6 Must-Dos after Registering Your company in Cameroon

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6 Must-Dos after Registering Your company in Cameroon

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What to do After registering a company in Cameroon
What to do After registering a company in Cameroon

 

Congratulations !!! your company has been registered in Cameroon. If everything is going to plan we helped you in the process of doing so. Haha. You can now say you have done the first step in putting that long thought out business plan into effect. However, there are still some few processes you need to go through after registering your company in Cameroon before you can go fully operational. This is also important as it will help you avoid paying some unplanned penalties and fines in the future.  So This is Four things you Must do After your company has been registered in Cameroon.

1.Create a taxpayer Account

After registering your company in Cameroon. It is important to note that you need to create a taxpayers account on the Ministry of Finance, Directorate of taxation website. This will help in tax payment process and procedures. Fortunately, creating this account is done online. Also, you should obtain an attestation of Taxpayers Registration. To prove that your business is registered for taxes in Cameroon.

2. Register With Taxation Centre in your business Locality.

You will also have to go to the closest taxation centre to your business location and register. At this point there some small fees you will have to pay and the thing you will have to do these include:

  • Pay verbals rents and rental tax to your tax centre.
  • Apply for a Certificate of Non-indebtedness
  • You will have to start declaring your taxes monthly.

3. Matriculate your Company and employees With NSIF/CNPS

Also, you will need to Matriculate your company and employees at the national social insurance fund. This will entail you:

  • Obtaining a National Social Insurance Matricule number for your company.
  • Obtaining a National Insurance Fund Matricule number for your employees.
  • Apply for a National Social Insurance Fund Clearance Certificate.
  • Begin declaring your contribution Monthly.

4. Deposit your file containing documents about your company with your supervisory ministry.

When all the above has been done, it is important to drop your documents at the ministry that covers your sector of activities. This documents help the ministry know of your existence and help them make you get the help you need or controls your activities. Depending on the ministry you might need to pass different documents. Your ministry will then keep track if you’re following the rules and regulations which govern your activities

5. Create company bank Account

For Financial safety, it is important to have a company Bank account. Also, For the sake of accountability and administrative reasons, it is important to create a separate bank account from your personal account. If possible choose a bank with which you are familiar with but also make sure it is not far from where your physical shop is located. Some of the Popular banks for this purpose are UBA bank, SGB bank, Ecobank, CCA bank or Afriland first bank.

6. Obtain a Post office Box Address

You need to get a P.O box address as it will be a good means to receive physical mails and packages. This enhances your company identity and gives you the possibility of receiving items or mail you may need for the day to day running of the business. Also, having a P.O box address provides you with better security for your mails and keeps your home and personal address private.

 

Now you can do your businesses harmony without any fears of fines or penalties. But it is important to remember to keep declaring your monthly taxes and NSIF contributions. We could help you go through all these processes while you focus on the core aspects of your business. Express your worries in the comment section below and we will get back to you.

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