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A business permit is a government approval that allows a foreign national or foreign company to operate a business in Nigeria either as a branch or subsidiary of a foreign company or otherwise. Foreigners can legally start a business in Nigeria with the use of a business permit. This permit is gotten after applying to the Ministry of Interior and with the consent of the Minister of Interior.
These requirements are for wholly owned companies and joint ventures with foreign participation:
It is an approval granted to registered firms and companies to employ the services of expatriates with suitable competences, with a view to training Nigerians and transferring the necessary skills during the period of employment of the expatriates. An Expatriate Quota states the number of foreigners employable by business registered firms and companies operating or wishing to operate in Nigeria.
Below are the requirements for grant of an expatriate quota
Any Company, Firm or Organization that satisfies the fundamental conditions and is lawfully registered in Nigeria and licensed to conduct business operations or approved activity can apply for and be awarded an Expatriate Quota.
Granting of Expatriate Quota is dependent on the registration with the Corporate Affairs Commission (CAC) or any other duly authorized governmental agency.
Expatriate Quota is an approval granted to registered firms and companies to employ the services of expatriates with suitable competences, with a view to training Nigerians and transferring the necessary skills during the period of employment of the expatriates while is a government approval that allows a foreign national or foreign company to operate a business in Nigeria.
An application for Expatriate Quota can be made as soon as the company is incorporated or once business operations begin, or whenever else is necessary after that.
The Minister of Interior Affairs, working in consonance with the Citizens and Business Department of the Ministry is responsible for the approval of an Expatriate Quota application.
An Expatriate Quota is granted for an initial period of 3 years. However, it can be renewed for an additional period of two years. During this period, all necessary and relevant skills comprised in the position should have been to have been transmitted to qualified Nigerian.
The processing time is about 20 business days.
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