REGULATORY AUTHORITY:
The Ministry of Interior is responsible for the grant of Business Permit to Companies in line with Part V, Section 36 (1) of the Nigerian Immigration Act, 2015 and Part III, Subsection 12 (1&2) of Immigration Regulations.APPLICATION PROCESS:
Application for a business permit in Nigeria by a foreign-owned company or a company with foreign participation is made to the Ministry of Interior. An imperative stipulation is that the company's authorized share capital must not fall below 100 million naira.ESSENTIAL DOCUMENTATION:
The application letter to the Ministry of Interior should be accompanied by the following documents:- Certificate of Incorporation,
- Memorandum and Article of Association,
- Feasibility Report (should be certified or registered with the Corporate Affairs Commission (CAC),
- Corporate Affairs Commission’s form C02 and C07 OR CAC 2.2, CAC 2.3 and CAC 2.5 OR CAC 1.1,
- Joint Venture Agreement for partnership venture between Nigerians and Foreigners (original to be presented for sighting),
- The company’s current Tax Clearance Certificate (Original to be presented for sighting), and
- Lease Agreement for C of O for operating premises (original to be presented for sighting).
APPLICABLE FEES:
The Ministry of Interior enforces a fee structure outlined below:| Type of Company | Automation Fee | Processing Fee | Approval Fee | Portal Fee | Total Amount |
|---|---|---|---|---|---|
| Wholly Foreign & Joint Ventures | 100,000 | 100,000 | 100,000 | 50,000 | 350,000 |
