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INVESTMENT INCENTIVES IN THE PRIVATE SECTOR IN CAMEROON
The government highly encourages investment in the private sector in Cameroon. This effect has put in place incentives with a view to promoting private investment and boosting national production. For this purpose, the applicable law is Law No 2013/004 of 18 April 2013, to lay down private investment incentives in the Republic of Cameroon. This law is applicable to Cameroonian or foreign, natural or legal persons whether or not established in Cameroon, conducting business therein, or holding shares in Cameroonian companies.
This law applies to investment in all sectors with the exception of those governed by special instruments like the upstream oil, mining, and gas sectors, and those under the general partnership contracts regime. It is good to note that for the purpose of incentives, there are two phases in the life span of the business venture that makes it entitled to benefits. There is the establishment phase which may not exceed 5 years, and the operation phase which may not exceed 10 years. After the expiry of this period, the investor shall automatically be subject to ordinary law. Also of the keynote is that any investor seeking incentives is required to get approval from the Minister in charge of private investment.
As per this law, investors are entitled to two kinds of incentives depending on the criteria, and the type of investment carried out. Common incentives apply to any investor who meets one of the following criteria;
They employ during the operational phase and according to the size of the enterprise and sector, Read more