Start, Run & Grow Your Business
Creating and registering an association in Cameroon involves several key steps, including defining the purpose, drafting statutes, holding a constitutive assembly, and submitting the registration dossier. This guide provides detailed instructions and highlights how OpenHub Consulting can assist at each stage, from drafting documents to offering legal advice and administrative support.
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Starting a Barbing Salon in Cameroon as a Limited Company: A Step-by-Step Guide to help you start your barbing salon in Cameroon.
Starting a Barbing Salon in Cameroon as a Sole Proprietor: A Complete Guide to help you set up your barbing salon.
Register your enterprise in Limbe. Contact us today at OpenHub Consulting to start your business journey in Cameroon.
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Technology startups in Cameroon receive favourable tax incentives to stimulate investment and promote the growth of the digital economy. These include a reduced income tax rate of 5% on interest paid to investors and dividends paid to shareholders, and on movable capital revenue. This strategy is part of the government’s plan to foster entrepreneurship, attract investment, and support the development of the technology sector in the country.
Cameroon’s General Tax Code offers tax advantages and incentives to ICT start-ups registered in approved management centers to foster innovation and support the digital economy. During the incubation phase, start-ups are tax exempt, giving them financial freedom to focus on growth. Technological innovation is encouraged through a 30% income tax credit on associated expenses. During the operational phase, further benefits continue, such as reduced tax rates, exemptions, and preferential rates on capital gains from sales. After five years, start-ups transition to the regular tax system, maintaining their established foundations.
Cooperative societies are voluntary associations that promote the economic and social well-being of their members by pooling resources and undertaking collective activities. Key features include democratic control, active member benefit, limited return on capital, and emphasis on education and training. These cooperatives operate across various sectors and can increase bargaining power, improve resource access, and promote sustainable practices. Cooperatives’ structure and benefits are subject to local regulations, such as tax exemptions in Cameroon. Assistance is readily available for those interested in forming or participating in cooperatives.
Newly created companies and sole proprietor businesses are exempt from a business license tax for their first year of operation, per the General Tax Code. However, they are not exempt from income tax. There are specific provisions allowing flexibility in reporting initial financial statements and calendar considerations for tax payments. Companies must understand these obligations and consult with tax professionals for clarity.
Are you an entrepreneur facing business challenges in Cameroon? OpenHub Consulting Ltd is here to help! We provide comprehensive solutions tailored to your needs.
In this document, you will find detailed information about the specific requirements and guidelines for starting a nursery and primary school in Cameroon.
