Establishing a Legal Business Presence in Nigeria : A Comprehensive Guide
- The Trade Adviser
- Jun 20, 2024
- 1 min read
Updated: Jun 5
Let's outline the essential steps involved in establishing a legal business presence in Nigeria. The process involves several key stages and requires careful attention to ensure compliance with Nigerian regulations.
A. Choosing Your Business Structure
1. Subsidiary Company
Concept: A separate legal entity incorporated in Nigeria but owned (partially or wholly) by a foreign parent company. Offers limited liability, meaning the parent company's liability is generally restricted to its investment in the subsidiary.
Advantages:
Limited liability for the parent company.
Independent legal status allowing for a wide range of commercial activities.
Potential tax and investment incentives for foreign-owned businesses.
Disadvantages:
More complex setup process compared to some other options.
Ongoing compliance requirements and administrative expenses.
