One-stop business creation center Cameroon
In an effort to fight poverty, develop the private sector and promote small and medium size enterprises in Cameroon, In 2005 Cameroon Prime Minister, head of government signed on 18 May 2005, a degree that will allow the creation of special centers all over Cameroon that permits entrepreneurs to create enterprises in 72 hours and at a very low cost.
By mid 2010 the first one-stop shop business creation centers were inaugurated in Douala and Yaoundé the two main cities in Cameroon and a couple of years later, other offices where opened in Bafoussam, Bamenda and Garoua, Ebolowa, Morowa and Limbe. Today there are a total of 8 offices spread in specific regions all over Cameroon.
This has greatly reduced the bureaucracy, cost and red tape formerly involved in creating a business in Cameroon. Before the creation of these one-stop centers it could take from 3 months to 1 year before completing what can be done in 72 hours today. Though these one-stop business creation centers are still very unpopular in Cameroon it has been gaining more and attention over the last 2 years.
However, making it easy to create a business is one thing and actually making it easy to run the business in something else entirely. It is still very difficult to enforce contracts, obtain credits from the bank and there is shortage of electricity supply among other daily challenges. These are some of the reasons why Cameroon still ranks very low in the 2014 “Ease of Doing Business Report” by the World Bank. Though Cameroon is still lagging behind as compared to many OECD countries, real progress is being made. According to the World Bank table below, Cameroon might be lagging being OECD countries but it is doing fairly well in Sub-Sahara Africa.
Official Prices for Business Creation at the one-stop business creation center in Cameroon
Application for the attestation to register with the NSIF (National Social Insurance Fund) 6000 FCFA + 2 stamps of 1000FCFA each. Total: 8,000FCFA (about 16 USD)
Attestation of non-salary earning staff at the NSIF (National Social Insurance Fund) 1,500 FCFA + 1 stamp of 1,000 FCFA. Total: 2,500 FCFA (about 5 USD)
Business License: FREE (Tax exoneration for the first two years)
Taxpayer’s Card: FREE
Lease Registration: 10% of the annual amount declared by the promoter for a business person who is renting, 0.11% of the declared value of the building for a business person who owns the business building.
Registration on the Trade and Real Property Loan Register:
53,000 FCFA (about 103 USD) for natural persons
41,500 FCFA (about 83 USD) for legal entities Required Documents
Necessary document for Natural Persons
Certified true copy of the national identity card or birth certificate, passport or residence permit for foreigners
Non-conviction certificate; for foreigners: 1 non-conviction certificate from his country of origin or any other document to serve in lieu.
Copy of marriage certificate or certificate of celibacy
2 passport-sized photos 4×4
Where necessary, a prior authorization to do business
A location map signed by the applicant
Necessary documents for Legal Entities
2 certified true copies of by-laws
2 copies of the declaration of regularity and conformity, or a notary’s declaration testifying payment of subscription deposit
2 certified true lists of managers, administrators or associates totally and personally responsible or having the right to commit the company
2 copies of non-conviction certificates for the above-mentioned people
Where necessary, a preliminary authorization to do business
A location map signed by the applicant
It takes 72 hours to create a company in Cameroon on the condition that your file is complete. If you file is complete you can expect collect your entrepreneurship certificate together with other related documents (an exempt license, free taxpayer card and the Register of Commerce and Personal Property Credit in 72 hours.All types of business can be registered at the one stop-shop business creation center, Public Limited companies, Limited Liability Companies, partnership; Cooperative, Individual Trader, joint ventures etc
Very soon in will be possible to create your business online
ONE-STOP BUSINESS CENTRES OF CAMEROON
One-stop business creation center website: http://www.cfce.cm/
A local presence is becoming more and more important as competition increases in several sectors in Cameroon and Africa in general, creating a local agency or subsidiary will certainly drive you a competitive advantage over your competitors.A54 Marketing Group can work with you to set-up and agency or subsidiary in Cameroon.To know more about our terms and condition: info@a54marketinggroup.