Tips For Foreign Companies Investing in Nigeria
– Foreign companies intending to
carry on business in Nigeria should note the following-
carry on business in Nigeria should note the following-
1. Foreign
companies must be registered as corporate entities in Nigeria with the
Corporate Affairs Commission
companies must be registered as corporate entities in Nigeria with the
Corporate Affairs Commission
2. Penalty for
foreign companies who fail to comply with the directive above shall be guilty
of an offence and liable to conviction to a fine and every officer or agent of
the company who permits the default shall also be liable to a fine.
foreign companies who fail to comply with the directive above shall be guilty
of an offence and liable to conviction to a fine and every officer or agent of
the company who permits the default shall also be liable to a fine.
3. Foreign
companies may apply to the President for exemption via the Secretary to the
Govt of the Federation.
companies may apply to the President for exemption via the Secretary to the
Govt of the Federation.
4. Exemptions are
granted on the basis that the company was invited to Nigeria by the Federal
Govt or International Organization to carry out a specific project.
granted on the basis that the company was invited to Nigeria by the Federal
Govt or International Organization to carry out a specific project.
5. Such exempted
company shall have the status of an unregistered company.
company shall have the status of an unregistered company.
Adedunmade Onibokun and Co.,