REQUIREMENTS TO REGISTER A COMPANY IN CAMEROON
REGISTER A COMPANY IN CAMEROON
- A private limited liability company is mainly a small business existence which is a highly recommended company type to start a business in Cameroon.
- The OHADA uniform act relating to commercial and economic interest groups governs the registration of private limited liabilities companies in Cameroon.
- The new law now permits a single shareholder to both cooperate and natural person.
- If a private company faces financial risk, its shareholders are not subject to selling their assets.
- The proposed shareholder and directors must have attained the age of 18 years. A foreigner can be a shareholder and a director of a private limited liability company in Cameroon.
- Every private limited liability must use LTD after their corporate.
- A private limited company has continuous existence. A private limited company in Cameroon exits even in the case of the death of its members or shareholders.
BENEFITS OF PRIVATE LIMITED LIABILITY COMPANY IN CAMEROON - A registered private limited company increases the credibility of your business.
- It helps owners from personal liability and protects owners from other risks and losses.
- Draws more customers.
- Ease in obtaining bank credits.
- Offer limited liability to preserve your company’s assets.
- Great funds supplement and more attractive stability.
- Enhance the potential to grow big and expand.
A BASIC REQUIREMENT FOR REGISTRATION OF A PRIVATE LIMITED LIABILITY COMPANY IN CAMEROON
- Consult a cooperative law firm/ solicitor or Lawyer
- Articles of association ( notarized and stamped dutied)
- Company Name
- Registered office
- Notarial statement and subscription and payments
- Identification of shareholders (ID card for nationals & passport for foreigners)
- A non-conviction for nationals and Police clearance for foreigners.
- Localization plan
This article was written by ‘JUNIOR ANGABUA CHUO ANGABUA ESQ. LL.B, Dip Computer, BL, & AAIADR.
A Legal Practitioner and expert in business & compliance law, Maritime law, Insurance, International Trade, and Ship Brokerage, and Founder and Lead counsel of Prime Time Law offices.
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Article by CHUO ANGABUA JUNIOR
‘’The content of this article is intended to provide a general guide to the subject matter. We advise specialist advice be sought depending on your specific circumstance’’
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