How can a foreigner obtain Business Permit Licence in Nigeria?

How can a foreigner obtain Business Permit Licence in Nigeria?

October 25, 2019

The Immigration Act CAP 11 Laws of the Federation, 2004 in section 36 states that “No person other than a citizen of Nigeria shall accept the employment (not being with the Federal Government or state Government) with the consent in writing of the Director of immigration; or on his own account or in partnership with any other person, practice a profession or establish or take over any trade or business whatsoever or register to take over any company with a limited liability for any such purpose, without the consent in writing of the Minister given on such conditions as to the locality of operation and persons to be employed by or on behalf of such person, as the Minister may prescribe’’.

Invariably, a Business Permit is the licence issued by the Government of a state to a non-citizen/foreigner to conduct business within their jurisdiction.

In Nigeria, a foreigner looking to conduct business in Nigeria can obtain consent in form of a Business Permit from the Ministry of Interior. This is the ministry designated with this purpose.

A Business Permit is only needed where the company is solely made up of foreigners or where an international corporation enters into a joint venture with a Nigerian company.

To get a Business Permit in Nigeria, you must have the following;

  1. Register with the Nigeria Investment promotion Commission (NIPC), Submit completed NIPC Form 1 (3 copies), together with the original copy of the treasury receipt.
  2. Certificate of Incorporation
  3. Tax clearance of the company
  4. Certified True copies of Memorandum and Article of Association (3 copies)
  5. Certified True copies of CAC Form 2 & 7
  6. Approval from the appropriate professional bodies where applicable.
  7. Business Plan
  8. The shareholding structure of the joint venture (3 copies) when it is a joint venture
  9. Joint venture Agreement where applicable (3 copies).
  10. Evidence of capital importation for wholly foreign companies.
  11. A copy of Deed of Sub-Lease/Agreement evidencing firm commitment to acquire requisite business premises for the company’s operation;
  12. Profile of Foreign Investor.

 

618 Bees can help you quickly and easily obtain a Business Permit License. Log on to our website www.618bees.comor email hello@618bees.com, or give us a call on +2349017190079. 618 Bees will complete your application with the NIPC.

 

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

  • When are Annual Returns due for filing?

    A company’s first Annual Returns are due for filing after 18 months of its inception, subsequently it should be filed annually as the name implies. The filing dates could differ for each company depending on their financial year end but must be filed not later than 42 days after its Annual General Meeting.

    The Annual Returns for Business Names is due not later than the 30th of June each year except in the year the business was registered.

  • 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. 

  • When can I start renewal of the registration of my product(s) with NAFDAC?

    You can start renewal 6 months to the date of expiry.

  • What is personal data?

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  • Who benefits from copyright in Nigeria?

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  • Do I have to physically drop off my product sample at NAFDAC office?

    No, you can choose to have it sent to NAFDAC office

  • Why do i need a Shareholders Agreement?

    You need a Shareholders Agreement to protect your investment in a company.  The shareholders Agreement establishes a fair relationship between all shareholders and sets out how the company is run.

  • How long does a trademark registration in Nigeria Last?

    Trademark is valid for seven years from the date of application but you may renew the application for the trademark for an additional period of 14years.

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