{"id":496,"date":"2024-02-15T09:37:35","date_gmt":"2024-02-15T09:37:35","guid":{"rendered":"https:\/\/kaninvest.kn.gov.ng\/?page_id=496"},"modified":"2024-03-22T02:46:08","modified_gmt":"2024-03-22T02:46:08","slug":"investment-procedures-2","status":"publish","type":"page","link":"https:\/\/kaninvest.kn.gov.ng\/?page_id=496","title":{"rendered":"Investment Procedures"},"content":{"rendered":"<p>[et_pb_section fb_built=&#8221;1&#8243; _builder_version=&#8221;4.24.2&#8243; _module_preset=&#8221;default&#8221; use_background_color_gradient=&#8221;on&#8221; background_color_gradient_stops=&#8221;rgba(255,255,255,0) 0%|#242424 99%&#8221; background_color_gradient_overlays_image=&#8221;on&#8221; background_image=&#8221;https:\/\/kaninvest.kn.gov.ng\/wp-content\/uploads\/2024\/03\/stephen-dawson-qwtCeJ5cLYs-unsplash.jpg&#8221; background_position=&#8221;top_right&#8221; background_vertical_offset=&#8221;80%&#8221; height=&#8221;50vh&#8221; custom_padding=&#8221;170px|||||&#8221; bottom_divider_color=&#8221;#189C08&#8243; hover_enabled=&#8221;0&#8243; global_colors_info=&#8221;{}&#8221; title_text=&#8221;stephen-dawson-qwtCeJ5cLYs-unsplash&#8221; sticky_enabled=&#8221;0&#8243;][et_pb_row _builder_version=&#8221;4.24.2&#8243; _module_preset=&#8221;default&#8221; border_color_left=&#8221;#E02B20&#8243; border_style_left=&#8221;outset&#8221; global_colors_info=&#8221;{}&#8221;][et_pb_column type=&#8221;4_4&#8243; _builder_version=&#8221;4.24.0&#8243; _module_preset=&#8221;default&#8221; global_colors_info=&#8221;{}&#8221;][et_pb_text _builder_version=&#8221;4.24.2&#8243; _module_preset=&#8221;default&#8221; header_text_align=&#8221;left&#8221; header_text_color=&#8221;#FFFFFF&#8221; header_font_size=&#8221;50px&#8221; custom_padding=&#8221;|||20px|false|false&#8221; border_width_left=&#8221;14px&#8221; border_color_left=&#8221;#189C08&#8243; global_colors_info=&#8221;{}&#8221;]<\/p>\n<h1>Investment Procedures<\/h1>\n<p>[\/et_pb_text][\/et_pb_column][\/et_pb_row][\/et_pb_section][et_pb_section fb_built=&#8221;1&#8243; _builder_version=&#8221;4.24.0&#8243; _module_preset=&#8221;default&#8221; global_colors_info=&#8221;{}&#8221;][et_pb_row column_structure=&#8221;1_2,1_2&#8243; _builder_version=&#8221;4.24.0&#8243; _module_preset=&#8221;default&#8221; global_colors_info=&#8221;{}&#8221;][et_pb_column type=&#8221;1_2&#8243; _builder_version=&#8221;4.24.0&#8243; _module_preset=&#8221;default&#8221; global_colors_info=&#8221;{}&#8221;][et_pb_heading title=&#8221;Investment Certificate Registration&#8221; _builder_version=&#8221;4.24.2&#8243; _module_preset=&#8221;default&#8221; title_font=&#8221;||||||||&#8221; title_text_align=&#8221;left&#8221; title_text_color=&#8221;#000000&#8243; title_font_size=&#8221;51px&#8221; hover_enabled=&#8221;0&#8243; global_colors_info=&#8221;{}&#8221; sticky_enabled=&#8221;0&#8243;][\/et_pb_heading][et_pb_text _builder_version=&#8221;4.24.2&#8243; _module_preset=&#8221;default&#8221; text_font=&#8221;||||||||&#8221; text_text_color=&#8221;#000000&#8243; text_font_size=&#8221;17px&#8221; hover_enabled=&#8221;0&#8243; global_colors_info=&#8221;{}&#8221; sticky_enabled=&#8221;0&#8243;]<\/p>\n<p><span style=\"font-weight: 400;\">All foreign investors looking to establish a business in Kano State must first obtain an Investment Certificate from the Kano State Investment Agency and Diaspora (KanInvest). The minimum capital requirement is an investment sum of at least <\/span><span style=\"font-weight: 400;\">US$ 50,000<\/span><\/p>\n<p><span style=\"font-weight: 400;\">To apply for the certificate, the following documents must be submitted to KanInvest for review:<\/span><\/p>\n<p><span style=\"font-weight: 