GRANT OF BUSINESS PERMIT/EXPATRIATE QUOTATION
All applications by companies for Business Permit and expatriate Quota should be accompanied by the following documents:
(A) BUSINESS PERMIT
For only Joint Venture and wholly Foreign owned Companies.
(i) Completed Immigration Form T/I;
(ii) Certificate of Incorporation;
(iii) Memorandum and Article of Association;
(iv) Feasibility Report (should be certified or registered with Corporate Affairs Commission (CAC)
(v) Corporate Affairs Commission’s Form CAC2.3 & 2.5 OR CAC C02 & C07
(vi) JOINT Venture Agreement for partnership venture between Nigerian and foreigners (original to be presented for sighting);
(vii) Company’s Current Tax Clearance Certificate (Original to be presented for sighting);
(viii) Lease agreement for C of O for operating premises (original to be presented for sighting).
NOTE: For Business permit, the Authorized share capital must not be less than N10 Million in respect of each company.


(B) GRANT OF EXPATRIATE QUOTATION ONLY
Same document as in (a) above plus:
(i) Evidence of imported machinery, such as. Form M, Proforma invoice. Shipping documents and Clean Certificate of Inspection issued by Government appointed Pre-shipping Inspection Agents.
(ii) License/permit/Certificate from relevant Government Agencies/department/Ministries for operation or execution of project if company is engaged in oil services. Health care services, fishing, mining, constructions (Work Registration Board), etc (original to be presented for sighting);
(iii) Evidence of work at hand. Its duration and value attached to the contract(s) if the company is engaged in building, civil engineering, construction, etc (original to be presented for sighting);
(iv) Proposed annual salaries to be paid to the expatriates to be recruited indicating designation, names. Jobs description and qualifications (CV and copies of credentials of expatriate to be attached).

(C) RENEWAL OF EXPATRIATES QUOTA
(i) Completed Immigration Form T2,
(ii) Corporate Tax Clearance Certificate (Original to be presented for sighting);
(iii) Current Tax Clearance of the Expatriates (originals to be presented for sighting);
(iv) Expatriate Quota Returns for the three months preceding the date of approval:
(v) Detailed Training programme for Nigerians;
(vi) List of Nigerians understudying expatriate on prescribed format showing date employed, qualification, etc;
(vii) List of Nigerian Senior/Management Staff showing names, designations, qualifications, salaries per annum:
(viii) Certified Current Audited Accounts: and
(ix) Annual income tax Clearance Certificate of the Expatriate staff (original to be presented for sighting):

(D) ADDITIONAL EXPATRIATE QUOTA
Same documents as for renewal of expatriate quota plus:
(i) Evidence of acquired machinery or expansion if company is engaged in manufacturing in the form of Clean Certificate of inspection (CCI) issued by Government appointed Pre shipping inspection Agents;
(ii) Evidence of new contract if Company is engaged in constructions/Engineering and oil (original to be presented for Sighting) see b (ii) for guidance;
(iii) Evidence of acquired farm factory if Company is engaged in agro-allied business (original to be presented for sighting).

(E) RESTORATION OF QUOTA
In applying for restoration, there must be reason and proof for the reactivation and revitalizing the company i.e. previously depressed economy, increased demand for the Company’s product/services and acquisition of new machinery i.e Clean Certificate of Inspection (CCI) issued by Government appointed Pre-shipping inspection AGENTS.
(F) RE DESIGNATION OF QUOTA
In case where a Company has difficulty in filling owing to exigency of Operations. It is at liberty to apply for the re-designation of the affected position and this will be considered purely on its own merit.
(G) PERMANENT UNTIL REVIEWED QUOTA – (P.U.R)
The main reason for the granting of P.U.R quota slot for which a Certificate would be issued is to enable the foreign subscriber(s) adequately protect their interest and to give them a sense of greater commitment. The criteria and documents required for P.U.R are:
(i) Minimum share capital should be N10 million
(ii) Appreciable net profit of which not less than N2 million has been paid as Corporate Tax (original to be presented for sighting);
(iii) Certified and Detailed Audited Account;
(iv) Certified of Incorporation
(v) Monthly Return of Expatriate Quota;
(vi) Company organization Structure; and
(vii) Individual Income tax Clearance Certificate of the expatriates (original to be presented for sighting).
Note: Other factors that would also be considered when considering P.U.R request include: (i) political/policy direction of Government: (ii) company’s area of business to fall within priority sectors of the economy: (iii) Evidence that P.U.R would guarantee Technology transfer: and (iv) Company should have large quota portfolio and Corresponding share holding as an added qualification.

(H) QUOTA FOR INDIGENOUS COMPANY (FULLY – OWNED BY NIGERIANS
Same documents as in (b) above except Joint Venture Agreement

(I) WHOLLY-OWNED FOREIGN COMPANY
(i) Same documents as in (a) & (b) above except Joint Venture Agreement
(ii) Share Capital must not be less than N10 Million.

(J) AMENDMENT OF BUSINESS PERMIT
(i) Board Resolution on the changes in either the composition of the Board of directors, location of business or line of activities duly registered with Corporate Affairs Commission;
(ii) Extract of Minute of Board of Directors Meeting showing decision taken and attendance.
(iii) Evidence of resignation/Appointment of Directors (old & new) where applicable; and
(iv) Company Current Tax Clearance Certificate (original to be presented for sighting).
Note: Board Resolution should indicate names of Directors present at the meeting and must be fully signed by the Chairman and Company Secretary.

(K) FEES PAYABLE FOR SERVICES RENDERED
From time to time, fees payable for services rendered are subject to review. The currently reviewed fees are as follows:-
N
(i) Processing fees - 25,000
(ii) Grant of Establishment
Quota (Per Slot) - 10,000
(iii) Renewal of Quota Position (Per Slot) 5,000
(iv) Additional Quota (Per Slot) 10,000
(v) Stay of Action 5,000
(vi) Grant of Business Permit 50,000
(vii) Amendment of business permit 25,000
(viii) Regrading of quota (per slot) 10,000
(ix) Appeal Processing fee 10,000
(x) Restoration of Lapsed quota 55,000
(xi) Upgrading of quota to P.U.R per slot $10,000
(xii) Re designation of P.U.R Slot $10,000
(GM to MD or MD to GM etc)
(xiii) Re tagging Extension of Quota
(per Slot) 10,000
(xiv) Re-validation of Lapsed quota per slot 10,000
(xv) Penalty for late submission of renewal of private license 150,000
(xvi) Automation/Migration fee 150,000
Compulsory for existing Company
(xvii) Automation - 51,000

For more information visit: www.dripnigeria.com or call 07069279374.