Nigeria is an African country with a population of about 150 million. A business man can capitalize on this by doing business in Nigeria. The country is popular for its oil beds which feature as one of its greatest foreign exchange earner. Currently, its government is carrying out measures to deal with red tape as well as corruption so that investors can invest in oil and other lucrative ventures that the country has to offer.
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 potential business owner from outside of Nigeria has to incorporate a local vehicle to be allowed to commence operations. The chosen entity must be accredited by the Nigerian Promotion Commission (NIPC). Corporate Affairs Commissions (CAC) will help one set up and regulate his operations.
Selecting a Nigerian solicitor is a wise move as well. The expert is simply a representative of the alien. He may hold a few shares in the home establishment. Once all the requirements for setting up are in place, the expert loses his attorney power to the outsider. To get contacts concerning commencement, NIPC and CAC websites are useful as they provide accurate and up to date details. By simply following the links provided by search engines, one is good to go.
Several fears come up as far as the commerce in Nigeria is concerned. Unlike what many believe, it is not necessary to engage in corrupt activities to be recognized as a legal entity. In fact, when one follows the correct channels, bribery will be unheard of.
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.
Essentially, a person needs to know how to conduct himself to avoid being caught up in any religious feud. Making a Nigerian friend to guide one through this issue would be a wise idea. Nevertheless, religious issues should not stop one from enjoying goldmine in the nation.
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 potential business owner from outside of Nigeria has to incorporate a local vehicle to be allowed to commence operations. The chosen entity must be accredited by the Nigerian Promotion Commission (NIPC). Corporate Affairs Commissions (CAC) will help one set up and regulate his operations.
Selecting a Nigerian solicitor is a wise move as well. The expert is simply a representative of the alien. He may hold a few shares in the home establishment. Once all the requirements for setting up are in place, the expert loses his attorney power to the outsider. To get contacts concerning commencement, NIPC and CAC websites are useful as they provide accurate and up to date details. By simply following the links provided by search engines, one is good to go.
Several fears come up as far as the commerce in Nigeria is concerned. Unlike what many believe, it is not necessary to engage in corrupt activities to be recognized as a legal entity. In fact, when one follows the correct channels, bribery will be unheard of.
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.
Essentially, a person needs to know how to conduct himself to avoid being caught up in any religious feud. Making a Nigerian friend to guide one through this issue would be a wise idea. Nevertheless, religious issues should not stop one from enjoying goldmine in the nation.
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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