OPEN A BANK ACCOUNT AS A FOREIGNER IN CAMEROON
Yes, a foreigner can open a bank account in Cameroon, but upon fulfilling conditions to operate a bank account in Cameroon in accordance with the extant laws and the Bank of Central Africa States regulations in which Cameroon is a member.
Everybody knows the importance of a bank account. Most foreign companies seeking to set up subsidiary companies and foreign individuals seeking to register a new company in Cameroon would want to ascertain beforehand how difficult or easy it will be to open a bank account in Cameroon. It is a fact that any person or company with a functioning bank account can easily engage in commerce thus making it very important to discuss on the procedure to open a bank account as a foreigner in Cameroon.
BANK ACCOUNT CREATION FOR A FOREIGNER IN CAMEROON
There is a certain requirement to open a bank account as a foreigner in Cameroon, which is as follows:
- To open a bank account as a foreigner in Cameroon, the number one condition is to be a Cameroon resident. This implies such a person must have obtained a Cameroonian resident permit.
- Another requirement to open a bank account as a foreigner in Cameroon foreigner is to have a taxpayers card
- A foreigner seeking to establish a business in Cameroon must first register a company and process the required business licenses.
In opening an account in Cameroon, Cameroon nationals living abroad are not categorized as foreigners. Cameroon citizens abroad have an unfettered right to open any bank in Cameroon with a national identity card.
In conclusion, to open a bank account as a foreigner in Cameroon, we can represent interested parties through our company secretarial services in cameroon.
Article by Barr. Mafany Victor Ngando
Kinsmen Advocates Law Firm
“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”