Have you ever thought of registering a company in Cameroon?
Incorporating a small business maybe a huge decision for the owner(s), though a good one, as it’s not reserved for those that are well-established.
The law obliges everyone running a business within the boundaries of Cameroon to be registered. You’re maybe running an unregistered business now, but be careful because the penalties are high.
When you register a company in Cameroon, you are permitted to issue shares and raise equity capital.
There are also many other benefits you’re missing for running an unregistered business. These include legal and marketing advantages, which you may not benefit from because you don’t have a registered business.
There are many benefits when you register a business in Cameroon. Below are some:
Once you register a company in Cameroon, your personal assets are protected from business actions. Your company becomes a distinct legal entity, responsible and accountable for any debts incurred by the business.
This means, those the business is owing will seek payment from the business assets and not your personal assets. With this, your business can perform operations without risking your personal assets.
Once you register a company in Cameroon, it becomes easier for you to raise capital for your business. You can apply for a loan from banks or even raise equity capital from angel investors.
A registered company has a better chance of obtaining a bank loan when compared to a sole proprietorship or partnership.
Once your company is registered in Cameroon, you’re permitted to issue shares and raise equity capital. This will help you to raise the much-needed finance needed to run your business.
Investors will prefer to invest in a registered business with a formal structure than an unregistered business.
Registering a business in Cameroon will bring in some benefits in terms of dealings with reputable businesses in the future. Many foreign companies are looking up to engage in business ties and engagements with registered companies in Cameroon.
As a business platform, we’ve had many foreign companies ask us to verify if the companies they want to engage with in Cameroon are registered. In most cases, we discover the businesses are not registered.
To avoid such opportunities, you need to get your business registered by OpenHub Digital!
When you register a company in Cameroon, it helps build trust and establish your legitimacy with potential customers and investors. This also serves as a big plus for business’ branding.
Customers, investors and other stakeholders perceive a registered business to be more stable than those that are not registered.
Government contracts and supplies are always put at the disposal of registered businesses. You cannot apply for a tender from reputable businesses if you don’t have a registered business in Cameroon.
The 2021 Finance Law offer tax incentives to investors who are willing to register a company in Cameroon. Some of such incentives include a lower corporate tax rate, exemption from business license tax and many others.
Registering a company in Cameroon using the services of OpenHub Digital also comes in with many benefits.
Your company is priority when any foreign ties or engagement is needed. Many foreign companies get in touch with us to look for companies who can supply or partner with them.
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This content has been prepared for information purposes only. It is not intended to provide, and should not be relied on for, tax, accounting or legal advice. You need to consult your own tax, accounting or legal advisors before engaging in any transaction.