For foreign participation in the Nigeria business sphere, certain permits are required of investors, such permits include, but not limited to expatriate quotas, business permits, residence permits.
Expatriate Quota is the official permit given to business organizations operating in Nigeria to employ non-Nigerians into specifically approved job designations. It also specifies the duration of such employment as permitted.
There are basically two types-
- Permanent until Reviewed (PUR): – This permit is usually granted for the post of Chairman of the Company’s Board of Directors or the Managing Director.
- Temporary – This is for directors and other employees of the company. The Maximum number of years granted in the first instance is five years renewable for a further period of two years. Requirements for obtaining Expatriate Quota includes:
- Immigration Form II
- Tax Clearance Certificate
- Company Incorporation Documents
- Evidence of Capital Importation
- Evidence of ownership of premises/Lease Agreement
- Resume of the Expatriates
- Feasibility Studies/Business Plan.
while Business Permit on the other hand is where Foreign nationals obtain a business permit before beginning a profession, business or trade in Nigeria. This permit allows for the local operation of a business with foreign interest and this is issued by the Federal Ministry of Interior.
Some of the requirements for obtaining Business Permits in Nigeria include:
- Certificate of Incorporation of the applicant company;
- Copies of the Tax Clearance Certificate of the applicant company;
- Copies of the Memorandum and Articles of Association;
- CAC Forms 2.1
- Joint Venture/Partnership Agreement where applicable.
- Shareholding of the Company should be a minimum of 10 million.
Residence Permit: The Nigerian Immigration Service issues a Combined Expatriate Residence Permit And Aliens Card (CERPAC) for expatriates who intend to live and work in Nigeria. After the grant of the expatriate quota positions, the expatriates will each be required to apply for residence permits, in order for them to reside and work in Nigeria. Expatriates can be accompanied by their families and dependent applications will be submitted on their behalf
Requirements for obtaining a Residence Permit includes:
- Application letter from the employer requesting Regularization of stay and accepting Immigration Responsibility on behalf of the expatriate.
- Letter of Appointment/Employment.
- Acceptance of offer of Appointment/Employment.
- Form IMM22 with three (3) Passport –size photograph.
- Expatriate Quota Approval
- Vetted Credentials
- Valid Passport with STR (Subject to Regularization) (Employment) visa and photocopies of relevant pages.
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