Do you want to register a startup in Cameroon? Do you have a startup that you have not registered and wants to get external funding? One of our leads told me she had put up a concept and a strategy for her startup. She said she had already bought a domain name for her startup and is in the process of designing the website.
What was her problem? She wanted to know at what stage is it recommended for her to actually register a startup in Cameroon so that it becomes a legal entity. This was in regards to getting external funding and other 3rd party services.
If your case is like hers and the business is going to incur liabilities, then I will advise you incorporate your company now. It’s safe for you to incorporate quickly in order to get personal protection and reduce your liability. The moment you engage in activities that you may become personally liable, know that it’s time to register a startup in Cameroon as a limited company.
To know more, make sure you read these 9 Benefits Of A Private Limited Company and these 5 Easy Steps to Form a Limited Liability Company in Cameroon
Incorporating your startup is the first step of branding. It’s risky going out to the public with an attractive brand when you have not yet incorporated the business. A smart competitor who may have insider information can take advantage of this and incorporate before you do. Note that protecting your brand is recommended if you plan to keep running the business under the name you choose.
I don’t think you will want to put all your efforts into developing a brand and then lose it to someone else who has incorporated the same name. Just imagine the effort you have put in branding – designing the logos, website, colors, etc.
If you want to register a startup in Cameroon, make sure you check out the minimum requirements. I think this post on when to start paying taxes will be helpful to you. It’s also important for you to know some of the taxes you will be liable to pay as well as some local taxes in Cameroon.
Are you ready to register a startup in Cameroon? Get in touch with us at OpenHub Digital. We have helped many startups to start, run and grow their business in Cameroon!
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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.