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One looking to venture into Africa ought to consider Nigeria. It is a densely populated African country with approximately 150 million people. This makes doing business in Nigeria a feasible idea. It is well known for large scale oil production which is among its top foreign exchange earners. At the moment, the Nigerian government is trying its best to kick out corrupt practices and red tape out of its nation to attract investors to its oil ventures as well as other feasible establishments.
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.
Some issues concerning the commerce arena in the country in question often arise one of them being corruption. Contrary to the popular belief, one needs not bribe officials to be incorporated. As a matter of fact, following the proper channels will eliminate instances of corrupt practices.
Security is tight in the country making it safe to do business. Minimal violent crimes are reported each year as the government is doing the best it can to protect its citizens as well as foreign nationals. Religion has been a major issue as the nation is divided into the Muslim North, Christian South and Sectarian. One ought to be cautious on matters religion in this destination. This is because there has been strife for a while now among its various religious groupings.
Fundamentally, one needs to be aware of how to act to avoid being a victim during religious disturbances. Having a friend from the country is a wise move as one is given a guide on how to protect himself. On the other hand, religion should not be the reason for one avoiding business in this lucrative state.
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.
Some issues concerning the commerce arena in the country in question often arise one of them being corruption. Contrary to the popular belief, one needs not bribe officials to be incorporated. As a matter of fact, following the proper channels will eliminate instances of corrupt practices.
Security is tight in the country making it safe to do business. Minimal violent crimes are reported each year as the government is doing the best it can to protect its citizens as well as foreign nationals. Religion has been a major issue as the nation is divided into the Muslim North, Christian South and Sectarian. One ought to be cautious on matters religion in this destination. This is because there has been strife for a while now among its various religious groupings.
Fundamentally, one needs to be aware of how to act to avoid being a victim during religious disturbances. Having a friend from the country is a wise move as one is given a guide on how to protect himself. On the other hand, religion should not be the reason for one avoiding business in this lucrative state.
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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