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

  • What additional documents do I require to file my Annual Returns?
  • 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.

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    This is the section in which the parties sign the contract or agreement.

  • 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.

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    Once granted, a patent is valid for 20 years.

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    Yes, there is a late renewal fee, which is dependent on the category of the product.

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    A minimum of two (2) shareholders is required to form a company.

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    A trademark can be any word, sign, symbol or graphic that you apply to your company, goods or services to distinguish them from those of your competitors; for example, a brand, product or company name, or logo. The trademark serves as a badge of origin for your business and its brands and products, and can consist of words, logos, slogans, colours and shapes, or a combination of all of these.

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