1.
Prepare and execute JVA and other pre-incorporation
contracts if in partnership with Nigerian(s)
2.
Incorporate the company with the Corporate Affairs
Commission (bearing in mind the procedure for incorporation) and obtain
original certificate of incorporation and relevant CTCs of incorporation
documents.
3.
Importation of Capital through a Authorized Dealer
(Approved Bank or CBN) and obtain certificate of Capital Importation issued by
the Central Bank of Nigeria.
4.
Register the Company with the Nigerian Investment Promotion
Commission, accompanied with relevant documents such as (a) original copy of
the duly completed NIPC Form (b) original copy of the treasury receipt for the
purchase of NIPC Form (c) a copy of the certificate of capital importation (d)
a copy of the certificate of incorporation of the applicant company (10m is the
authorized share capital) (e) a copy of the Tax Clearance Certificate of the
applicant company (f) Certified True Copy of CAC Form 2 and 7 (g) copy of the Certified
True Copy of Memorandum and Articles of Association (h) copy of treasury
receipt as evidence of payment of stamp duties on authorized share capital of
the company as at the date of application (i) a copy of the JVA agreement
(unless 100% foreign ownership) (j) a copy of the feasibility report and
project implementation programme of the company for its proposed business (k) a
copy of the deed(s) of sub-lease/agreement evidencing firm commitment to acquire
requisite business premises for the company’s operation (l) copy of the
information brochure on foreign shareholder (if available) as testimony of
international expertise and credibility of the foreign partner in the proposed
line of business (m) Evidence of having sourced in the plant and machinery to
be used in the company’s business (n) job title designations of expatriate
quota positions required and CV’s of management/technical staff proposed for
employment.
5.
Apply to the Securities and Exchange Commission
for registration of the interest of foreigner in the shares of the company.
6.
Obtain relevant permits from relevant regulatory
agencies (e.g. business permit (Nigerian Immigration Service), Expatriate Quota
(Nigerian Immigration Service); Residence Permit (Nigerian Immigration Service),
visa (Nigerian Immigration Service); certificate of Approval for transfer of
technology (NOTAP); certificate of Acceptance of Intention to incur capital
expenditure (Fed. Ministry of Trade and Investment); Certificate of Capital
importation (Central Bank of Nigeria or authorized Dealer).
7.
Apply to obtain relevant incentives and reliefs
available under our law to foreign investors.
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