If you live in Nigeria, you will agree with the fact that the increasing inflation rate and the unstable foreign exchange policy within the country, has created the need for individuals and businesses to explore the possibility of earning in other currencies. Home to individuals with diverse backgrounds, the United States remains a popular country of choice when it comes to doing business in other countries. As a business owner in Nigeria, a better way of staying ahead of unstable FOREX policies and receiving dollar payments with ease is to register a company in the US (United States) and set...

Below is a conversation we had with a prospect few hours ago that inspired this blog post. Client : “Hello Barrister” Lawyer:  “Hi Mr K” Client: “I’m having difficulties setting up my corporate account at the bank because one of the directors of the company doesn’t live in Nigeria and we are finding it difficult processing his Bank Verification Number (BVN). However, we’ve been told that the other alternative available is to have the director who stays in the United States removed from the company. Can your firm help us with this?” Lawyer: Yes, we can. When was the company...

INTRODUCTION No doubt, the buying and selling of foreign currency is a booming sector in the Nigerian economy and Bureau de Change (BDC) plays a significant role in the foreign exchange chain. Other players include; The Central Bank – the regulator Corporations Commercial and Investment Banks Internet based trading platforms Online retail brokers Foreign exchange simply entails the buying and selling of two difference currencies in the financial market. A Bureau de Change simply means a place where one foreign currency can be traded for another through a broker. The operation of a Bureau de Change is regulated in Nigeria...

As a law firm, a frequent question we receive from our client’s looking to incorporate their company in Nigeria is; “What are the requirements for registering/incorporating my company”. In this article, we would be discussing this in detail. Apart from a company, there are other types of business entities a person can register such as; Sole Proprietorship, General Partnership, Limited Liability Partnership, etc. However, since the focus is on companies, below are the requirements you are expected to make available should you opt for incorporating a company. 1. Proposed names of the company for reservation (a minimum of two) 2....