A company is a corporate structure with a separate legal personality. It is statutorily regulated and incorporated for the purpose of profit maximization. The requirements for registering a company in Cameroon are straightforward with no intricacies. All companies, whether private companies limited by shares or private unlimited must be registered at The Trade and Personal Property Rights Registry which is the principal law that regulates companies in Cameroon.
The registry in charge of the regulation and supervision of the registration and companies is the Trade and Personal Property Rights Registry established pursuant to the provisions of the OHADA Uniform Act Relating to Commercial Companies and Economic Interest Groups.
REQUIREMENTS FOR REGISTERING A COMPANY IN CAMEROON
- The first step required by the applicant is to choose two suitable proposed names for the company. Where this is done, an availability check will be conducted to find out if the name is available and not already in use by another company.
- The objectives and business of the company must be provided.
- The registered principal address of the company.
- The share capital and shareholding formula among shareholders will be required.
- The particulars of a minimum of one director/ will be required. A copy of their means of identification such as national ID or international.
- Particulars of the company secretary/manager/ legal adviser (this is optional for a private company in line with OHADA).
- The applicant will be required to furnish details of the shareholders of the company. Details such as names, occupations, residential addresses, email addresses, mobile phone numbers, and means of identification such as international passport, or national identity card. The director can also be the shareholder of the company.
- The Memorandum and Articles of Association of the company to be registered, which is advisable to be drafted by a Legal Practitioner and get assistance to register your company in Cameroon.
COMPANY REGISTRATION PROCEDURE IN CAMEROON
Company registration procedure in Cameroon requires the applicant will thereafter be required to pay an official filing fee to the Trade and Personal Property Rights Registry and a stamp duty paid to the Revenue Service. Where a lawyer has been hired for such a process, the service fee or professional fee will also be paid to implement the requirements for registering a company in Cameroon.
Company registration procedure in Cameroon cannot be commenced online enough reason why it is advisable to use the services of an accredited corporate attorney to achieve a seamless registration and futile the requirements for registering a company in Cameroon.
In conclusion, to operate any company in Cameroon, such a company must be registered with The Trade and Personal Property Rights Registry However, it is important to note there is a mandatory share capital threshold applicable to certain businesses in Cameroon. The cost of registering a company in Cameroon is determined after due consultation with your lawyer to enable him determine the type of company /objectives of the company to be formed.
Achieving anything business in Cameroon requires a lot more than having the required capital. It is advisable to have a solid business idea backed up with proper research , planning and implementation. To ensure you successfully start your company in Cameroon, the above requirements for registering a company in Cameroon must be considered and implemented totally.
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”