Brief: If you have been planning to form a limited liability company in Cameroon, then these 6 easy steps will be of great help to you.
You can incorporate your company in any region in Cameroon. You are also free to carry out operations in any council area of your choice provided it is where you are registered for taxes.
You can also operate out of your tax boundary, but would have to pay a business license contribution in the said council area.
Starting a limited liability company in Cameroon is simple and passing through an agent will help you reduce a lot of unnecessary legal fees.
Form a limited liability company in Cameroon by following the six steps below:
Most new businesses will prefer to form a limited liability company in the region where they live and plan to carry out their business activity. If you did not know, you can form an LLC where you are located and still carry out activities in different areas. Even the case where your business has a physical presence (offices, storefronts, etc), you don’t need to form another LLC.
However, there are some regions where you can form a limited liability company in Cameroon with ease and at a lower cost such as the West, North West and South West Regions.
For some, choosing a name is the first step in forming a limited liability company in Cameroon. There are no specific rules about the kind of names you choose for your business in Cameroon. However, the business name you choose must not be in use by another business.
For those who want to change the name, I wrote a post on how to change your company’s name in Cameroon. You can also see how to announce your company’s name change and the various communication channels you could consider.
What you need to know about your business name:
There are many documents needed to incorporate a company in Cameroon. Some of them are easy to get while others may be a little complicated.
You can choose to do them by yourself as well as you can nominate an agent like us to do it for you.
To form a limited liability company in Cameroon, you will have to file in your formation document with the Trade & Personal Property Credit Register.
This file must include a memorandum and articles of association, business address, location plan and identification of the shareholder(s).
After your business is incorporated in Cameroon, you need to apply for an employer identification number with the National Social Insurance Fund. You will need this number in case you have to hire employees for your company.
This service is offered to our clients free of any charge. Note that the employer identification number is not required to open a bank account as many people erroneously think.
Make Sure You Do These
The business license is what allows you to carry out your business activities within a designated council area.
You will also have to register for the various taxes that your business is required to pay. These include corporate tax, personal income tax, withholding tax, VAT, etc.
There are certain business activities that require you to get a license or permit. Some of them are issued at the national level while others are issued by local authorities. However, you will need them in order to remain compliant. There are many business activities that may require a license or permit to carry activities:
You have games of chance, telecommunication, forestry, agriculture, aviation, fish & wildlife, mining & drilling, maritime transportation, radio or TV broadcasting and many others.
If your business requires a license to operate and you need help in getting it, don’t hesitate to hire a professional. We can help you get one that will handle your research as well as application process for you.
If you form a limited liability company, then it should be for business. Every business is out to make profit and grow their client base. The Internet is the cheapest tool to use to grow your customers today.
Having a website presence means having your business open 24 on 24 to the entire world. It is the cheapest way to give out information about your business as well as the product or service that you offer.
Once your business is registered, you need to make sure it stays in compliance with the tax administration. We can help monitor your business’ status by making sure you meet critical deadlines in tax responsibilities.
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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.