Cameroon
Corporate Guide
What are the different types of companies that can be incorporated in Cameroon?
Besides non-commercial companies, AUSGIE provides the possibility to incorporate the following types of companies:
Private unlimited company
A company in which all members are traders and have unlimited liability, for the company’s debts (Article 270 AUSGIE).
Sleeping partnership (limited partnerships) company
A company in which the capital is made up of shares, and one or more partners, known as “active partners,” have unlimited, joint, and several liability for the company’s debts coexist with one or more partners, known as “sleeping partners,” whose liability for the company’s debts is limited to their shares (Article 293 AUSGIE).
Private limited company
A company in which the shareholders are liable for the company’s debts up to the limit of their contributions and their rights are represented by company shares. It may be formed by one natural or corporate person, or by two or more natural or corporate persons (Article 309 AUSGIE).
Public limited company
A company in which the liability of each shareholder for the debts of the company is limited to the amount of shares they have taken, and their rights are represented by shares (Article 385 AUSGIE). A public limited company may have only a single shareholder and is allowed to make a public offering.
Simplified public limited company
Formed by one or more shareholders whose articles of association freely prescribe the organisation and operation of the company subject to certain mandatory rules. Shareholders of a simplified public limited company are liable for the company’s debts only to the extent of their contributions, and to which their rights are represented by shares. Where such a company has a single shareholder, it is referred to as a “sole shareholder”. The sole shareholder shall exercise the powers devolved to shareholders where AUSGIE provides for a collective decision (Article 853-1 AUSGIE).
Economic interest group
A type of entity whose purpose is to aggregate all the means necessary to facilitate or develop the economic activity of its members and to improve or increase income from the said activity (Article 854 AUSGIE).
Companies without corporate personality may also be created, such as joint ventures (Article 254 AUSGIE) or de facto partnerships (Article 864 AUSGIE).
Co-operative
An autonomous corporation representing partners’ common economic, social, and cultural needs, with collective ownership and management, where power is exercised democratically on a cooperative basis (Article 4 AUSC).
The most used are private limited companies, public limited companies and simplified public limited companies.