Sustainability and accountability are two important pillars of any responsible corporate entity. These pillars place higher premiums on the need for risk management and ensuring adequate compliance with relevant regulations guiding corporate administration and business transactions both locally and globally.
Our team of lawyers provide strategic and innovative solutions to our clients on areas that affect day-to-day business operations ranging from Corporate governance, Regulatory compliance, Company Formation and Joint Ventures, Secretarial Services, Support to in-house legal teams, Nominee Services, General Legal advisory, Due diligence and sustainability reporting.
We are able to obtain the following regulatory approvals on behalf of your Company:
A.Registration with National Office of Technology Acquisition and Promotion (NOTAP):
An agreement involves transfer of technology if its purpose is connected with any of the following matters:
An operational and permanent permit for the local operation of a business with expatriate investment either as a branch or subsidiary of a foreign company or otherwise country. We can assist your Company in obtaining business permit.
the permission given to a business to employ foreigners. The number of the quota depends on the share capital of the company and aminimum share capital of Ten Million Naira is necessary for a company to qualify for expatriate quota.
This registration permits an expatriate to live and work in Nigeria on a long-term basis. For an expatriate to obtain Resident permit, he must obtain employment with a company that has expatriate quota position. Such a person will be expected to come into the country with a special type of entry visa know as STR (Subject To Regularization) visa after which his resident permit will be processed.
The Nigerian Investment Promotion Commission (“NIPC”) was established under the Nigerian Investment Promotion Commission Act, 1995, which provides that any enterprise in which there is foreign participation must be registered with the NIPC. The NIPC Act permits foreigners to own up to 100% of any business enterprise with the exception of enterprises on the “negative list” of the Act. The negative list includes enterprises involved in the production of and dealing in arms, ammunition, narcotic drugs and psychotropic substances.
Investors who wish to be able to remit dividends to non-resident shareholders or repatriate capital on disinvestments must ensure that they obtain a Certificate of Capital Importation from the Nigerian bank through which the payment is transferred into Nigeria.
a foreigner who owns shares in any Nigerian company must apply to the Security and Exchange Commission (SEC) for the registration of those shares this is because the Investment and Securities Decrees of 1999 provides that the SEC must keep a register of foreign direct investment and foreign portfolio investments.
We help foreigners wishing to do business In Nigeria obtain expatriate quota, residential permit and business permit from the Nigerian Immigration Service. We also offer advice on tax holidays. For Nigerians wishing to travel to the United Kingdom who have applied for visa and have been denied same we represent them at the Appeal Panel in the United Kingdom and Nigeria and have vast experience in handling such matters.
We work with Private companies quoted on the Nigerian Stock Exchange to develop their Corporate Governance Framework which will engender robust and sustainable growth in the Company.
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