Compared to other countries, economic investments in the Cameroonian business sector are definitely one the most liberal. Indeed, foreign direct investment in the country is opened to any activity sector except negative and dangerous businesses such as the production of narcotics, ammunition, military wears, etc. Investing in Cameroon makes you benefit repatriation of your profits, protection against nationalization, free importation of capital into the country’s economy, amicable dispute resolution through arbitration. Furthermore, you have the guarantee that you are provided with a non-violation of international corporate practice and a tax incentive. Here is the situation of economic investments in the Nation!
Consideration before investing into Cameroon’s economy
If you are a foreign investor who wishes to explore the country’s business sector, then, you are at the right address. Cameroon is one of the most opened nations to provide facilities for economic investments. Indeed, its abundant natural resources (mining, oil, agricultural, etc.) show how you can invest in every sector and reap abundant benefits.
Moreover, due to its membership to the CFA Franc Zone, it benefits from a monetary stability. This factor is definitely a big advantage to any business, knowing that the currency does not fluctuate. Also, it has a diversified export economy touching all areas including agriculture, mining, oil and many more!
Government measures to promote economic investments in the country
To attract investors, the Cameroonian government has prioritized some sectors favorable to investments. These include:
- The food industry
- Rural development
Indeed, programs are put in place and implemented by government agents and supported by financial backers, in order to facilitate judicial decisions, simplify procedures, ensure protection of companies against threats and support businesses. In so doing, the country possesses some free trade zones, adequate to exportation companies.
If you want to set up this type of enterprise, it must be for the production of goods and the provision of services exclusively meant for export. In this case, you will benefit from many advantages, namely:
- No restrictions on sales operations
- The possibility of creating a foreign currency account
- An exemption from all licenses and many more.
However, it is important to meet with professional practitioners on the field, to have all the relevant information and procedure to benefit from such assets.
Doing business in Cameroon
Before you do business in the country, it is important to take into account the following considerations:
- First of all, you will have to obtain a business permit. Here, the regulatory body is the Cameroon immigration service. They will provide you with all information about the procedure to follow.
- The next step is to acquire the resident permit. When your visa has expired and you need to change your status because of the establishment of your company, you will need a resident, rather than a visitor permit.
- You will also need the expatriate quota and work permit, if you wish to employ non-Cameroonian workers.
The rest of the procedure will depend on the type of company you want to set. To do this, remember to meet with professionals in the country, who have mastered the economic and business sector!