400;\"><\/span><\/p>\n<ul>\n<li style=\"list-style-type: none;\">\n<ul>\n<li><span style=\"font-weight: 400;\">Investment Certificate Application Form\u00a0<\/span><\/li>\n<li><span style=\"font-weight: 400;\">Comprehensive Business Plan<\/span><\/li>\n<li><span style=\"font-weight: 400;\"><\/span><span style=\"font-weight: 400;\">Certificate of Incorporation\u00a0\u00a0<\/span><\/li>\n<li><span style=\"font-weight: 400;\"><\/span><span style=\"font-weight: 400;\">Memorandum and Articles of Association<\/span><\/li>\n<li><span style=\"font-weight: 400;\"><\/span><span style=\"font-weight: 400;\">Passport Bio-Data Pages for Shareholders<\/span><\/li>\n<li><span style=\"font-weight: 400;\"><\/span><span style=\"font-weight: 400;\">Summary of Positions Requiring Foreign Personnel<\/span><\/li>\n<li><span style=\"font-weight: 400;\"><\/span><span style=\"font-weight: 400;\">Project Description for Environmental Impact Assessment<\/span><span style=\"font-weight: 400;\"><\/span><\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">A non-refundable application fee of <i>US$ 200<\/i> and issuance fee of <i>US$ 800<\/i> apply. Payment is in US$ Cash or it\u2019s equivalent in Naira.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">KanInvest&#8217;s Internal Approval Committee evaluates applications and aims to issue Investment Certificates within 7-10 working days upon submission of complete documentation.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">After obtaining the certificate, KanInvest also assists investors with additional licensing, permits and approvals required before full business operations commence based on the specific industry and projects.<\/span><\/p>\n<p>[\/et_pb_text][\/et_pb_column][et_pb_column type=&#8221;1_2&#8243; _builder_version=&#8221;4.24.0&#8243; _module_preset=&#8221;default&#8221; global_colors_info=&#8221;{}&#8221;][et_pb_heading title=&#8221;Business Residence Permit (BRP)&#8221; _builder_version=&#8221;4.24.2&#8243; _module_preset=&#8221;default&#8221; title_font=&#8221;||||||||&#8221; title_font_size=&#8221;26px&#8221; hover_enabled=&#8221;0&#8243; global_colors_info=&#8221;{}&#8221; title_level=&#8221;h2&#8243; title_text_color=&#8221;#119933&#8243; sticky_enabled=&#8221;0&#8243;][\/et_pb_heading][et_pb_text _builder_version=&#8221;4.24.2&#8243; _module_preset=&#8221;default&#8221; text_font=&#8221;||||||||&#8221; text_text_color=&#8221;#000000&#8243; text_font_size=&#8221;17px&#8221; hover_enabled=&#8221;0&#8243; global_colors_info=&#8221;{}&#8221; sticky_enabled=&#8221;0&#8243;]<\/p>\n<p><span style=\"font-weight: 400;\">After acquiring their investment certificate, investors are required to get a Business Residence Permit (BRP) that would allow him\/her to stay in the country to carry out his\/her business operations.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Below are key documents needed to apply for a BRP:\u00a0<\/span><\/p>\n<ul>\n<li style=\"list-style-type: none;\">\n<ul>\n<li><span style=\"font-weight: 400;\">Fully completed BRP Application Forms<\/span><\/li>\n<li><span style=\"font-weight: 400;\">Police Clearance Report \u00a0 <\/span><\/li>\n<li><span style=\"font-weight: 400;\">Detailed Business Plan\u00a0<\/span><\/li>\n<li><span style=\"font-weight: 400;\">Proof of US$ 50,000 Capital Importation into Nigeria<\/span><\/li>\n<li><span style=\"font-weight: 400;\">Bank Statements Reflecting Required Minimum Capital<\/span><\/li>\n<li><span style=\"font-weight: 400;\">Copy of Investment Certificate<\/span><\/li>\n<li><span style=\"font-weight: 400;\">International Passport Bio-Data Page<\/span><\/li>\n<li><span style=\"font-weight: 400;\">Cover Letter from Applicant<\/span><\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">A non-refundable processing fee of <\/span><span style=\"font-weight: 400;\">25,000 Naira<\/span><span style=\"font-weight: 400;\"> and issuance fee <\/span><span style=\"font-weight: 400;\">of 150,000 Naira apply<\/span><span style=\"font-weight: 400;\">. With all materials submitted and recommended, BRP endorsements into passports generally require 7-10 working days.