1. Sourcing of partners and shareholders: Determining the perspective shareholdings in the proposed company, choosing a company name; determining the initial authorized share capital and agreement on company's main objectives.
2. Preparation of a joint venture agreement: This agreement is between the perspective shareholders. This is not necessary if foreigners will own the company 100%.
3. Preparation of memorandum and articles of association: At this point a foreign shareholder would have to grant power of attorney to a solicitor in Nigeria.
4. Conducting a search at the corporate affairs commission: This helps to find out if the company's name is available. if available should be reserved and formalities dealt with until the firm is registered.
5. Obtain a tax clearance certificate for the newly registered company: This wil really help you in terms of taxation matters.
6. Importation of foreign equity holding of the company: This means the involvement foreign partnership.
7. Apply to the federal ministry of finance: This will helps in the financial approval status to be conferred on the non-resident capital imported by the foreign shareholders, such application must be accompanied by the Central Bank of Nigeria(CBN) and Certificate of capital importation, Certificate of incorporation and a copy of the memorandum and articles of association.
No comments:
Post a Comment