What do I Need to Open a Business Account with BICEC?

Procedures to Open a Corporate Bank Account with BICEC in Cameroon?

If you have just incorporated your company in Cameroon, then you should be thinking of is to get a corporate bank account for your business. This account should be separate from your personal bank account.

For your business to be successful, one of the things you don’t need to do is to mix your private expenses with that of your business. So it’s worth separating the two.

If your choice of opening a bank account for your business is BICEC, then let me share with you the necessary documents and procedures to open a business bank account with BICEC.

Banque Internationale du Cameroun pour l’Epargne et le Crédit, BICEC offers its services to private customers, civil servants, students, professionals, SMES, SMIS, farmers, corporate institutions, etc. Click to know more about the services BICEC offers.

Recommended: 5 Easy Steps to Form a Limited Liability Company in Cameroon

Opening a business or personal bank account in Cameroon is not difficult and may take you less than an hour if all the necessary requirements are met. The procedure may slightly vary from one bank to the other.

Also, the documents required for opening a savings, salary or current account are different. Each bank may have something additional, hence it’s necessary for you to verify with any other bank before hand.

There are some documents that you are obliged to have when opening a business bank account in Cameroon – you need to produce copies of your business registration certificate and business license amongst other documents.

If you have not yet incorporated your business, don’t hesitate to get in touch with us to facilitate the work. We can get your company incorporated within 10 and 14 working days.

BICEC Corporate Bank Account Requirements

Private and Public Limited Companies

• Certificate of Incorporation
• Articles of association as required by OHADA
• Attestation of non-indebtedness (Tax certificate / certificate of non-indebtedness / Valid Business license)
• Taxpayers number (valid taxpayer’s card)
• Balance sheet or forecast (if newly created)
• Photocopy of Valid National Identity Cards
• Three 4X4 passport-sized photographs
• Business location plan (Certified sketch map of business location)
• Application to open an account on company letterhead
• Company stamp
• Initial deposit (not specified) NB: Always book an appointment ahead of time when you want to open an account

Also go along the authorization to manage the bank account issued by the company executives and a postal address for the company.

The initial deposit is non-specified but usually ranges from XAF50,000 to XAF500,000. This amount can be withdrawn instantly after creating the bank account.

If there’s any additional documentation needed, the bank will notify you. Note that all originals of the required documents will need to be verified before the account is created. So it’s very necessary for you to take the originals alongside the photocopies.

Checkout these useful links:

Open a Corporate Bank Account with Ecobank Cameroon

Open a Corporate Account with Afriland First bank

Open a Corporate Account United Bank for Africa

How to Open a Business Bank Account for Your Company in Cameroon

OpenHub Digital does its best to provide accurate and up-to-date information. Don’t hesitate to notify us if you have seen any inaccuracy in this post. Let’s know in the comment section.