Nigeria continues to be projected to be the 4th most populous Country by the year 2050. The massive population and needs for developments coupled with an enterprise friendly government available have made Nigeria to become a destination preferred by any investors in the world. The rewards AND FEATURES OF INCORPORATING An enterprise IN NIGERIA

1) Foreigners and entities can fully possess a company in Nigeria: save for few exceptions, such as companies wanting to bid for contracts in oil and coal industry that will need 51% of shares of which companies be properties of Nigerians, foreigners may register and fully own shares of your limited liability company 100% in Nigeria.

2) Tax incentives for businesses in certain industries: There are numerous tax incentives designed for a variety of newly registered companies in Nigeria. Many of these incentives include Pioneer Status Scheme, which grants a tax holiday exempting companies from certain industries obligations to pay corporate income tax also to withhold tax on dividends for 5 years. Such tax incentives include non-taxation in respect of gains through the sale of shares. In addition, a different company may be exempted from the interest payable on the loan granted into a Nigerian company, susceptible to terms and conditions.

3) Repatriation of Capital and Interest: a foreign company registered and undertook business in Nigeria is eligible to repatriate it’s capital, profits and interests. However, such foreign company have to have a piece of paper of Capital Importation. Nigerian Forex laws require that foreign investors wishing to repatriate their capital, dividends and profits should have evidence capital invested to the country through Authorized Dealers (all banks licensed by Central Bank of Nigerian are Authorized Dealers). Immediately an international investor brought money in the country, a licensed Dealer accustomed to import the main city would issue the Certificate of Capital Importation. With such Certificate, foreign investors have entitlement to repatriate all their capitals, dividends, interests or profits.

4) Seamless Immigration System and Business Permit: Having registered a company in Nigeria, investors deserve take advantage of Nigerian seamless immigration and business permit system. A business registered by foreign nationals or has foreigners, as shareholders must have a Business Permit Certificate. And then for any company planning to employ foreigners also can sign up for Expatriate Quota Approvals. After Expatriate quotas have to have been granted to the company, any foreigners the corporation desires to employ can seamlessly submit an application for Nigerian residency and work permit also referred to as Combined Expatriate Residence Permit and Aliens Card (CERPAC). A business worker or shareholder planning to visit Nigeria for business prior the processing of CERPAC, that can take about Five to six weeks to process may make application for a Temporary Visa (TWP), which may be processed within Three to five days.

5) Swift and Efficient Business Registration: The company registration in Nigeria is currently very fast and efficient. Besides, a venture capitalist may well not should be physically within Nigeria to feature an organization. Under Nigerian law, the least 2 shareholders are needed to include a company. A single investor can arrange an additional nominee shareholder. Additionally, a foreigner needs never to personally acquire an address in Nigeria before they can register a business. And also recent, there were many good and efficient office arrangements in Nigerian’s big cities such as Lagos, Port Harcourt and Abuja. With Shipping and maritime lawyers in Nigeria , an overseas company seeking to have a temporary address in Nigerian can contract numerous companies offering offices, maintain addresses as well as help handle calls and correspondences with respect to the business.

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