Nigeria has been projected is the 4th most populous Country by the year 2050. The enormous population and requirements for developments coupled with a company friendly government in position made Nigeria becoming a destination preferred by any investors on earth. The rewards Boasting OF INCORPORATING A BUSINESS IN NIGERIA
1) Foreigners and entities can fully possess a company in Nigeria: save for few exceptions, such as companies seeking to bid for contracts in oil and gas industry that will require 51% of shares of such companies be properties of Nigerians, foreign nationals 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 readily available for several types of newly registered companies in Nigeria. Some incentives include Pioneer Status Scheme, which grants a tax holiday exempting companies from certain industries obligations to pay for corporate tax and to withhold tax on dividends for 5 years. Such tax incentives include non-taxation in respect of gains from the sale of shares. Additionally, a foreign company may be exempted from your interest payable over a loan granted to some Nigerian company, at the mercy of fine print.
3) Repatriation of Capital and Interest: an international company registered and undertook business in Nigeria is eligible for repatriate it’s capital, profits and interests. However, such foreign company must have certificates of Capital Importation. Nigerian Foreign Exchange laws require that foreign investors wishing to repatriate their capital, dividends and profits must have proof capital invested for the country through Authorized Dealers (all banks licensed by Central Bank of Nigerian are Authorized Dealers). Immediately a foreign investor brought money to the country, a licensed Dealer employed to import the capital would issue the Certificate of Capital Importation. Basic Certificate, foreign investors have entitlement to repatriate almost all their capitals, dividends, interests or profits.
4) Seamless Immigration System and Business Permit: Having registered a firm in Nigeria, investors are entitled to reap the benefits of Nigerian seamless immigration and business permit system. An organization registered by foreigners or has foreigners, as shareholders must get yourself a Business Permit Certificate. As well as any company wanting to employ foreigners could also submit an application for Expatriate Quota Approvals. After Expatriate quotas should have been granted on the company, any foreigners the corporation would like to employ can seamlessly apply for Nigerian residency and work permit also referred to as Combined Expatriate Residence Permit and Aliens Card (CERPAC). Law firms or shareholder trying to visit Nigeria for business prior the processing of CERPAC, that takes about About six weeks to process may obtain a Temporary Visa (TWP), which can be processed within 2 to 4 days.
5) Swift and Efficient Business Registration: The corporation registration in Nigeria is very quickly and efficient. Besides, a trader may not should be physically present in Nigeria to incorporate a business. Under Nigerian law, minimum of 2 shareholders are required to incorporate a company. One particular investor can arrange an additional nominee shareholder. Additionally, a foreigner needs not to personally acquire url in Nigeria before they can register an organization. As well as recent, there were many good and efficient office arrangements in Nigerian’s big cities like Lagos, Port Harcourt and Abuja. With your arrangements, a different company trying to maintain 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 company.
For more information about Lawyers in ikeja webpage: this site.