7 Things You Must Know Before Starting a Company in Cameroon

1. Verify if the name of your business is available


This requires you checking if the name you want to give to your business is available according to the CIPRO law. You can do so by checking the CIPRO website through a CK47 application form in which respond comes after 5 days or you could personally submit your application in the CIPRO office. If the name you have chosen is available, then it will be reserve for you in the two months that follows.

2. A Notary Public Drafts Certificate Request from the bank


In the process of creating a bank account for your company, the bank will require that a certificate must be issued by the notary public that the company is in the process of creation before the entrepreneur can open a temporary bank account called ''account of company in the process of creation''. The registry provides the name-checking service free of charge to notary public or lawyers/attorneys who have access to the court information retrieval and relational database.

3. Obtain a Receipt after Initial Capital Deposit


The founder(s) of the company are to deposit the initial capital to the bank or to the notary in accordance to Article 313 of the uniform act (the company law of organization for the harmonization of business law in Africa).


4. Have An Attorney/Notary Public Draft,  Memorandum And Articles of Association


According to Article 10 of the uniform Act of the organization states that, '' The articles of association shall be established by a notarial deed or by any other deed or by any other instrument that ensures legal validity in Cameroon where the registered office would be located. This instrument, coupled with the certification of the writing and signature of the parties, should be deposited as originals in a notary's office. Notary submits all documents at the front desk of the center of de formalities d'enterprises.

5. Entrepreneur Files Registration Document


The following documents are required to file an application with the court:
Articles of association
Criminal record of the directors of the company or sworn declaration
Certificate of non-conviction (normally for nationals or residents aliens who are shareholders)
Declaration of regularity and conformity, drawn by the notary public and signed by the Incorporated, or a notarial statement of subscription and payment in lieu thereof.


6. Register For a Tax Number


When you are successfully done with CIPRO, you will need to get a tax number from Cameroon Revenue Services by submitting a form you will obtain from the SARS website. Note that there is a particular form for a particular business, so you have to select the right form that correspond to your type of business. You will also need to obtain EMP101e form through which you can register your business as an employer and this form is available at SARS website too. This entire tax registration process will take around 12 days before you are granted a tax from Cameroon Revenue Services.

7. Register at the Department Of Labor


 Register your business with the labor department for the sake of unemployment insurance purposes by making use of U19 and U18 which takes 4 days to complete the registration process. Forms can be obtained from the department of labor.

One must plan well before thinking of establishing a company in Cameroon. After reading this article, it will be easier for you to successfully run your business.


No comments:

Post a Comment

We all have different opinions and each and everyone's opinion counts. Please leave your opinion about this article in the comment box.