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THE LEGAL FRAMEWORK FOR UNDERTAKING BUSINESS IN NIGERIA




To break into the Nigerian market, a foreign investor needs to compliance with industry regulations; have dependable/resourceful local contacts; local embassy for verification of contacts and information; reputable legal adviser and other relevant consultants are invaluable source of reference.
INCORPORATION WITH CAC
Minimum authorized share capital of N10,000.00 of which 25% must be allotted to the subscribers:– for foreign investors minimum paid up share capital of N10,000,000.00 required for the grant of a business permit;
Minimum of 2 Shareholders: – foreign shareholder + local nominee, individuals/corporate citizens allowed;
Minimum of 2 Directors - both may be non - resident but one Nigerian advisable.
PROCEDURE ON INCORPORATION
Obtain Incorporation Forms;
Prepare memorandum and Articles of Association (Memart);
Have a designated registered office in Nigeria, which cannot be a post office box or private mail bag address;
Pay Statutory Charges;
File Incorporation forms and Memart at the CAC, obtain Certificate of Incorporation.
GENERAL REQUIREMENT FOR ESTABLISHING A COMPANY
Incorporation;
Obtain pre-operational tax clearance certificate and
VAT registration;
Obtain foreign investment approvals;
Conclude immigration formalities for expatriate employees
MAIN LEGISLATIONS
Companies and Allied Matters Act (CAMA) 1990;
National Investment Promotion Act 1995;
Foreign Exchange (Monitoring & Miscellaneous Provisions) Act
1995.

For more information on Business registration in Nigeria, Business documentation & licensing, patent issues & permit etc.
Visit us at: Pukka Logistics & Support Services Ltd.
73 Allen Avenue, Ikeja.
 Call: 01-4549191; 08075686814; 08173598248
E-mail: info@pukkalogistics.com.ng or visit: www.pukkalogistics.com.ng

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