INTRODUCTION TO FOREIGN COMPANY DIRECTOR IN CAMEROON
A foreign company director in Cameroon mostly contemplated knowing whether a foreigner can be a director of a Cameroonian company. The answer to this question is Yes.
The Cameroon governing law for company registration or business formation is The OHADA Uniform Act Relating to Commercial Companies and Economic Interest Groups. The law allows a foreign company director in Cameroon to establish a company in Cameroon and own the same 100%.
The law also does not preclude a foreign company director in Cameroon from being a director in a Cameroonian company. Consequently, a foreigner seeking to do business in Cameroon can be a director of a Cameroonian company.
However, a foreign director may not be appointed as a Managing Director of a company or be a signatory to a bank account unless such a person has obtained a requisite work permit.
BECOMING A COMPANY DIRECTOR IN CAMEROON AS A FOREIGNER
The Trade and Personal Property Rights Registry is the government agency in charge of the incorporation of a company in Cameroon.
In our previous write-up, we explained the procedure for the incorporation of a foreign subsidiary company in Cameroon.
In closing, foreigners seeking to establish a new company in Cameroon or become a Director of an existing Cameroon company may seek further consultation with business lawyers in Cameroon for proper advisory on becoming a company director in Cameroon as a foreigner.
Article by Barr. Mafany Victor Ngando
“The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances”