How To Get Exemption For A Foreign Company To Operate In Nigeria
Every foreign incorporated company that wishes to operate in Nigeria is required to register its company with the Corporate Affairs Commission. However, there are certain companies exempted.
Foreign companies are exempted from registering in Nigeria in the following instance;
- Where the foreign company was invited by a donor company or an international organisation for a specific individual loan project.
- Where the foreign companies were invited by the Federal Government to execute a specific project.
- Foreign companies with expertise such as Engineering or Technical expertise invited on the approval of the Federal government or its agency or with any body or individual carry on a federal government contract and for that specific purpose.
- Foreign government owned companies solely for the promotion of export.
An application for an exemption must be made to the Minister and should be in writing and would include the following;
- The details of the company, which is the Name and address of the business outside Nigeria and proposed name and address of the business in Nigeria.
- The particulars of the directors, partners and principal members.
- A certified copy of the Memorandum of Association, charter, statutes or any other defining instrument as may be required and if not written in English translated.
- Details of the contact person required to receive notices and service of processes in Nigeria.
- The business and the expected timeframe for completion
- Particulars of any project previously carried out by the company as an exempted foreign company if any.
An application may be granted where the Minister deems it expedient to do so. An exemption for a foreign company must have an expected time frame.
An exemption can also be revoked anytime where the foreign company fails to meet up with the provisions of Corporate and Allied Matter Act (CAMA).
Where the exemption is granted, the Minister shall publish in the gazette of the Federal government, the name of the company granted exemption, the period and the project it was granted for.
Team 618 Bees
618 Bees can quickly and easily help you apply for an exemption for your foreign company in Nigeria. Log on to our website www.618bees.com or email firstname.lastname@example.org, or give us a call on +2349017190079. 618 Bees will complete your application with the Corporate Affairs Commission (CAC).
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