If you registered a company with CAC as a foreigner, or you have the intention of doing it soon, one of the post-registration compliances you need is the expatriate quota. In this guide, you will discover the cost and requirements for expatriate quota and business permit in Nigeria.
What is a Business Permit and Expatriate Quota in Nigeria?
It is illegal for foreigners to work in a country where they are not citizens. Just as a Nigerian needs a work permit to work in Canada, a Canadian, similarly, needs a work permit to work in Nigeria
A business permit is simply a permit issued by the Nigerian government allowing foreign-owned companies or joint venture partnerships to operate legally in Nigeria
An expatriate quota on the other hand, allows these companies with foreign owners to bring in their foreign staff to work in Nigeria.
The Ministry of Interior is the federal government agency saddled with the responsibility of managing both expatriate and business work permits, enabling foreign companies to hire skilled workers while complying with Nigeria’s immigration laws.
In one of our recent articles on companies with foreign participation in Nigeria, I outlined the steps of getting the company registered with CAC and the best consulting firm to deploy
Today, let’s look at the cost of expatriate quota and business permit in Nigeria and other statutory requirements.
Requirements for Expatriate Quota and Business Permit in Nigeria
The process of securing an expatriate quota in Nigeria is not as complex as people tend to think. Below are some of the requirements you need
- Certificate of Incorporation with CAC
- Memorandum and Articles of Association clearly showing the company’s objects and share structure/ownership
- CAC Status Report showing
- Verifiable registered address of the company
- Tax Clearance certificate with FIRS
- Evidence of Registration With Tax Promax
- Evidence of Capital importation
- Business plan
- Business permit document
- A reference letter from any bank in Nigeria
- Proposed salary structure for employees
- Joint venture agreement (If the company is a joint venture)
- Other specialized industry licences in which the company operates
- EFCC SCUML Certificate and AML/CFT manual
Cost of Expatriate Quota and Business Permit in Nigeria
The cost of obtaining these permits has increased recently. Below are the business permit and expatriate quota charges in Nigeria
- Business permit for company statutory fee is ₦1,000,000
- The expatriate quota statutory fee for companies is ₦1,500,000 (per quota)
- Professional legal and consulting fees, which vary based on the consultant you are working with
Renewal Costs for Business Permit and Expatriate Quota in Nigeria
The business permit and expatriate quota are supposed to be renewed
The renewal fee for an Expatriate Quota in Nigeria is ₦50,000 per quota. Other fees include an inspection fee, which ranges from ₦45,000 to ₦150,000 depending on the location and travel requirements
There are also professional, legal and consulting fees for the renewal, which vary depending on the consultant handling the job.
For the Expatriate quota, the renewal fee is ₦500,000.
In Nigeria, a business permit is initially granted for 2 years and is renewable biannually for two consecutive terms within a total lifespan of 7 years.
According to KPMG, the Expatriate quota in Nigeria is valid for 3 years. It can be renewed for further periods of 2 years each.
The maximum validity period for an expatriate quota, including renewals, is 10 years. After that, the position may be reviewed or the quota may be revalidated
How Long Does It Take to Get a Business Permit or Expatriate Quota?
The process of obtaining a business permit and expatriate quota in Nigeria usually takes about 2 to 3 months, depending on the nature of the company and the complexity of the job.
Expatriate Quota and Business Permit Consultant in Nigeria
It is highly recommended to secure the services of an experienced consultant with years of experience in corporate law and industry registrations.
Legacy Benjamin Consult remains one of the best consulting firms you can trust to process not just your business permit and expatriate quota but your CAC registration as well.
Send us a DM on WhatsApp @ 08066108299 to get started
FAQs on Applying for Business Permit and Expatriate Quota in Nigeria
Q: What is the cost of obtaining an expatriate quota in Nigeria?
A: The cost of 1 quota in Nigeria is ₦1,500,000. 2 quotas will be ₦3,000,000 and vice versa
Q: How much does a business permit cost in Nigeria?
A: The current statutory cost for a business permit in Nigeria is ₦1,000,000
Q: Are there additional hidden fees when applying for an expatriate quota?
A: Yes. You will incur professional, legal fees and other contingency fees.
Q: Can a Nigerian company apply for an expatriate quota?
A: No. The expatriate quota is only required for foreigners who want to operate a company in Nigeria.
Q: How long does it take to get a business permit and expatriate quota in Nigeria?
A: The process can take from 4 to 10 weeks
Q: Is the Expatriate quota a one-time payment?
A: No. It is subject to renewal every 2–3 years.
Q: Do I need both a business permit and an expatriate quota?
A: Yes. Companies with foreign participation must obtain both
Q: Which agency in Nigeria issues the expatriate quota and business permit?
A: The Ministry of Interior is responsible for both.
Q: Can I apply for the expatriate quota without using a consultant?
A: No. Due to the complexity of documentation and regulatory compliance, most companies prefer to use an expert in that field for this. Legacy Benjamin Consult remains the best firm for the job.
Employ our services by sending us a DM on WhatsApp 08066108299
You can check our recent article on securing a logistics license in Nigeria
Conclusion:
If you are looking forward to having a company with foreign participation in Nigeria, I hope this guide has provided an in-depth knowledge of application fees, costs and all requirements you need for your expatriate quota and business permit in Nigeria
