The ISO code of Cameroon is CM according to the ISO 3166 standard. The local name of the country is the same as its English name. Cameroon capital city is Yaoundé. People in Cameroon speak the French, and English languages. On 1 January 1960, Cameroon emerged as a sovereign political entity. In the year 01/01/1960, Cameroon emerged as a sovereign political entity. The largest cities in Cameroon are Yaoundé, Douala.
Cameroon is located in the UTC +01:00 time zone, which is also called West Africa Time or WAT. The internet country code top-level domain (ccTLD) for Cameroon is .cm. The International dialing code for Cameroon is 237. People in Cameroon drive on the right side of the road. Total land area of Cameroon is 475,440 km² (approx. 183,568 mi²). Cameroon is not a landlocked country. It means that is is bordered by at least one major body of water.
Cameroon is located in Africa. Cameroon is considered to be a developing nation. The developmental stage of a nation is determined by a number of factors including, but not limited to, economic prosperity, life expectancy, income equality, and quality of life.
Currently Cameroon faces various issues, including waterborne diseases, deforestation, overgrazing, desertification, poaching, overfishing.
Doing business in Cameroon
We offer various corporate services in Cameroon jurisdiction. These services can serve both, people coming from Cameroon and foreigners. If you plan on doing business in Cameroon you might be interested in contacting us.
To find out about starting your business in Cameroon click on company formation in Cameroon.
To find out how to open a bank account in Cameroon and moreover what type of account Confidus Solutions suggests to create, please click on bank account in Cameroon.
Choose preferred service below or continue reading to find out more about Cameroon.
Demographics of Cameroon
The total population of Cameroon is 24,678,234 people. In Cameroon, the population density is 44 people per square kilometer (114 per square mile). Because of this statistic, this country is considered to be sparsely populated. The ethnic diversity is very diverse according to a fractionalization scale which for Cameroon is 0.8635. Cameroon has approximately 291792 foreign immigrants. The median age is approximately 18.3 years. In Cameroon, 5.7 in every 100 people use internet. Cameroon has a Human Development Index (HDI) of 0.504.
The majority religion of Cameroon is Christianity, Cameroon is considered to be a developing nation. The developmental stage of a nation is determined by a number of factors including, but not limited to, economic prosperity, life expectancy, income equality, and quality of life. Click on a link to read more on demographics of Cameroon.
Culture of Cameroon
People in Cameroon speak the French, and English languages. According to data on inbound tourists in Cameroon, 912,000 tourists arrive in the country each year. One of the most popular national dishes of Cameroon is ndolé. To read more click on culture of Cameroon.
Geography of Cameroon
Cameroon is considered to be a large nation because of its total area. Its total land area is 475,440 km² (approx. 183,568 mi²). Cameroon is located in Africa. Its capital city is Yaoundé. Cameroon has 5 neighbouring countries. Its neighbours include Central African Republic, Chad, Republic of the Congo, Equatorial Guinea, and Gabon. Total length of land borders of Cameroon is 5018 kilometers (~1,937 miles).
The highest point of Cameroon is Mount Cameroon, with its official height being 4040 m (13,255 ft). Including land mass and EEZ, the total area of Cameroon is approximately 491,987 km² (~189,956 mi²). The most notable natural resources found in Cameroon are petroleum, bauxite, iron ore, timber, hydropower.To read more click on geography of Cameroon.
Economy of Cameroon
The currency of the country is Central African CFA Franc. The symbol used for this currency is Fr, and it is abbreviated as XAF. 4.3% of population in the country are unemployed. The total number of unemployed people in Cameroon is 1,061,164. Each year, Cameroon exports around $6 billion and imports roughly $6.8 billion. The Gini Index of the country is 44.6. Cameroon has a Human Development Index (HDI) of 0.504.The Global Peace Index (GPI) for Cameroon is 2.349. Cameroon has a government debt of 12% of the country's Gross Domestic Product (GDP), as assessed in 2012. Cameroon is considered to be a developing nation. The developmental stage of a nation is determined by a number of factors including, but not limited to, economic prosperity, life expectancy, income equality, and quality of life. Major industries in the country are petroleum production and refining, aluminum production, food processing, light consumer goods, textiles, lumber, ship repair.
