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REGISTRATION OF A BETTING COMPANY IN CAMEROON
Strict compliance must be observed when creating a betting or gaming company.
The regime and activities of a Betting company in Cameroon is regulated by Law No. 2015/012 of 16 July 2015 which lays down regulations governing entertainment game, money games, and games of chance in Cameroon and Decree No.
2019/2300 of 18 July 2019 preceding the modalities of application of the 2015 law fixing the regime for games of amusement, money and chance.
Firstly, what are the conditions and modalities to create a betting company?
Conditions and modalities for creating a betting company:
The promoter must be of good conduct;
Must be a major;
Have no criminal records;
Must not be a military or an exempted person. Must not be bankrupt from their country of origin;
Must provide minutes from the parent company if a subsidiary company is to be registered in Cameroon;
offline gaming and betting in Cameroon are varied and placed under different regimes under the laws and regulations in force betting and public lotteries under the regimes of concession agreements while entertainment games and commercial lotteries or raffles are under the regime of authorization.
-Online games : An authorization to operate online games is subject to the production by the representative of a legal person of a file including a stamped application specifying a bank guarantee certificate in the amount of two hundred million (200,000,000) francs issued by a first-class bank approved by the Monetary Authority.
–For Casino Games: a casino promoter shall demonstrate its financial ability to support the investment necessary for the development of the business to be operated and to guarantee the bets. A security lodged with at least one second-class bank shall guarantee the financial capacity. The amount of the security referred to above shall be:
CAT A Casinos two hundred and fifty million (250,000,000) CFA francs.
CAT B Casinos one hundred million (100,000,000) CFA francs;
CAT C casinos fifty million (50,000,000) CFA francs; and
CAT D casinos twenty-five million (25,000,000) CFA francs.
These licenses are 10 years renewable
We can assist you in registering your betting company and obtaining the said license call us at +237656899294.
By Shella Fru Esq.
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