Nigeria is a great country to invest in. It has a dense population of close to 150 million, which makes doing business in Nigeria quite viable. It is quite popular for producing oil, which happens to be one of its best foreign exchange bringers. Its government is putting measures to curb corruption together with red tape to ensure that businessmen have an enabling environment to engage in oil ventures or other establishments they project to be lucrative.
A foreigner interested in carrying out a venture in the country ought to be armed with the right information. First, a person needs to know what it takes to set up a company in this country. The process is quite simple as there are minimal restrictions for foreigners looking to achieve the objective in question.
A foreign national must incorporate a local entity to get started. The chosen local vehicle must be recognized by the Nigerian Investment Promotion Commission (NIPC). The Corporate Affairs Commission (CAC) will take one through the process of commencement and regulation of the firm to be set up.
Hiring a Nigerian solicitor is a viable alternative. This professional will represent the interest of the outsider and may have a number of shares in the local company. Upon compliance with all the instigation requirements, the professional will forfeit his rule of attorney and his principal, who is the foreigner, takes over. For contacts concerning instigation, CAC and NIPC websites come in handy. Visiting the mentioned websites provides access to accurate details. One should simply follow the links to CAC and NIPC that the various search engines provide.
There are a number of concerns with setting up a venture in this particular country. One of the concerns is corruption; one wonders whether he needs to give bribes so as to be incorporated in the country. The truth of the matter is no bribe ought to be given. Going through the right channels will eliminate the need to be engaged in corrupt practices all in the name of being incorporated.
Security is great in the country with minimal violent vices arising annually. The reason for this is simply because the government has undertaken to protect its nationals and outsiders too. Religion has been a contentious issue too. The state is divided into Muslim North, the Sectarian and Christian South. Caution must be exercised by a person to avoid instances of being a victim of religious strife. Of late, there has been feud among the various groups.
Vitally, a person must know how to behave in order to avoid chaotic situations involving religion. It would be wise to have a companion from the state under discussion so as to have a feel on what to do when confronted with such an issue. Still, one should not deny himself the opportunity of exploring the rich Nigerian commerce scene all because of religious matters. This is mainly because the country has a lot to offer investors giving them value for their investment.
On the whole, setting up a profit making establishment in Nigeria is a splendid idea for an alien. Basically, one needs to go through NIPC and CAC to be taken through the process of incorporation. The option of an honest local solicitor to act on the behalf of a potential company owner can also be explored together with following up with these two bodies. Once all the formalities are in check, everything else will fall into place.
A foreigner interested in carrying out a venture in the country ought to be armed with the right information. First, a person needs to know what it takes to set up a company in this country. The process is quite simple as there are minimal restrictions for foreigners looking to achieve the objective in question.
A foreign national must incorporate a local entity to get started. The chosen local vehicle must be recognized by the Nigerian Investment Promotion Commission (NIPC). The Corporate Affairs Commission (CAC) will take one through the process of commencement and regulation of the firm to be set up.
Hiring a Nigerian solicitor is a viable alternative. This professional will represent the interest of the outsider and may have a number of shares in the local company. Upon compliance with all the instigation requirements, the professional will forfeit his rule of attorney and his principal, who is the foreigner, takes over. For contacts concerning instigation, CAC and NIPC websites come in handy. Visiting the mentioned websites provides access to accurate details. One should simply follow the links to CAC and NIPC that the various search engines provide.
There are a number of concerns with setting up a venture in this particular country. One of the concerns is corruption; one wonders whether he needs to give bribes so as to be incorporated in the country. The truth of the matter is no bribe ought to be given. Going through the right channels will eliminate the need to be engaged in corrupt practices all in the name of being incorporated.
Security is great in the country with minimal violent vices arising annually. The reason for this is simply because the government has undertaken to protect its nationals and outsiders too. Religion has been a contentious issue too. The state is divided into Muslim North, the Sectarian and Christian South. Caution must be exercised by a person to avoid instances of being a victim of religious strife. Of late, there has been feud among the various groups.
Vitally, a person must know how to behave in order to avoid chaotic situations involving religion. It would be wise to have a companion from the state under discussion so as to have a feel on what to do when confronted with such an issue. Still, one should not deny himself the opportunity of exploring the rich Nigerian commerce scene all because of religious matters. This is mainly because the country has a lot to offer investors giving them value for their investment.
On the whole, setting up a profit making establishment in Nigeria is a splendid idea for an alien. Basically, one needs to go through NIPC and CAC to be taken through the process of incorporation. The option of an honest local solicitor to act on the behalf of a potential company owner can also be explored together with following up with these two bodies. Once all the formalities are in check, everything else will fall into place.
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When you are in need of some advice about doing business in Nigeria the best thing you can do is to take a look at our website. Follow the link and view the page on http://www.amungoconsulting.com.
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