The Cameroon Investment Promotion Agency (CIPA) is a parastatal institution with legal personality and financial autonomy with headquarters in Douala. CIPA fall under the technical supervisory authority of the Ministry in charge of the Promotion of Private Investments and the financial supervisory authority of the Ministry of Finance...
ELIGIBLE BUSINESS SECTORS
The scope of the Investment Code includes the following activities:
PREFERENCE SCHEDULES GRANTED AND BENEFITS
The basic schedule: Granted for a period of8 years to businesses that create a certain level of employment and export at least 25% of their production and / or use national resources up to at least 25% of the value of inputs,
SME schedule: Granted for a period of 10 years to companies that meet the following three conditions: creation of a given level of employment; achieving a level of investment less than or equal to one billion five hundred million CFA and contribution of a Cameroonian or a Cameroonian corporation to the company's capital for up to at least 35%.
Strategic schedule : Granted for a period of 17 years to any investment activity carried out in a field declared as strategic and that meets one of the specific criteria below;
Cameroon's economic needs and potentials are such that there are a great variety of good investment sectors. Amongst other can be cited:
Favourable conditions to investment
The economy has enjoy a growth rate of 5% for some years, which has to increase;
In its efforts to build a competitive and prosperous economy through the development of investment and savings, and performance objectives of its economic and social action, the Republic of Cameroon has set the following guidelines:
In considered as investor according to this law, every physical or corporate body From Cameroonian or foreign origin, resident or not, who acquires an asset for the exercise of its activities in view of obtaining yields.
Is considered as investment, according to this law, an asset held by an investor, in particular:
Since 1990, Cameroonian parliament has adopted a number of texts translating the will to liberalise public life and the economy. Also, for most economic activities, the regime of simple declaration replaced that of prior authorisation.
To improve the legal and institutional frame, in a bid to create an appropriate environment to business, to attract more direct foreign investments, formalities in different administrations have been reduced very much.
The charter of investment of CEMAC signed by member States on 17 December 1999 has come to reinforce this regulatory framework. To this effect, it stipulates that member States shall ensure the promotion of le901 protection, and reinforce the State of law. The community court of justice ensures the rights and duties of treaty creating CEMAC and acts taken in virtue of the treaty.
States adhering to the treaty of the Organisation for harmonisation of Business law in Africa (OHADA), guarantee the application of procedures and orders of the common court of justice and arbitration of this regional institution. They adopt their national laws and their legal policies to the rules and regulations of OHADA.
Since the 90s, the private sector became the muscle of the Cameroonian economy. In a view to reinforce it, several 1 measures were taken, notably the adoption of a new investment code and the implementation of a vast programme for the privatisation of public companies.
Since then every physical or foreign corporate body no matter his place of residence can carry out economic activities in the country. It can, individually or in association with others exercise this activity, either under common law or on one of the special regimes instituted by laws and regulations in force. In any case, it benefits from the full protection of Cameroonian law.
To this effect, it receives an equal treatment as that of Cameroonian physical or corporate bodies, in the respect of legal and regulatory provisions concerning the companies of strangers as well as provision of treaties and agreements arranged between Cameroon and their respective countries.
It also enjoys, in the respect of laws and regulations in force, rights of ail nature concerning property, concession, and administrative authorisation.
No expropriation, nationalisation or requisition of a regularly established company or its goods can take place without the State having hired prior to that, the procedure of declaration of public utility, justifying it and without prior compensation, just and equitable, based on an adequate evaluation of the company or its goods, object to such an act by an independent third party.
ln the same light, every physical or corporate body regularly established in Cameroon can, in respect with laws and regulations in force, conclude and execute every contract it judges useful for its interests, notably on financial and commercial issues, determine its production, distribution and trading policy and, in a general manner, accomplish every act of management conform to rules of business practice in Cameroon.
To exercise an economic activity, it enjoys the freedom of hiring and firing which is done in respect with social legislation and work in force.
The State guarantees every investor, physical or corporate body regularly established, to its partners and leaders, to its foreign staff holder of a duly signed employment contract, as well their legal families, entry, stay and free circulation and exit from the national territory.
It thereby issues every necessary administrative document to them. It also guarantees every physical or corporate body non resident in Cameroon the right to freely transfer revenue of ail kind form invested capital, and in case of cession of activities, the liquidation product or cession of investment, while waiting that it should be in order with tax administration.
It also guarantees, in respecting the laws and regulations governing banking and exchange operations, the freedom to transfer out of the national territory, funds corresponding to normal and current payments for supplies and effective services, notably in the form of rights or other remunerations.
Every authorised investment benefits from the guarantee of non commercial risks on conditions of article 15 of the treaty to institute the multilateral agency for investment guarantee, ratified by Cameroon.