What is a resident permit/ when do I need one in Nigeria?

What is a resident permit/ when do I need one in Nigeria?

May 07, 2019

People frequently ask questions like; what is a resident permit anyways? And when do I need one? The answer is not farfetched, it is hereby stated below.
So a residence permit is a document or card required in some regions, allowing a foreign national to reside in a country for a fixed or indefinite length of time. These may be permits for temporary residency, or permanent residency. Therefore, a residence permit is needed to be done in Nigeria when a foreigner wants to reside in Nigeria for a definite or an indefinite period of time.

It is worthy of note at this point that when a person intends both to live and work in Nigeria such a person will need an additional permit which is a business permit.
A business permit must be obtained by foreign nationals before beginning a profession, business or trade in Nigeria. This permit allows for the local operation of a business with foreign interest and this is issued by the Federal Ministry of Interior. Some of the requirements for obtaining business permits in Nigeria include:

• Certificate of Incorporation of the applicant company;
• Copies of the Tax Clearance Certificate of the applicant company;
• Copies of the Memorandum and Articles of Association;
• CAC Forms CO2 and CO7
• Joint Venture/Partnership Agreement where applicable.
• Shareholding of the Company should be a minimum of 10 million.

Team 618 Bees

The information in this blog post (“post”) is provided for general informational purposes only, no information contained in this post should be construed as legal advice, nor is it intended to be a substitute for legal counsel on any subject matter. No reader of this post should act or refrain from acting on the basis of any information included in, or accessible through this post without seeking the appropriate legal or professional advice from the particular facts and circumstances at issue from a lawyer. This post is protected by intellectual property law and regulations. It may however be shared using appropriate sharing tools provided that our authorship is always acknowledged and this Disclaimer Notice attached.

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Frequently Asked

  • Why must I file Annual Returns?

    It is a mandatory statutory requirement under the Companies and Allied Matters Act to file Annual Returns yearly. 
  • What’s the difference between a business name and an LLC?

    • A business name is a sole proprietorship, usually owned and managed by one individual only. Legally, the sole proprietor and his business are one. It simply means an individual trading with an alias. The sole proprietor is personally liable for all business related obligations.

    • A limited liability company on the other hand is a separate business entity from the individuals that hold its shares and act as directors. Legally, it’s a separate business entity and a person on its own who can transact business, own property separate from its owners and can sue or be sued. 
  • What are the terms of a contract?
    • an offer and an acceptance.
    • competent parties
    • Consideration
    • Legal subject matter
    • Mutual agreement/ Assent
    • Conesus ad idem
    • Obligation
  • What are the product categories available when registering with NAFDAC?

    The product categories include: Food, Cosmetics, Drug, Medical Device, Agro-Chemicals & Pesticide, Veterinary Products, Vaccines & Biologicals, Herbal and Nutraceuticals and Water
  • What is classified as personal data?

    Name, photograph, personal health/bio information, account/financial information, phone number, Address, date of birth, place of birth, Email address, etc.
  • Who benefits from copyright protection?

    The creator of a copyright work, usually referred to as the “author” of the work owns the copyright in the work in the first instance. However, the author is at liberty to transfer his rights to a third party. In such a case, the person who has obtained the right by transfer or other legal means becomes the owner of the copyright.
  • Is there a penalty for late renewal of registration of products with NAFDAC?

    Yes, there is a late renewal fee, which is dependent on the category of the product.
  • What is the first thing I must do to register a business in Nigeria?

    To register a business in Nigeria; you would need to conduct a name search of the business. You can achieve this using your CAC-CRP account.
  • Does a trademark search automatically reserve my trademark name?

    No, a trademark search does not automatically reserve that which is sought to be trademarked. A search ascertains whether that which is sought to be trademarked is available or violates any existing trademark.
All FAQs
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