Success tips when doing business in Cameroon in 2023
- Your joint venture partner or Cameroon shareholder must not merely be a nominee for the sake of meeting the rules of foreign company incorporation. You should choose a partner that actually brings a lot to the table, including local knowledge your business would need in Cameroon;
- To optimize the success of your new business venture in Cameroon, Healy Consultants recommends your firm i) complete a feasibility study ii) prepare a detailed business plan iii) communicate with the Cameroon Chamber of Commerce iv) speak to your local embassy in Cameroon and v) communicate with Healy Consultants Clients who successfully launched their business in Cameroon;
- Foreign companies should be aware i) Cameroon statistics and market data are usually imprecise ii) transactions tend to take longer than expected iii) more frequent and longer market visits are required, at least initially iv) complex business procedures are common;
- An essential factor in starting a business in Cameroon is to thoroughly research the business sector you are planning to invest in. Healy Consultants recommends our Client prepare a detailed business plan including an extensive market study and evaluation of competitors.
Frequently asked questions
How many directors are required for starting a business in Cameroon?Only 1 director is required when registering a company in Cameroon.
How many shareholders are required for registering a company in Cameroon?For business registration in Cameroon, only 1 shareholder is required. However, the director of the company can also serve as the shareholder.
Is it mandatory to have a resident director or shareholder for Company Registration in Cameroon?Yes, all Cameroonian companies require at least 1 resident director.
Is a company secretary mandatory for company registration in Cameroon?No. A company secretary is not required for opening a business in Cameroon.
How to register a business in Cameroon?For business registration, our Client will be required to i) reserve the company name ii) supply the Cameroon office lease agreement iii) sign the company setup forms iv) register for tax and social security and v) obtain a business license.
Healy Consultants’ experts are Cameroon incorporation specialists and will assist our Clients at every step.
Can Healy Consultants assist my firm with Cameroon subsidiary company registration?Yes. Our Cameroon company incorporation services include i) business registration ii) business license registration iii) immigration solutions iv) employment strategies v) business banking solutions and vi) office rental requirements.