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Cameroonian legislation creates a favorable climate for business development, particularly thanks to Cameroon's membership in numerous regional organizations.
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In order to attract more investors, large-scale programs are being implemented by the public authorities with the support of donors to improve the delivery of justice, increase the energy supply, strengthen economic information, simplify procedures, support businesses, and ensure the protection of the economic area against illicit threats.
The currency
As a member of the franc zone through its participation in the Economic and Monetary Community of Central Africa (CEMAC), Cameroon benefits from a guaranteed availability of foreign currency for the transfer of payments abroad and a fixed exchange rate between the CFA franc and the euro. However, a reform of the CFA franc, the common currency of the six Central African countries, is currently under consideration by CEMAC.
Business law
Cameroon's membership in the Organization for the Harmonization of Business Law in Africa (OHADA) provides for a set of clear and modern rules governing, in particular, corporate law and the most important areas of commercial law in the seventeen member states. In this regard, it is worth noting the measures designed to facilitate the application of the OHADA Uniform Act on Arbitration.
A good legal and regulatory framework
In Cameroon, the legislative and regulatory framework guarantees legal and judicial security for business. The legal, organizational, and procedural framework for tax debt recovery at the national level is largely satisfactory. (Source: OECD)
Intellectual property law
The country is also a member of the African Intellectual Property Organization (OAPI), which standardizes the protection of intellectual and industrial property rights as well as the centralized filing procedure.
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Insurance law
Cameroon has ratified the CIMA treaty, which creates a single regulation for insurance operations and establishes a single regional commission to control these activities.
Tax treaties
Cameroon has concluded eight tax treaties, including one with France, South Africa, and Morocco. A convention to prevent double taxation also exists within the CEMAC, which reduces the tax burden between member states, except in the case of dividend transfers.
International commitments
Cameroon is a member of ICSID (International Centre for Settlement of Investment Disputes) and MIGA (Multilateral Investment Guarantee Agency). It has also ratified the New York Convention on the Enforcement of Foreign Arbitral Awards.
Freedom of establishment
In Cameroon, access to the profession of trader is free.
Regulations concerning equity investments
Foreigners can own a company at 100%.
Reporting obligations
The Investment Promotion Agency (API) provides information on the authorizations required for establishment.
However, the applicant must meet, as the case may be, the following conditions:
• be registered either in the Commercial Register or in the Municipal Directory;
• have made a declaration of existence;
• hold a professional trader card;
• have premises and physical facilities when required;
• comply with other professional obligations, particularly in tax matters;
• obtain prior approval for persons of foreign nationality.
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