HOW TO OPEN AND OPERATE AN ACCOUNT IN CFA FRANC IN CAMEROON AND CEMAC FOR NON-RESIDENTS
The opening of non-resident accounts in CFA francs in the books of credit institutions is free in CEMAC, subject to the presentation of the documents required by exchange regulations.
Credits and debits to non-resident accounts in CFA Franc are free, subject to compliance with the regulations in force.
Opening and operation of accounts in CFA Franc in the CEMAC in favour of Non-Residents
When opening accounts of non-residents in CFA Franc, the account applicant shall provide the credit institution with the following documents:
- For Individuals Non-Residents to Open and Operate CFA Accounts in Cameroon and CEMAC
- The identity document, in particular the valid passport or residence permit;
- The applicant address;
- Proof of the source of the funds;
- The administrative document attesting to his status as a non-resident; etc.
- For Non-Resident Legal Corporations to Open and Operate CFA Accounts in Cameroon and CEMAC
- The address of the holder’s registered office or main place of business;
- The recent extract from the Registry of commerce or any document in its place;
- The statutes, if applicable;
- Proof of the source of the funds; etc.
- For Diplomatic Representations, International Organisations and Similar Bodies
- The headquarters agreement or any document in its place;
- The address of the head office;
- The act authorizing the person in charge to bind the entity etc.