Directors | Emirati or Nigerian nationals. Passport, address, DOB, email, phone required. |
| Shareholders | Can be UAE nationals. Provide passport copies, address, scanned signature. |
| Shareholding Structure | Percentage breakdown (e.g., 100% foreign ownership allowed). |
| Registered Office | Must be a Nigerian address (can be provided by service agent). |
| Identification | Valid Emirates passport or national ID for Emiratis. |
| Signatures | Scanned signatures for all directors and shareholders. |
| Banking Docs | CAC certificate, forms, TIN, SCUML, ID cards, passport photos, and resolution. |
6. CAC Incorporation Process (AI-Powered)
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Reserve Company Name on CAC portal.
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Enter Shareholder/Director Data.
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Upload Documents & Signatures.
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Make Payment securely online.
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AI Review & Approval.
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Receive Digital Certificate and downloadable incorporation forms.
Thanks to CAC’s automation, Emirati investors can complete the process 100% remotely within 7–14 working days.
7. Post-Incorporation Compliance
After incorporation:
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Obtain TIN from FIRS.
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Apply for SCUML certificate if required.
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File Annual Returns with CAC yearly.
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Maintain tax compliance (CIT, VAT, WHT).
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Keep statutory registers and share certificates.
8. Bank Account Opening for Foreign-Owned Companies
Foreigners can legally be the sole director and shareholder, but practical limitations exist.
Nigerian banks require all signatories to have a Bank Verification Number (BVN) and National Identification Number (NIN).
➡️ Challenge: Both BVN and NIN require a CERPAC card (residency permit).
➡️ Solution: Appoint a temporary Nigerian director to enable smooth account setup and operations until the Emirati investor arrives and regularizes immigration status.
9. STR Visa, Expatriate Quota & CERPAC
To operate in Nigeria as an active director:
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Expatriate Quota: Authorises your company to employ foreign nationals.
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STR Visa: Issued by the Nigerian Embassy in Abu Dhabi or Dubai for entry.
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CERPAC Card: Residency permit obtained after arrival, enables BVN and NIN registration.
Without CERPAC, you can own the company but cannot manage banking or regulatory filings directly.
10. Importance of SCUML Certificate
Issued by the Economic and Financial Crimes Commission (EFCC) through SCUML, this certificate validates AML compliance.
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Required for most bank accounts.
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Issued within 5–7 working days.
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Mandatory even for non-DNFI businesses in some banks.
11. Cost Breakdown & Timelines
| Service | Duration | Cost (USD) |
|---|---|---|
| LLC Incorporation (100M Share Capital) | 7–14 working days | $1,775 |
| SCUML Certificate | 5–7 working days | $60 |
| TIN & Tax Clearance Certificate | 3–5 weeks | $275 |
| Director ID Verification | Same-day | $150 |
| Bank Account Assistance | After TIN | $80 |
| Registered Office (1 year) | 1 year | $250 |
| Change of Director (if needed) | 2–4 days | $60 |
| Total | ≈ 35 working days | $2,650 |
12. Common Mistakes to Avoid
| Misconception | Reality |
|---|---|
| Foreigners can’t be directors. | They can, but must have CERPAC to operate efficiently. |
| CAC issues physical certificates. | All documents are digital now. |
| Bank account opens automatically. | Requires BVN/NIN—needs residency permit. |
| SCUML is optional. | Banks insist on it. |
| Government fees are the main cost. | Service/processing fees make up part of total cost. |
13. FAQs
Q1. Can an Emirati register a Nigerian company remotely?
Yes, the CAC AI portal allows full remote registration with all documents issued digitally.
Q2. Can a foreigner be the sole director and shareholder?
Yes, but they will need CERPAC → BVN/NIN before they can manage bank or regulatory operations.
Q3. Is 100% foreign ownership allowed?
Yes. Nigeria permits full foreign ownership in most sectors.
Q4. How long does it take?
Approximately 5–6 weeks for full setup including bank account and compliance.
Q5. Do I need to visit Nigeria?
Not initially. A local director can act on your behalf until you secure STR Visa + CERPAC.
14. Conclusion
Incorporating a company in Nigeria from the UAE (Dubai, Abu Dhabi, or Sharjah) is seamless and fully digital.
However, while an Emirati can own 100% of the shares and even be the sole director, operational efficiency depends on securing a CERPAC card, which allows BVN and NIN processing for banking and compliance.
Estimated cost: ≈ $2,650
Timeline: ≈ 35 working days
By following the steps in this guide, Emirati investors can establish a compliant, bankable Nigerian entity, opening doors to West Africa’s thriving trade and investment ecosystem.
