… Investor visa fees begins from $250, 000 for Small Scale investor to $100 million for oil, gas and power investors
By Audrey Lotechukwu
FRI, 02 OCT, 2020-theGBJournal-The Nigerian Immigration Service (NIS) today unveiled a new visa policy (NVP 2020) with fresh interesting features, after it received the Federal Government approval. The new policy takes effect from October 1, 2020.
The NVP 2020 introduces special visas for Diaspora Nigerians by birth with dual citizenship to enable them make use of the passports of other nations to visit Nigeria.
The Minister of Interior, Ogbeni Rauf Aregbesola said, the NVP 2020 aims to support the attainment of the Economic Recovery and Growth Plan (2017-2020) and the adoption of Security, Economy and Transparency (SET), as the thrust of the Federal Government Policy on ERGP of Nigeria.
‘’Its operationalisation is cardinal to the ease of doing business in Nigeria, boosting tourism and expanding opportunities to meaningfully apply the principle of reciprocity in visa policy in our bilateral and multilateral relations,’’ he said.
Other features of the new policy include the introduction of three categories of visas known as the Short Visit Visas, Temporary Residence visas and Permanent Resident visas. It also includes the expansion of the visa classes from 6 to 79,
Short Visit Visas has 28 classes while the temporary Residence visas comes with 36 classes and the Permanent Resident visas have 15 classes.
Citizens of 14 ECOWAS countries do not need to acquire a Nigerian visa to enter the country based on ECOWAS Free Movement Protocol. They only have to have valid travel document, they must enter through valid entry point, must have means of sustenance while in the country, must not be in the category of prohibited immigrants, free entry for maximum of 90 days is not valid for employment and residence permit must be obtained to get employment or establish business.
Cititzens of Cameroon and Chad are also allowed to travel into the country without visa based on bilateral agreement and certain entry requirement.
The new policy provides for Investor visa, issued to Small Enterprise investors, the Investor Visa N3A. Eligibility for the visa requires evidence of $250, 000 to $500, 000 as importation and retention of investors’ capital and documentary proof of investment in Nigeria among others. It is valid for not more than 90 days from date of issuance.
The Investor Visa N3B (Medium Scale Enterprise) requires evidence of $500,000 to $1 million as as importation and retention of investors’ capital. The Investor Visa N3C (Large Scale Corporation) requires evidence of $1 million to $10 million as importation and retention of investors’ capital. The Ultra Large Scale Corporation is required to show evidence of $10 million and above as importation and retention of investors’ capital. The eligibility fees for oil. Gas and power investor is $100 million.
See attached for updated visa fee charge for all countries
UPDATED-VISA-FEES-CHART-FOR-ALL-COUNTRIES-2 (1)
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