Buying
Legal Fees for Property Transactions in Lagos: Full Guide
Laide Matthews · 24 June 2026 · 3 min read
Buying Property as a Company vs Personal Name: Tax & Title
Key takeaways
- Buying Lagos property in your personal name is simpler and cheaper to run; buying through a company adds CAC compliance and company tax, but gives you continuity, share-based exits and liability separation. The title perfection cost at purchase — the Lagos consent package — is broadly the same either way; the real differences show up in annual tax, death/probate and how you sell.
Last updated: 8 October 2026 · Reviewed by Laide Matthews
Last reviewed: 3 October 2026
TL;DR: Buying Lagos property in your personal name is simpler and cheaper to run; buying through a company adds CAC compliance and company tax, but gives you continuity, share-based exits and liability separation. The title perfection cost at purchase — the Lagos consent package — is broadly the same either way; the real differences show up in annual tax, death/probate and how you sell.
Side by side
| Factor | Personal name | Company (Ltd) |
|---|---|---|
| Title & consent at purchase | Deed + Governor's Consent in your name | Deed + Governor's Consent in company name |
| Perfection package | ~3% of assessed value (consent bundle) | Same ~3%; plus company documents at Lands Registry |
| Annual compliance | Land Use Charge; personal tax filings | Land Use Charge; CAC annual returns; company tax filings (audited accounts for trading companies) |
| Rental income tax | Personal income tax (Lagos) on rental income | Companies income tax regime; different deductions and rates |
| Death/succession | Property enters your estate; probate before transfer | Company survives; your shares pass through your estate instead |
| Exit | Sell the property: new deed, new consent, new fees | Sell property (same costs) or sell shares in the company (different tax/fees analysis) |
| Borrowing | Mortgage in your name; bank looks at your income | Corporate mortgage; bank looks at company accounts and often still wants directors' guarantees |
| Liability | Property risks sit with you personally | Company separates property risk from personal assets (with limits) |
Where personal name wins
Simplicity. One Land Use Charge bill, one tax identity, no CAC annual returns, no directors' meetings with yourself. For a family home or your first Lagos investment, personal title plus a proper will covers most needs. Personal ownership also aligns with NHF and RSA-backed mortgage routes, which are designed for individuals.
Watch-outs: the property is fully exposed to your personal liabilities and creditors; at death it freezes into probate until your executors get their grant; and adding a spouse or child later means a new deed and a second round of state fees.
Where company wins
Continuity. The company does not die. Ownership changes by share transfer, not by probate on the property. For families holding multiple assets, or partners pooling money, this is the difference between a share certificate conversation and a court process.
The share-sale exit. Selling a property triggers Governor's Consent for the buyer, stamp duty, and the ~3% package on assessed value. Selling the shares of a single-asset company changes who controls the property without a property transfer — with its own tax and stamp-duty analysis and serious due-diligence expectations from the buyer (they inherit the company's history too). Investors use this deliberately; amateurs stumble into it.
Risk ring-fencing. A tenanted block with staff, contractors and public liability sits better inside a company — though directors' guarantees and personal negligence pierce the comfort quickly if you run it carelessly.
Costs that follow you: CAC incorporation, annual returns, tax filings, possibly audit, a company bank account, and a registered address that actually receives letters. An inactive company struck off by CAC while holding your Ikoyi flat is a special kind of self-inflicted wahala.
Tax honesty
Rental income is taxable either way; the wrapper changes the regime, rates structure and what you can deduct — not whether you pay. Capital gains tax applies on disposal gains, with collection mechanics differing between individuals and companies. Lagos collects a capital-gains component inside the consent package at transfer. Do not let any "adviser" sell you a structure on the promise of "no tax" — sell it to yourself on administration and exit math instead, with your accountant's numbers on the table.
How to decide (the questions I ask clients)
- Is this a home, a single rental, or the start of a portfolio? Portfolios lean company.
- Who else is involved — spouse, partners, children? Shared ownership leans company or tenancy-in-common with wills.
- How will you exit — sell the asset, or hand over the whole holding? Share exits lean company.
- Will a bank lend? Individuals access NHF/RSA routes; companies access corporate credit.
- Can you honestly maintain compliance? If annual returns already scare you, personal title is the safer wrapper.
General information, not tax or legal advice. The right wrapper is a numbers exercise — run it with your accountant and property lawyer before the deed is drafted.
Frequently asked questions
Does buying through a company avoid Governor's Consent fees?
No. The company, like an individual, takes title by deed with Governor's Consent, stamping and registration — budget the same ~3% of assessed value package. The savings games happen at exit, not at entry.
Can a company get a mortgage in Lagos?
Yes — banks lend to companies against property, typically assessing company accounts and cash flow and often requiring directors' personal guarantees. NHF and RSA pension routes, however, are individual products.
What happens to company property when a shareholder dies?
The property stays with the company; it is the deceased's shares that pass through their estate. That separation is the main succession advantage of the company route.
Is rental income taxed differently for companies?
Yes — companies fall under the companies income tax regime with its own rates and deductions, while individuals pay personal income tax on rent. Which is cheaper depends on your numbers; model both with an accountant.
Can foreigners buy Lagos property through a company?
Yes. A Nigerian-incorporated company is treated as a Nigerian entity for land acquisition — the standard route around the Acquisition of Land by Aliens Law — while still needing Governor's Consent for the purchase itself.
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About the author
Laide MatthewsLagos Real Estate Consultant
Laide Matthews is a Lagos real estate consultant with a degree in Estate Management from Obafemi Awolowo University and experience across property sales, acquisition, leasing, management and advisory since 2019. Through BuyRentLagos, he writes about the questions that shape better property decisions in Lagos.
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