\u00a0\u00a0<\/span><span style=\"font-weight: 400;\"><\/span><\/p>\n<p>[\/et_pb_text][et_pb_heading title=&#8221;Temporary Work Permits&#8221; _builder_version=&#8221;4.24.2&#8243; _module_preset=&#8221;default&#8221; title_font=&#8221;||||||||&#8221; title_text_color=&#8221;#119933&#8243; title_font_size=&#8221;26px&#8221; hover_enabled=&#8221;0&#8243; global_colors_info=&#8221;{}&#8221; title_level=&#8221;h2&#8243; sticky_enabled=&#8221;0&#8243;][\/et_pb_heading][et_pb_text _builder_version=&#8221;4.24.0&#8243; _module_preset=&#8221;default&#8221; text_font=&#8221;Open Sans||||||||&#8221; text_text_color=&#8221;#000000&#8243; text_font_size=&#8221;17px&#8221; global_colors_info=&#8221;{}&#8221;]<\/p>\n<p><span style=\"font-weight: 400;\">Where foreign expertise is essential for smooth operations, companies can apply for Temporary Work Permits (TWPs) valid between 1-3 years. Renewals may be granted up to 6 years for qualifying skilled personnel.\u00a0<\/span><span style=\"font-weight: 400;\"><\/span><\/p>\n<p><span style=\"font-weight: 400;\">The TWP application to KanInvest demands submission of the forms, letters, documentation as listed above for BRPs, with additional requirements including proof of local understudy training and succession planning for knowledge transfers. Companies pay a non-refundable TWP processing fee of 25,000 Naira and issuance fee of 150,000 Naira.<\/span><span style=\"font-weight: 400;\"><\/span><span style=\"font-weight: 400;\"><\/span><\/p>\n<p><span style=\"font-weight: 400;\"><\/span><\/p>\n<p>[\/et_pb_text][\/et_pb_column][\/et_pb_row][\/et_pb_section]<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Investment ProceduresAll foreign investors looking to establish a business in Kano State must first obtain an Investment Certificate from the Kano State Investment Agency and Diaspora (KanInvest). The minimum capital requirement is an investment sum of at least US$ 50,000 To apply for the certificate, the following documents must be submitted to KanInvest for review: [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"_et_pb_use_builder":"on","_et_pb_old_content":"<!-- wp:divi\/placeholder \/-->","_et_gb_content_width":"","footnotes":""},"class_list":["post-496","page","type-page","status-publish","hentry"],"_links":{"self":[{"href":"https:\/\/kaninvest.kn.gov.ng\/index.php?rest_route=\/wp\/v2\/pages\/496","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/kaninvest.kn.gov.ng\/index.php?rest_route=\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/kaninvest.kn.gov.ng\/index.php?rest_route=\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/kaninvest.kn.gov.ng\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/kaninvest.kn.gov.ng\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=496"}],"version-history":[{"count":15,"href":"https:\/\/kaninvest.kn.gov.ng\/index.php?rest_route=\/wp\/v2\/pages\/496\/revisions"}],"predecessor-version":[{"id":1448,"href":"https:\/\/kaninvest.kn.gov.ng\/index.php?rest_route=\/wp\/v2\/pages\/496\/revisions\/1448"}],"wp:attachment":[{"href":"https:\/\/kaninvest.kn.gov.ng\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=496"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}