Nigeria is a West African country located on the Gulf of Guinea. It's the most populous country in Africa and boasts 500 different ethnic groups, although the official language is English. While...
Read MoreNigeria is a West African country located on the Gulf of Guinea. It's the most populous country in Africa and boasts 500 different ethnic groups, although the official language is English. While these factors make it a great location for an expansion, you still need to consider all the challenges of establishing a new location in a foreign country.
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Nigeria is a West African country located on the Gulf of Guinea. It’s the most populous country in Africa and boasts 500 different ethnic groups, although the official language is English. While these factors make it a great location for an expansion, you still need to consider all the challenges of establishing a new location in a foreign country.
One of those challenges is payroll. You have to consider your Nigeria payroll options, then set your payroll up to comply with local laws — all on top of running your company. Globalization Partners will make it easier for you to expand through Nigeria payroll outsourcing. We’ll add your employees to our payroll and make sure you can work without worrying about compliance.
Both employees and employers have to worry about taxes. Employees making over 3,000N contribute 2.5% of their wages to the National Housing Fund. The country also has a pension scheme that employers and employees contribute to. Employers pay 10% of employee monthly emolument, and employees contribute at least 8% of monthly emolument.
Companies typically choose from four different payroll options:
Unless you’re working with a global PEO, you can’t set up your Nigeria payroll without first establishing a subsidiary. You won’t need a subsidiary when you work with Globalization Partners because we already have one. We’ll use our existing Nigeria subsidiary to hire employees on your behalf, add them to our locally compliant payroll, and ensure compliance every step of the way.
Adding entitlement and termination terms to all your employment contracts can protect your company in the case of a termination. We recommend doing so before you choose a Nigeria payroll option. Employers have to provide written notice of dismissal and give employees an opportunity for defense. The country does not have any mandatory severance pay.
Globalization Partners envisions a world where all businesses can collaborate across borders, and we’re in place and ready to help. We want to help you expand your company to Nigeria today. Contact us for more information about Nigeria payroll outsourcing and our suite of global expansion services.
If you’re ready to grow your business, or you have questions about a specific country, complete the form. One of our experts will be in touch shortly.
