UNDERSTANDING BASIC EXPORT REQUIREMENTS

One of the things that excite many youths in Nigeria is export and import business. Many people wants to start international business by exporting goods out of the country but do not fully understand the what should be done first. I will be glad to clarify the requirements and guide you on how you will obtain them.

Exportation of agricultural products and produces, solid minerals like iron ore, manufactured goods to countries that need them. Nigeria government has been looking for ways to diversify the economic from total dependence on crude oil to other sectors of the economy. You will need to be guided by professionals in order to be successful in export business.

Requirements for export business in Nigeria

Having a corporate company name

To start your adventure in international business, the first thing is to have a functioning corporate company name. You can do that by engaging in the services of lawyers, charted accountants or auditors. This is the first step you need to take. You can visit Nigeria Corporate Affair Commission website to confirm.

Obtain Tax Identification Number (TIN)

Having TIN for your company ensures that you will charge VAT (Value Added Tax) on all your services render within Nigeria. This document will be needed to open corporate accounts with commercial banks. Tax Identification Number is FREE. You can go to any Federal Inland Revenue Service office nearest to the address of your company. You will get it within two weeks of applying for it.

Export License

As a potential exporter you will need to have export license in order to process all the documents needed. The license will be needed by custom service, Central Bank of Nigeria, and inspections agencies. The export license can be obtained from Nigeria Export Promotion Council in Lagos or Abuja. The fees are small to encourage upcoming exporters.

Inspection Agencies Licenses

Some exporting goods need current license of the following agencies: NAFDAC, SON and other agencies.

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