Basic Compliance For Tech Startups

Most tech start-ups face the challenge of determining the salient regulatory provisions of the law in their areas of operation.

This article highlights basic compliance considerations local and foreign tech start-ups must take into account before taking steps to set up business operations in Nigeria.

1. Minimum share capital Requirement: It is important for a tech startup to understand the minimum share capital requirements. The different share capital requirements will be addressed in a separate article. However, the most common minimum share capital for a company with "tech" objectives is N1 million. Where there is foreign participation in the tech startup then the company would be required to have N10 million share capital.