Hello world, last week, we shared an article on doing business in Cameroon, sharing from World Bank findings about the progress being made by the country as a whole to improve its global rankings. One of the main issues to address when looking at doing business in Cameroon involves finding out exactly how to start that business and get it going.
Less than a decade ago, starting a business in Cameroon was nothing short of a daunting task with several loolpholes. Although professional help has always been available to assist with the processes for clients who can afford, such services are normally expensive especially when they span over a longer period of time than anticipated.
To this extent, the current legislation in Cameroon has successfully reduced the registration period of new businesses to a maximum of 8 days. Supporting documents for business registration purposes can be easily put together with the help of counsel or business consultant in less than 5 working days. According the world Bank data collenction for this purpose of informing the public/potential investors in Cameroon, the registeration process proper at the one stop shop (Centre de Formalités d’Entreprise) which should for expediency and professionalism be handled by a notary or counsel, includes the following:
- Notary submits all company documents and forms at the front desk of the Centre de Formalités d’Entreprises
- . The staff will register the company with the Registre du Commerce et du Crédit Mobilier, with the Tax Administration and with the CNPS.
The following documents are required to file an application with the court:
• Articles of association (copy).
• Location plan of business premises to get exoneration of the Patente.
• Criminal record of the directors of the company or sworn declaration
• Certificate of non conviction (normally for nationals or resident aliens who are shareholders).
• Photocopy of marriage certificates (if any).
• Declaration of regularity and conformity, drawn by the notary public and signed by the incorporators, or a notarial statement of subscription and payment in lieu thereof.
Each page of the memorandum and articles of association must also carry the current fiscal year’s fiscal stamp (XAF 1,000 a page).
After the registration, the new incorporated business has to be published in one of the official newspapers before business operations start off.
More on the above as well as the other resources to be mobilized for a complete start of business operations in Cameroon, can be read here:
Do not hesitate to contact us at A&P for an initial free briefing if you need professional help incorporating and kick starting your business venture in Cameroon.