Nationalization, Expropriation, Deprivation and the Protection of Foreign Investors in Cameroon
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Among the well-known commercial risk of today, expropriation seems to stand out as the most prominent. It represents the most dreadful form of measures to investors, which might be taken against foreign direct investment by a host state.
The fear of expropriation by foreign investors in Cameroon appears to be justified especially as Cameroon is a developing country by the fact that over the years after independence the influx of foreign capital by powerful foreign multinationals has been considered as a return to neo-colonialism.
Consequently, some African countries in a bid to protect and exercise its sovereignty have tended to reserve the right under national legislation to expropriate or nationalize foreign property in its territory when it deems it necessary. In such a case the role of a law firm or lawyer is to ensure that its client property cannot be nationalize except under certain well pre-define legal and internationally recognized principles. The term nationalization and expropriation are interchangeable. Expropriation signifies the lawful form of interference with foreign property right in accordance with the principle of international law.
In other to protect any foreign investor in Cameroon, we usually insert the clauses of expropriation under the investment code of 1990 while contracting with the state of Cameroon. That is to say, no expropriation or nationalization or requisition of a duly establish undertaking or of its property shall be carried out without just initiating the procedure to declare such expropriation, nationalization or requisition as being in the public interest without prior compensation that is just, equitable and based on proper evaluation by an independent 3rd party.
In Cameroon, public interest as concern land includes expropriation for the construction of a railway line, to give forest to a semi-public corporation or to build administrative offices or create plantation. We usually ensure that our client is promptly, adequately and effectively compensated.
ABOUT THE AUTHOR: Barrister Angoh Angoh Jacob
Legal Power Law Firm is foremost practitioner in complex specialties like Mining, Gas & Oil exploration, Banking, Insurance, etc. requiring some connection in Government. The unique internal structures of the Firm ensure that the relationship between its individual lawyers is co-operative and excellent, all to the advantage of our clients.
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More information about Legal Power Law Firm
Disclaimer: While every effort has been made to ensure the accuracy of this publication, it is not intended to provide legal advice as individual situations will differ and should be discussed with an expert and/or lawyer. For specific technical or legal advice on the information provided and related topics, please contact the author.
Consequently, some African countries in a bid to protect and exercise its sovereignty have tended to reserve the right under national legislation to expropriate or nationalize foreign property in its territory when it deems it necessary. In such a case the role of a law firm or lawyer is to ensure that its client property cannot be nationalize except under certain well pre-define legal and internationally recognized principles. The term nationalization and expropriation are interchangeable. Expropriation signifies the lawful form of interference with foreign property right in accordance with the principle of international law.
In other to protect any foreign investor in Cameroon, we usually insert the clauses of expropriation under the investment code of 1990 while contracting with the state of Cameroon. That is to say, no expropriation or nationalization or requisition of a duly establish undertaking or of its property shall be carried out without just initiating the procedure to declare such expropriation, nationalization or requisition as being in the public interest without prior compensation that is just, equitable and based on proper evaluation by an independent 3rd party.
In Cameroon, public interest as concern land includes expropriation for the construction of a railway line, to give forest to a semi-public corporation or to build administrative offices or create plantation. We usually ensure that our client is promptly, adequately and effectively compensated.
ABOUT THE AUTHOR: Barrister Angoh Angoh Jacob
Legal Power Law Firm is foremost practitioner in complex specialties like Mining, Gas & Oil exploration, Banking, Insurance, etc. requiring some connection in Government. The unique internal structures of the Firm ensure that the relationship between its individual lawyers is co-operative and excellent, all to the advantage of our clients.
Copyright Legal Power Law Firm
More information about Legal Power Law Firm
View all articles published by Legal Power Law Firm
Disclaimer: While every effort has been made to ensure the accuracy of this publication, it is not intended to provide legal advice as individual situations will differ and should be discussed with an expert and/or lawyer. For specific technical or legal advice on the information provided and related topics, please contact the author.
