Nigeria

Tax residency in Nigeria is generally triggered by physical presence exceeding 183 days in a calendar year. Foreign income treatment: unknown. No statutory CFC rules apply, which can facilitate the use of foreign holding structures without automatic income attribution.

Largest African economy by GDP. Lagos Africa's largest city and leading fintech hub. Naira devaluation 2023. Pioneer Status tax holiday for qualifying industries. Small businesses <₦100M: 0% CIT. Oil-dependent GDP diversifying. FATF grey list. Japa emigration wave.

The standard corporate income tax rate is 30%. Establishing a legal presence here involves a higher degree of administrative complexity, often requiring local legal assistance.

Banking access in Nigeria is attainable but may require more documentation and time than in simpler jurisdictions. Internet infrastructure is developing. Speed and reliability can vary by location and should be assessed for business-critical operations.

Nigeria is currently on the FATF grey list, indicating enhanced monitoring by the international AML/CFT body. This may affect banking relationships and counterparty due diligence requirements. EU tax blacklist status: not_listed. Structures involving this jurisdiction may attract additional scrutiny or reporting obligations under EU member state rules.

Based on our scoring model, Nigeria ranks highest for Digital Nomad and Freelancer. It offers a reasonable proposition for digital nomad (score: 44/100). It offers a reasonable proposition for freelancer (score: 42/100). It scores lower for digital nomad and freelancer and founder / entrepreneur and high net worth individual, who may find other jurisdictions more suitable for their specific requirements.