Now that you have launched your company, it’s important to know that your sustainability is largely dependent on your compliance structure.
Below is a list of regulatory compliance requirements for you as a startup in Nigeria:
- Company Registration: The incorporation of a company is a necessity to starting a company in Nigeria. You can’t begin operations as a company in Nigeria without registering your company with the Corporate Affairs Commission(CAC).
- Tax Registration and Compliance: It is important for you to register with the Federal Inland Revenue Service (FIRS) for tax remittance and obtain a Tax Identification Number (TIN).
- Sector-Specific Regulations: Depending on your industry, you may need additional licenses or permits. For example, every Fintech company needs to obtain a license from CBN before they can operate as a Fintech company in Nigeria. So find out the compliance requirements specific to your sector by getting in touch with a lawyer.
- Data Protection and Privacy: You must comply with the Nigeria Data Protection Regulation (NDPR) to safeguard user data and privacy.
For further information, consult us at Abilelegal Barristers and Solicitors.