Requirements for Export Business in Nigeria
Table of Contents
If you have decided to start Export Business in Nigeria. If you are bothered about how to start export business in Nigeria, this post is for you. Here re the Requirements for Export Business in Nigeria. This post is so necessary for exporter start-ups. It spells out all you require to do to start an export business in Nigeria. Therefore, for all of you who wants to export agricultural products like ginger, garlic, cashew nuts, Cocoa Butter, palm oil, etc., this is a must read for you.
As a matter of fact, for Registration of Export Company in Nigeria there re two government agencies vested with power to grant export licence in Nigeria. The responsibility of issuing out export licences for agricultural commodities and manufactured goods is on The Nigeria Export Promotion Council (NPEC). On the other hand, those for extraction industry lies on The Federal Ministry of Solid Minerals Development. But then, there are steps you must follow to get export licence for your export business.
Requirements for Export Business in Nigeria
Legal Requirements for Export Business in Nigeria:
CAC Registration:
Incorporation of Business Name or Company is very vital. This is an initial requirement for an exporter. You must have a business name to trade with. Therefore, the first step when starting as an exporter in Nigeria is to register the name of the export business with Corporate Affairs Commission (CAC). A minimum of two directors and two shareholders is required. Again, is the Certificate of Business Name Registration (for registered business name). In this case, trading as sole proprietorship or partnership, the business name is to be registered as an individual or by two or more individuals as partners or with corporate bodies as partners.
Click here to get details on how we will help you get your business incorporated with CAC Nigeria.
Requirements for Export Business in Nigeria
In addition, connected to the above requirement is that every export business in Nigeria must have a registered office in Nigeria. It’s a prerequisite requirement that every export business in Nigeria must have a registered residential or commercial office. You must not be allowed to float in the air. You must have a basic contact business address.
If you have an old company, click here to see how we will help you make the changes (including business name, directors and registered address, you require on your incorporation documents at CAC, to qualify for your registration as exporter.
Requirements for Export Business in Nigeria
Furthermore, registration with the Nigerian Export Promotion Council (NEPC) is very inevitable. The Nigerian Export Promotion Council (NEPC) was created to enhance and encourage exportation of commodities other than oil/petroleum with ultimate aim of generating revenue through alternative means. Therefore, Nigerian Customs Service rules that every exporter or operating export business in Nigeria must register with NEPC. This registration is important for you to continue in this business.
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Then, comes quality and regulation related documents requirements. These could come from, Standard Organization Nigeria – SON for manufactured products, NAFDAC for Foods and Drugs, NACCIMA – Certificate of origin, as relevant as the case may be.
Requirements for Export Business in Nigeria
In addition, the Nigerian Customs Service also requires duly completed and registration Form NXP from every exporter with authorized dealers (commercial or merchant banks) of their choice, who will be in charge of handling the exporter funds and transactions. That is to say, a Domiciliary Account is required.
A common requirement for any business these days is the presentation of your Tax Clearance Certificates. This among other things indicates that you are duly registered for taxation in a tax authority, this time Nigeria.
Click here to see how we help you render your annual tax returns and obtain your tax clearance certificates.
Requirements for Export Business in Nigeria
Now, you can see that you have cleared the home front requirements. But you need to clear the foreign target business country requirements. One of such requirements is licenses from target foreign country. As a matter of fact, obtaining licenses for trading with a foreign country requires inspection of the products for sale in the target country and permission will only be granted if they meet certain standards as set by the government of that country. Therefore, you must pursue this to a logical conclusion. If they require laboratory test and other quality assurance test, you must meet up with it.
Requirements for Export Business in Nigeria
In continuation, there must be appropriate insurance covers for your goods at every transaction.
NEPC Certificate Services we offer:
- New Registration
- Renewal of Old Certificate
- Replacement of Lost Old Certificate
- Late Renewal of Old Certificate
- Mutilated Old Certificate
- Export Expansion Grant (EEG) Accreditation
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Requirements for Export Business in Nigeria
Finally, Contact Complete Full Marks Consultants Limited for any of these services. Call +234 8034347851 or email through cfmclimited@mail.com.
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Deacon Anekperechi Nworgu, a seasoned economist who transitioned into a chartered accountant, auditor, tax practitioner, and business consultant, brings with him a wealth of industry expertise spanning over 37 years.
