Tentmaker Reports

Cameroon Report

Entrepreneurial Missions Index

41.39

General Information

Population

22,211,166 (51st most populous country in the world)

RELIGIONS
Indigenous Beliefs40%
Christian40%
Muslim20%
LANGUAGES
24 Major African Groups
English
French

Industries

Petroleum production and refining, aluminum production, food processing, light consumer goods, textiles, lumber, ship repair

Unless otherwise noted, all information included here was obtained from the World Factbook project 4, conducted by the Central Intelligence Agency (CIA). For more detailed information about Cameroon, visit https://www.cia.gov/library/publications/the-world-factbook/geos/cm.html.

Business Information

The World Bank ranks Cameroon as 148 out of 183 economies in terms of ease of doing business. The country ranks as 123 (of 183) in terms of ease of starting a business.

It requires 0 procedures, takes 0 days, and costs N/A% of income per capita to start a business in Cameroon.

In order to start a business in Cameroon, one must follow these procedures:

  1. Have a notary public verify and reserve the proposed company name by filing a motion with the African Intellectual Property Organization’s office in Yaounde
  2. Deposit the initial capital in a bank and obtain a receipt
  3. Present the physical location plan to the tax department and obtain an attestation of business premises
  4. Have an attorney / notary draft the memorandum and article of association; sign company bylaws before the notary
  5. Have the signed bylaws duly registered with the Registration and Stamp Duty Office of the Department of Taxation
  6. File an application to the Registrar of Companies in the court of first instance
  7. Publish the incorporation of the company in the legal journal (Cameroun Tribune)
  8. Obtain a taxpayer card with the Inspectorate of Taxes in the area where the enterprise is located
  9. Declare the existence of the company before the authorities in charge of the industry
  10. Declare the existence of the company to the local office of Department of Labor
  11. Register workers with health administration
  12. Delcare the existnce of the company and the personnel employed before the National Social Insurance Fund (Caisse Nationale de Preboyance Social NSIF / CNPS)

Unless otherwise noted, all information included here was obtained from the Doing Business project 3, conducted by the World Bank. For more detailed information about starting a business in Cameroon, visit http://www.doingbusiness.org/.

 

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Cameroon Economic Freedom

The World Economic Forum (WEF) was founded in 1971 by Klaus Martin Schwab at the University of Geneva in Switzerland.  It is a non-profit foundation best known for its annual meeting in Davos, Switzerland, which brings together top business leaders, international political leaders, selected intellectuals and journalists to discuss both economic and social issues facing the world.  The WEF also serves as a think tank, and publishes a wide range of reports focusing on issues of concern and importance to Forum communities. In particular, Strategic Insight Teams focus on producing reports of relevance in the fields of competitiveness, global risks and scenario thinking.  The Global Competitiveness Report measures competitiveness of countries and economic competitiveness among a wide range of factors such as corruption, tax rates, work ethic, and many others.
1A General government consumption spending as a percentage of total consumption 8.4
Area 1-A Data 11.4
1B Transfers and subsidies as a percentage of GDP 9.6
Area 1-B Data 2.1
1C Government enterprises and investment 10
Area 1-C Data 14.3
1Di Top marginal income tax rate 1
Area 1-Di Data 60
1Dii Top marginal income and payroll tax rates 0
Area 1-Dii Data 68
1D Top marginal tax rate 0.5
1 Size of Government: Expenditures, Taxes, and Enterprises 7.1
2A Judicial independence (GCR) 2
2B Impartial courts (GCR) 3.1
2C Protection of property rights (GCR) 4.6
2D Military interference in rule of law and the political process (CRG) 6.7
2E Integrity of the legal system (CRG) 3.3
2F Legal enforcement of contracts (DB) 2.2
2G Regulatory restrictions on the sale of real property (DB) 3.2
2 Legal Structure and Security of Property Rights 3.6
3A Money growth 9
Area 3-A Data 5.2
3B Standard deviation of inflation 9.3
Area 3-B Data 1.73
3C Inflation: Most recent year 9.8
Area 3-C Data 0.92
3D Freedom to own foreign currency bank accounts 0
3 Access to Sound Money 7
4Ai Revenues from trade taxes (% of trade sector) 3.8
Area 4-A(i) Data 9.2
4Aii Mean tariff rate 6.4
Area 4-A(ii) Data 17.9
4Aiii Standard deviation of tariff rates 6.2
Area 4-A(iii) Data 9.5
4A Taxes on international trade 5.5
4Bi Non-tariff trade barriers (GCR) 5.5
4Bii Compliance cost of importing and exporting (DB) 5.8
4B Regulatory Trade Barriers 5.7
4C Size of the trade sector relative to expected 2.6
4D Black-market exchange rates 10
4Ei Foreign ownership/investment restrictions (GCR) 6.5
4Eii Capital Controls 0
4E International Capital Market Controls 3.3
4 Freedom to Trade Internationally 5.4
5Ai Ownership of banks 5
5Aii Foreign bank competition 0
5Aiii Private sector credit 8.2
5Aiv Interest rate controls/negative real interest rates 9
5A Credit Market Regulations 7.4
5Bi Minimum wage (DB) 6.3
5Bii Hiring and firing regulations (GCR) 5
5Biii Centralized collective bargaining (GCR) 6.1
5Biv Mandated cost of hiring (DB) 5.1
5Bv Mandated cost of worker dismissal (DB) 6.9
5Bvi Conscription 10
5B Labor Market Regulations 6.6
5Ci Price controls 4
5Cii Administrative requirements (GCR) 2.3
5Ciii Bureaucracy costs (GCR) 6.3
5Civ Starting a business (DB) 6.8
5Cv Extra payments/bribes (GCR) 2.5
5Cvi Licensing restrictions (DB) 2.7
5Cvii Cost of tax compliance (DB) 0
5C Business Regulations 3.5
5 Regulation of Credit, Labor, and Business 5.8
SUMMARY INDEX 5.79
Rank c 123
 

Cameroon Summary

 

1 World Economic Forum

2 Free the World
Gwartney, James and Robert Lawson with Herbert Grubel, Jakob de Haan, Jan-Egbert Sturm, and Eelco Zandberg (2009). Economic Freedom of the World: 2009 Annual Report. Vancouver, BC: The Fraser Institute. Data retrieved from www.freetheworld.com.

3 World Bank Data

4 World Factbook Project

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