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HOW TO SET UP A BUSINESS IN CAMEROON
Do you wish to set up a business in Cameroon? Find out, in this article, how to proceed to create your company in Cameroon.
Cameroon is an interesting country to invest in thanks to its numerous natural resources. The Government of Cameroon greatly encourages foreign investment in many sectors such as transport, agribusiness, tourism, and rural development to boost its economy. In fact, many programs have been set up to facilitate the creation of small, medium, and large enterprises in the country, as well as to prevent corruption.
Cameroon has free zones which can be exploited by export business companies. These companies are eligible for many benefits such as;
Exemption from permit requirements,
The ability to open foreign currency bank accounts,
The right to transfer up to 75% of profits abroad,
Tax exemptions for 10 years as from the beginning of the company’s activities and an overall 15% tax rate on profits as from the 11th year. Moreover, Cameroon is famous for its cheap labor force as well as its numerous natural resources.
However, procedures regarding the setting up of a company in Cameroon are quite complex and costly.
Anyone is free to set up a business in Cameroon. Moreover, foreigners are allowed to own 100% of a company’s shares.
Lawyers in Douala.