Seeking greener pastures also means finding the right environment especially for Nigerians with the Igbo-man spirit, those driven to build businesses rather than settle for a 9-to-5 job.
For many Nigerians, starting a business abroad opens doors to new opportunities, better access to capital, and a more stable business environment, but choosing the right country is key to success.
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Considering factors like ease of doing business, access to funding, immigration policies, and market potential, here are some of the best countries for Nigerians looking to start a business abroad should relocate to:
1. United Kingdom
The UK has a stable economy, well-structured business regulations, and access to global markets. It also has a large Nigerian diaspora market making it easier to network and find support. The country has favourable policies for startups, including visa programs for entrepreneurs. The Innovator Founder Visa allows entrepreneurs to set up businesses with scalable potential.
2. Canada
Canada is also a top choice for Nigerians looking to start a business abroad, especially in industries like technology, real estate, and healthcare. Canada has business-friendly immigration policies, including the Start-Up Visa Program. The country’s Start-Up Visa Program is designed to attract innovative entrepreneurs, offering a pathway to permanent residency. Additionally, cities like Toronto and Vancouver have thriving business ecosystems that support new ventures.
3. United Arab Emirates (UAE)
Dubai and Abu Dhabi are two of the most popular business hubs in the UAE. It’s great for Nigerian entrepreneurs because there is no personal income tax or corporate tax for many business sectors. It is also a strategic location, making it easy to trade with Africa, Asia, and Europe. Sectors such as trade, real estate, e-commerce, and logistics are particularly lucrative for Nigerian entrepreneurs in the UAE and they allow foreign entrepreneurs to own 100% of their business without needing a local partner.
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4. United States
The U.S. is a land of opportunities for Nigerian entrepreneurs who are looking to scale their businesses internationally. The country is one of the largest consumer markets in the world. Cities like New York, Houston, and Atlanta have large Nigerian communities and offer great networking opportunities. The E-2 Investor Visa and the EB-5 Immigrant Investor Program provide pathways for business owners to establish themselves in the country.
5. Germany
Germany’s residence permit for self-employment makes it easier for business-minded Nigerians to set up and run businesses in sectors like manufacturing, IT, and engineering. The country has a strong economy and is one of the largest markets in Europe. Berlin, in particular, is known for its thriving startup culture and access to European markets.
6. South Africa
For those who prefer to stay within Africa, South Africa is a great option. It is a familiar cultural and business environment that has a strong demand for Nigerian products and services. It has a strong economy, especially in industries like mining, agriculture, retail, and technology. Nigeria and South Africa have strong trade ties, making it easier for Nigerian entrepreneurs to navigate the market.
7. Singapore
Singapore is one of the easiest places in the world to start and run a business. They have low corporate tax rates and a strong financial sector. The country is also a gateway to Asian markets, including China and Indonesia. Singapore is a global business hub and its Entrepreneur Pass (EntrePass) allows foreign entrepreneurs to establish and run businesses in Singapore. Its strategic location makes it ideal for Nigerians looking to expand into Asia.
What Kind Of Business Can One Do In These Countries?
United Kingdom
The UK hosts a substantial number of Nigerian-owned businesses, particularly in London. These enterprises span various industries, including restaurants, grocery stores, fashion boutiques, and tech startups. Notably, areas like Peckham are often referred to as "Little Lagos" due to the concentration of Nigerian enterprises.
United States
The U.S. is home to a vibrant Nigerian entrepreneurial community, with businesses ranging from tech startups to retail establishments. Cities like Houston and Atlanta have significant Nigerian populations, fostering robust business networks.
Canada
Canada has seen a rise in Nigerian-owned businesses, particularly in provinces like Ontario and Alberta. These businesses often operate in sectors such as technology, healthcare, and education.
United Arab Emirates
Nigerian entrepreneurs have a notable presence in the UAE, especially in Dubai. Businesses range from import-export enterprises to real estate and retail outlets.
Germany
Germany hosts a growing number of Nigerian-owned businesses, particularly in cities like Berlin and Frankfurt. These enterprises are often in the tech and engineering sectors.
South Africa
South Africa is home to numerous Nigerian-owned businesses, spanning sectors like retail, entertainment, and professional services.
Singapore
While smaller in number, Nigerian entrepreneurs in Singapore are making inroads, particularly in finance and technology sectors.
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