🌍 Introduction: Why Foreigners Need a Business Permit in Nigeria

(Spoiler: It’s Not Just Bureaucracy, It’s the Law)

Nigeria is Africa’s largest economy and a magnet for foreign direct investment. But before you can set up shop and start raking in naira, the Nigerian government requires one key thing: a Business Permit. This legal authorization allows non-Nigerians to invest, operate, and manage a company in Nigeria.

If you’re a foreigner looking to start or invest in a Nigerian business, this permit is your first step toward compliance and credibility.

✅ Eligibility Criteria for Foreign Investors

(Can You Apply or Should You Call Your Lawyer?)

To be eligible to apply for a Business Permit, you must:

• Be a non-Nigerian individual or corporate entity
  
• Register your business with the Corporate Affairs Commission (CAC)
  
• Have a minimum share capital of ₦100 million, as per the 2023 regulation update
  
• Operate in a sector open to foreign participation (no-go zones include military and paramilitary sectors)
  

📄 Documents Required for Business Permit Application

(Your “Don’t Get Rejected” Paperwork List)

Before applying to the Federal Ministry of Interior, ensure you have the following ready:

• Certificate of Incorporation (CAC)
  
• Certified True Copies of Memorandum & Articles of Association
  
• Proof of minimum ₦100M share capital (CAC Form showing authorized share capital)
  
• Capital Importation Certificate (issued by CBN via your bank)
  
• Valid passports & biodata pages of foreign directors/shareholders
  
• Detailed business plan or feasibility study
  
• Lease or ownership agreement for Nigerian business office
  
• Board resolution to conduct business in Nigeria
  
• Evidence of registration with NIPC (if applicable)
  

🧾 Pro Tip: You can bundle your Business Permit with the Expatriate Quota application to save time.

🛠️ Step-by-Step Process of Getting Your Business Permit

(Relax, It’s Easier Than You Think)

Step 1: Incorporate Your Company with CAC

• Register a company with at least ₦100M share capital
  
• 100% foreign ownership is allowed (except in restricted sectors)
  

Step 2: Apply for Capital Importation Certificate

• Import your startup capital through an authorized Nigerian bank
  
• Obtain Certificate of Capital Importation from your bank (approved by CBN)
  

Step 3: Prepare & Submit Application

• Submit your application to the Federal Ministry of Interior via their online portal or through a legal consultant
  

Step 4: Review and Inspection

• Ministry may inspect your physical office
  
• Further documents may be requested
  

Step 5: Business Permit Approval

• If all documents check out, your Business Permit will be issued
  

⏳ Processing Time: 4–6 weeks on average

💵 Business Permit Fees & Timelines (2025 Update)

📞 Need Help Fast? We offer express filing support for foreign investors.

🚫 Common Mistakes to Avoid

(Learn From Others, Not the Hard Way)

• Submitting incomplete or unverified documents
  
• Ignoring the new ₦100M share capital rule
  
• Operating without the Business Permit
  
• Not applying for Expatriate Quota alongside
  
• Forgetting NIPC registration for investment incentives
  

🎁 Benefits of Having a Business Permit

(Besides Staying Out of Trouble, Obviously)

• Legal recognition for your business activities
  
• Right to bring in foreign staff (via Expatriate Quota)
  
• Access to Nigerian financial, tax, and investment systems
  
• Ability to obtain Tax Identification Number (TIN) and pay CIT
  
• Improved credibility with banks, partners, and regulators
  

❓ Frequently Asked Questions (FAQs)

Q1: Is the ₦100 million share capital mandatory for all foreigners?

Yes, as of the 2023 CAMA amendment, any company with foreign participation must have at least ₦100M share capital.

Q2: Can I apply for a Business Permit and Expatriate Quota together?

Absolutely. It’s recommended to process both concurrently.

Q3: Can I operate without a Business Permit if my partner is Nigerian?

If there’s any foreign participation, a Business Permit is required.

Q4: How long does it take to get the Business Permit?

Typically 4 to 6 weeks, depending on document readiness and ministry workload.

Q5: What is the difference between a Business Permit and NIPC registration?

Business Permit is from the Ministry of Interior (for legal operation), while NIPC registration enables access to investment incentives.

🎯 Call to Action: Let’s Get That Permit for You

Don’t stress over paperwork and red tape. Our expert regulatory compliance team will:

• ✅ Register your company with CAC
  
• ✅ Handle capital importation & CCI
  
• ✅ Apply for your Business Permit & Expatriate Quota
  
• ✅ Keep you 100% compliant
  

📞 Book a free consultation today and launch your Nigerian venture the smart way.