Starting up Businesses In Nigeria By Foreign Investors: Report on Advantages and General Guidelines

Nigeria may be projected is the 4th most populous Country with the year 2050. The huge population as well as for developments coupled with a small business friendly government available have made Nigeria becoming a destination of choice for any investors on the planet. The advantages AND FEATURES OF INCORPORATING An enterprise IN NIGERIA

1) Foreign nationals and entities can fully own a company in Nigeria: save for few exceptions, including companies wanting to bid for contracts in gas and oil industry that will require 51% of shares of which companies be of Nigerians, foreign nationals may register and fully own shares of the limited liability company 100% in Nigeria.

2) Tax incentives for businesses in certain industries: There are numerous tax incentives intended for different types of newly registered companies in Nigeria. Lawyers in ikeja of these incentives include Pioneer Status Scheme, which grants a tax holiday exempting companies from certain industries obligations to cover corporate taxation and also to withhold tax on dividends for years. Such tax incentives include non-taxation in respect of gains in the sale of shares. Furthermore, an international company could possibly be exempted from your interest payable on a loan granted to a Nigerian company, be subject to stipulations.

3) Repatriation of Capital and Interest: a different company registered and undertook business in Nigeria is eligible to repatriate its capital, profits and interests. However, such foreign company have to have a piece of paper of Capital Importation. Nigerian Forex trading laws require that foreign investors needing to repatriate their capital, dividends and profits should have evidence capital invested on the country through Authorized Dealers (all banks licensed by Central Bank of Nigerian are Authorized Dealers). Immediately a different investor brought money into the country, a licensed Dealer employed to import the capital would issue the Certificate of Capital Importation. With your Certificate, foreign investors are entitled to repatriate each of their capitals, dividends, interests or profits.

4) Seamless Immigration System and Business Permit: Having registered a business in Nigeria, investors are entitled to reap the benefits of Nigerian seamless immigration and business permit system. A business registered by foreign nationals or has foreigners, as shareholders must obtain a Business Permit Certificate. And any company planning to employ foreigners also can sign up for Expatriate Quota Approvals. After Expatriate quotas have to have been granted on the company, any foreigners the organization needs to employ can seamlessly apply for Nigerian residency and visa also referred to as Combined Expatriate Residence Permit and Aliens Card (CERPAC). A business worker or shareholder wanting to visit Nigeria for business prior the processing of CERPAC, that can about About 6 weeks to process may make application for a Temporary Work permit (TWP), that may be processed within Two to four days.

5) Swift and Efficient Business Registration: The corporation registration in Nigeria is currently very quickly and efficient. Besides, a trader probably won’t need to be physically contained in Nigeria to add an organization. Under Nigerian law, the least 2 shareholders have to will include a company. An individual investor can arrange an extra nominee shareholder. Additionally, a foreigner needs to never personally acquire an address in Nigeria before he or she can register a business. As well as recent, there has been many good and efficient office arrangements in Nigerian’s big cities such as Lagos, Port Harcourt and Abuja. With your arrangements, an overseas company wanting to maintain a temporary address in Nigerian can contract numerous companies offering office spaces, maintain addresses plus help handle calls and correspondences on the part of the company.

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