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 is a testimonium clause in an agreement?

    This is the part of the agreement where the witness attests to have witnessed the execution of the agreement.
  • Do I have to physically drop off my product sample at NAFDAC office?

    No, you can choose to have it sent to NAFDAC office
  • Is it legal to transfer the personal data you obtained legally to another person?

    No, its not legal. This is because the law prohibits anyone from transferring the data of a third party to another person without consent from the third party to do same even if the data was rightfully obtained in the first instance.
  • Can I grant another person the permission to use my design?

    The right of the owner of an industrial design includes the licensing and authorization of another person to use the design.
  • 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 share capital?

    The share capital in a private limited company is the amount of money invested by its owners in exchange for shares of ownership.
  • Does Trademark registration protect my website domain name?

    Yes, it does.
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