Any non-Nigerian interested in starting a business in Nigeria is required to first register a business with a minimum share capital of N10,000,000.00 (Ten Million Naira). Then the company on incorporation must apply for Expatriate Quota (EQ), this is because every business that wishes to employ a foreigner is expected to get the Combined Expatriate Residence Permit and Alien Card (CERPAC).
The EQ is an approval granted by the Minister of Interior Affairs to indigenous and foreign-owned companies to allow them to employ foreign employees who legitimately work and live in Nigeria. A business Permit would normally be processed with an EQ in the case of a wholly owned foreign company.
Once the EQ status has been successfully obtained the company then move to process a Subject Regularization (STR) Visa for all its expatriate’s staff. The essence of this application is to allow the staff to obtain the CERPAC which allows them to live and work in Nigeria.
The EQ does not automatically grant CERPAC except that it might serve as a short-term stay during the pendency of an application to renew the CERPAC.