According to Article 3 of the Uniform Act relating to Commercial Companies and Economic Interest Groups in Cameroon, any person, whatever their nationality, wishing to engage in the form of a company shall choose a form of company, which suits the activity, envisaged from among those provided by the Organization for the Harmonization of Business Law in Africa (OHADA) Law.
The regime and activities of a wood exploitation company is regulated by Law No. 94/01 of 20 January 1994 to lay down forestry, wildlife and fisheries regulations in Cameroon.
How many shareholders should a wood exploitation company have upon registration in Cameroon?
A wood exploitation company can have as many shareholders as possible. The shareholders can be physical persons or legal persons. However, the shareholders should not be prohibited by the factors of being a convict, bankruptcy or not legally qualified to own shares in a company.
What should promoters look out for prior to register a wood exploitation company in Cameroon?
The promoters should ensure that they are qualified to be awarded a license to operate by the Ministry of Forestry in Cameroon.
The promoters should also ensure they are not barred from registering a company under Cameroon law.
Under what type of company can a wood exploitation business be registered in Cameroon?
A wood exploitation business can be registered on two forms of companies. A private limited company and a public limited company. This will be based on the minimum share capital to be contributed by the founders upon incorporation of the company.
What are the contributions to be paid to the capital of a wood exploitation company in Cameroon?
Cash contribution, Service contribution and Contribution in kind.
Can a shareholder of a registered wood exploitation company in Cameroon be a manager?
Yes.
Can a foreign national own 100% shares of a wood exploitation company in Cameroon?
According to section 41 (1) of Law No. 94/01 of 20 January 1994 to lay down forestry, wildlife and fisheries regulations in Cameroon, any natural person or corporate body wishing to carryout forest exploitation activities shall be granted approval.
(2) Forest exploitation rights may be granted only to natural persons resident in Cameroon, or to companies whose registered offices are in Cameroon and whose shareholders are known to the forestry services.
45 (2) of Law No. 94/01 of 20 January 1994 to lay down forestry, wildlife and fisheries regulations in Cameroon states that standing volume in state production forest may be sold to persons of Cameroonian nationality only, except as provided for in section 77 of same law.
58 of Law No. 94/01 of 20 January 1994 to lay down forestry, wildlife and fisheries regulations in Cameroon same law states that an Exploitation permit and individual felling authorizations may be granted only to persons of Cameroonian nationality to whom various facilities may be given by various professional groups in order to make forest exploitation more accessible to them.
What permits are required for the operation of a registered wood exploitation company in Cameroon?
Forest exploitation permit, concessions and Individual felling authorizations.
What are the mandatory requirements for promoters wishing to register a wood exploitation company in Cameroon?
Promoters wishing to register a wood exploitation company in Cameroon must fulfil the following mandatory requirements;
- Must possess a valid Passport or National Identity Card.
- Must be of age 18 years and above.
- Must not be bankrupt from their country of origin.
- Must provide an authorizing document from the parent company if a subsidiary company to be registered in Cameroon.
- Must not suffer from insanity.
- Must possess good criminal records, which is evidenced by a non-crime certificate.
Can a wood exploitation company in Cameroon be registered but not operate?
Yes. If the company has not been granted the authorization from the Ministry of Forestry, Wildlife and Fisheries.
What is the prove that a wood exploitation company registered in Cameroon is operational?
For a wood exploitation company registered in Cameroon to be fully operational, it must show proof of the following;
- A certificate of Incorporation
- An MO Form registration license
- A tax payer’s registration number
- A notarized lease agreement
- A location plan
- A certificate of non-indebtedness
- An attestation of Bank account creation
- A physical office location
- A matriculation number from the National Social Insurance Fund for the newly registered company in Cameroon
- A matriculation number per staff/worker from the National Social Insurance Fund
- A forest exploitation permit/authorization.
What information is required to register a wood exploitation company in Cameroon?
To register a wood exploitation company in Cameroon, the corporate attorney is enjoined by law to request some mandatory information from the company promoters/ founders. This information enables the registration the company in Cameroon to be successful irrespective of whether the founders/promoters are in Cameroon or abroad.
In accordance with section 262 of the Uniform Act relating to commercial companies and economic interest groups of the OHADA Law, the following information is required from the company founders;
- Name of company
- Form of company (Public Limited Company or Private Limited Company)
- Objectives of the company
- Copy of shareholder(s) identification documents
- Non-crime certificate
- Company startup capital
- Copy of identification document of company Manager or General Manager etc.
What documents have to be established by the corporate attorney? Legal assistance to register a wood exploitation company in Cameroon.
The corporate attorney is to establish the following documents which will be subject to registration;
- Memorandum and Articles of Association of the company
- Notarized statement of subscription and payment of shares
- Notarized certificate of appointment of company manager
- Declaration of Regularity and Conformity with the OHADA Law
- Notarized list of company shareholder (s) and company manager (s)
- Location sketch of business premises.
Documents delivered upon completion of the registration process
- A certificate of Incorporation
- An MO Form registration license
- A tax payer’s registration number
- A notarized lease agreement
- A location plan
- A certificate of non-indebtedness
What are the administrative bodies involved in the registration process?
- The Court of First Instance
- The Stamp Duty Office
- The Tax Office
- The Company Registration Office
- The Ministry of Forestry, Wildlife and Fisheries.