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Yaoundé - 25 March 2017 -
Companies

Cameroon lowers required capital to create limited liability company to FCfa 100,000

Cameroon lowers required capital to create limited liability company to FCfa 100,000
  • Comments   -   Monday, 13 March 2017 17:34

(Business in Cameroon) - Cameroonian economic operators now only require to have a minimum capital of FCfa 100,000 to create a limited liability company (Société à responsabilité limitée - Sarl in French), instead of FCfa one million as was previously the case. This is the reform brought on by a decree signed this past 1 March by the Prime Minister, Philémon Yang.

This reform, which also exempts potential Sarl founders from the obligation of establishing their statutes by notarial deed (one had to pay FCfa 300,000), should, according to experts, boost the creation of this type of companies in the country.

Indeed, we learned, since the Company Creation’s Formalities Centre (Centre de Formalités de Création des Entreprises - CFCE) started operating in 2010, over 90% of the enterprises set up in these structures facilitating the creation of companies in 72 hours, were done under the establishment category. This was, as CFCE managers explain, because of the financial requirements linked to the creation of Sarl’s, which have just been reduced by the government.

BRM

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