The total Gross Domestic Product (GDP) assessed as Purchasing Power Parity (PPP) in Cameroon is $67,783 billion. Each year, consumers spend around $16,364 million. The ratio of consumer spending to GDP in Cameroon is 0%, and the ratio of consumer spending to the world consumer market is 0.0472. The corporate tax in Cameroon is set at 38.5%. Personal income tax ranges from 10% to 35%, depending on your specific situation and income level. VAT in Cameroon is 19.25%. In 2013, Cameroon received 596.2 million USD in foreign aid.In 2014, the foreign aid amounted to 611.8 USD.To read more click on economy of Cameroon.
Infrastructure of Cameroon
Infrastructure quality in Cameroon is rated to be at 1.85. It indicates a mediocre quality - roads, railroad, ports and other facilities are able to handle somewhat significant traffic, but not enough to ensure smooth transit at all times.
In Cameroon, 53.7% of the population has access to electricity. There are 10,207 internet hosts in Cameroon. Cameroon has 33 airports nationwide.
The logistics performance index of Cameroon is 2.3. It indicates a mediocre performance - shipping procedures are relatively unreliable, timeliness and safety of transferred goods are often a problem, although such a system may function relatively well if traffic is no too dense.
Tracking possibilities for shipments are rated at 2.52. It indicates a satisfactory performance - the tracking systems provide all the basic information as well as additional data about shipments; most of the times it also has a weel established cooperation with foreign and international tracking systems, as well as usually provides information in multiple languages.
The number of road motor vehicles per 1000 inhabitants in Cameroon is 101. To read more click on infrastructure of Cameroon.
Politics of Cameroon
Cameroon, is a dominant-party presidential republic. With regard to political and civil freedoms, Cameroon is 3. Citizens in Cameroon experience little to no civil liberties and political rights. Citizens are not free to express themselves and do not enjoy political freedom or a representative government. Countries with this political situation are dangerous for investment, as an authoritarian government may have outsize control over economic matters. The head of the government is Paul Biya.
According to the World Bank Group, the government effectiveness index of Cameroon is -0.74. This indicates that the government of Cameroon is ineffective. Public and civil services are severely handicapped, leading to potential for social and political upheaval.In Cameroon, the legislative power is vested in a National Assembly. The Global Peace Index (GPI) for Cameroon is 2.349. The strength of legal rights index for Cameroon is 6. Overall, it is considered to be rather adequate - bankruptcy and collateral laws are able to protect the rights of borrowers and lenders at least decently; credit information is msotly sufficient and generally available. In 2013, Cameroon received 596.2 million USD in foreign aid. In 2014, the foreign aid amounted to 611.8 USD. Cameroon is a member of the United Nations (UN). On 20 September 1960, it joined the UN as a full member state. Cameroon is a member of the African Union (AU). On 25 May 1963, it joined the AU as a full member state. Cameroon is a member of the World Bank. To read more click on politics of Cameroon.
Environment of Cameroon
Cameroon emits 0.3 metric tons per capita of CO2. 212450 km² of Cameroon's territory is covered in forests. and forest land comprises 45% of all the land in the country. The number of road motor vehicles per 1000 inhabitants in Cameroon is 101. To read more click on environment of Cameroon.
Company formation in Cameroon
The development of telecommunications and economic globalization has made it possible for interested investors to form companies around the world. With proper research, financial investments, and legal backing, business ventures can safely be established in Cameroon.
When establishing a company in Cameroon, an interested investor must do due diligence with regard to legal processes, international regulations, and sufficient investment for success. It is critical to understand cultural, social, and political factors of Cameroon that will affect the establishment and growth of one's business. Contact us or click on company formation in Cameroon to read additional information when setting up a business.
Bank account opening in Cameroon
With the right paperwork and initial outlay, it is possible for a foreign citizen to open a bank account in Cameroon. This opportunity for international accounts and investments offers several advantages based on economic regulations and tax structures. Interest rates and fees vary depending on your interests.
When considering opening a bank account in Cameroon, one must enlist the help of international experts to guide them through the process. To find out more about our banking services click on bank account in Cameroon or contact us.