Since the 1990s, the private sector has become the engine of the economy in Cameroon. In order to strengthen it, various measures have been taken, notably the adoption of a new investment code and the implementation of a vast program of privatization of public enterprises.
Consequently, any foreign natural or legal person, whatever their place of residence, can undertake and exercise an economic activity in the country. It may, individually or in association with others, exercise this activity, either under the ordinary law regime, or under one of the special regimes established by the laws and regulations in force. In all cases, it benefits from the full protection of Cameroonian law.
As such, it receives treatment equal to that of Cameroonian natural or legal persons, in compliance with the legal and regulatory provisions concerning the establishment of foreigners, as well as the provisions of treaties and agreements concluded by Cameroon with the States whose are nationals.
It also enjoys, in compliance with the laws and regulations in force, rights of all kinds with regard to property, concessions and administrative authorizations.
No expropriation, nationalization or requisition of a regularly established company or its goods can take place without the State having previously initiated the procedure of declaration of public utility justifying it and without prior, fair and equitable compensation , based on an adequate assessment of the business or its assets, the subject of such an act, by an independent third party.
In the same vein, any natural or legal person regularly established in Cameroon may, in compliance with the laws and regulations in force, conclude and execute any contract it deems useful for its interests, in particular in financial and commercial matters, determine its production, distribution and marketing policy and, in general, perform any management act in accordance with the rules and customs of commerce in Cameroon.
To exercise an economic activity, she enjoys the freedom of hiring and dismissal which is exercised in compliance with social and labor legislation in force. The State guarantees any investor, natural or legal person, duly established, its partners and managers, its foreign staff holding a duly signed employment contract, as well as their legal family, entry, stay , free movement and leaving the national territory.
To this end, it issues any required administrative document to them. It also guarantees any natural or legal person not resident in Cameroon the right to freely transfer income of any kind from the capital invested and, in the event of cessation of activities, from the proceeds of the liquidation or disposal of the investment, provided that it is in good standing with the tax authorities.
It also guarantees, in compliance with the laws and regulations governing banking and foreign exchange operations, the freedom to transfer, outside national territory, funds corresponding to normal and current payments for actual supplies and services, in particular under form of royalties or other remuneration.
All approved investments benefit from the guarantee of non-commercial risks under the conditions of article 15 of the treaty establishing the Multilateral Investment Guarantee Agency, ratified by Cameroon.