Nigeria Business Formation

International entrepreneurs are discouraged from investing in Nigeria because of its reputation as a difficult place to do business. Any successful Nigeria business formation plan requires in-depth local knowledge. Healy Consultants' knowledge of the country is invaluable to those considering investing in Nigeria. We offer a comprehensive Nigeria business formation service tailored to the exact requirements of those investing in Nigeria. The following information will help you determine whether Nigeria business formation meets your business objectives:
Advantages of Nigeria business formation and investing in Nigeria
1.	Nigeria business formation is a legitimate way to tap opportunities in Nigeria and other West African markets.
2.	Nigeria's population of 132 million and abundant natural resources present major opportunities for investors considering Nigeria business formation.
3.	Export processing zones offer incentives to foreign investors planning Nigeria business formation, including:
	(i) Tax exemption from all Federal, State and Local Government taxes, rates, customs duties and levies for those investing in Nigeria;
	(ii) 100% foreign ownership for those investing in Nigeria;
	(iii) Duty-free import of raw materials for finished goods destined for re-export after investing in Nigeria;
	(iv) No restrictions on capital remittances after investing in Nigeria;
	(v) No restriction on hiring expatriate labour;
	(vi) Rent-free land during the first six months of construction for entrepreneurs investing in Nigeria.
	For more information on investing in Nigeria, visit the Nigeria Export Processing Zones Authority website.
4.	Nigeria business formation permits 100% foreign ownership.
5.	The minimum capital requirement for Nigeria business formation is 100,000 naira (US$850).
6.	To support Nigeria business formation, the country has double taxation treaties with the UK, France, the Netherlands, Belgium and several other countries.
Disadvantages of Nigeria business formation and investing in Nigeria
1.	Nigeria is politically and economically unstable, which discourages Nigeria business formation.
2.	The World Bank and US-based Heritage Foundation rank Nigeria as 125th and 106th respestively in terms of easiness of business and freedom of economy. (View the World Bank survey and the 2010 Index of Economic Freedom).
3.	Nigeria is negatively ranked as the world’s 143th least corrupt country in the 2011 Corruption Perceptions Index by Transparency International, a global measure of corruption amongst public officials and politicians. This alone has discouraged many investors from incorporating a Nigeria company.
4.	Nigeria business formation is time consuming and complex.
5.	A Nigerian business must be formed with a minimum two shareholders and directors.
6.	After investing in Nigeria, a business is liable to pay corporate profits tax of 30% on global income. Company dividends are taxed at 10%.
7.	After investing in Nigeria, all foreign-owned companies must have their financial statements audited annually.
Contact Us For more information on Nigeria business formation, email email@healyconsultants.com or call (+65) 6735 0120. Back to Nigeria Company Formation page.

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