Doing Business in Ghana - Start a Business in Ghana

10-Nov-2018

Locals and Expats looking to do business in Ghana, will need to fulfill certain requirement before their business will be recognised and regarded as as legal. Follow the following steps to get your business registered and legally recognised in Ghana.

Step 1: Business Registration at Registrar General's Department (RGD)

All companies are required to complete the relevant application formsin order to get their companies registered in Ghana. All companies must have an auditor, who must be a member of the Institute of Chartered Accountants, Ghana (ICAG), but must not be an officer or a server of the company, nor be an employee or a partner of these persons. When all these forms have been completed satisfactorily and the corresponding fees have been paid, a certificate of incorporation and a commencement of business certificate are issued.

Below are the various business types and the applicable fees for registration:

INCORPORATION OF LIMITED LIABILITY COMPANIES

  • Applicant may purchase a set of Limited Liability Forms from the in-house bank at GH 10 cedis.
  • Lodge the following document at the Registry after completion.
    • Declaration
    • Consent letter from qualified Auditors.
  • Pay a prescribed fee of GH 230 cedi and a 0.5 % stamp duty on stated capital.
  • Registrar issues certificate of incorporation and certificate to commence business.
  • Time Frame: Three(3) working days.
  • Renewal each year at GH 50 cedis

COMPANIES LIMITED BY GUARANTEE

  • Applicant may purchase a set of prescribed regulations and a set of Form 3 from the in-house bank at GH 9.50 cedi.
  • Completed forms should be submitted at the Registry with a payable fee of GH 270.00 cedi.
  • Lodge the following document at the Registry after completion.
    • Declaration
    • Consent letter from qualified Auditors.
  • Registrar issues certificate of Incorporation and certificate to commence business.
  • Time Frame: Within five working days.
  • Renewal each year at GH 50 cedi.

EXTERNAL COMPANY

  • Applicant may purchase and complete Forms 20 and 21 from the Ghana Publishing Company Limited opposite, Novotel, Accra (Now Assembly Press)
  • Submit duly completed forms at the in-house bank together with the following:

         Either

    • A certified true copy of the Memorandum and the Articles of the Association of the Company registered outside Ghana in English
    • A certified true copy of the Certificate of Incorporation.
    • Power of Attorney to the Local Manager

           Or

    • All the constitution of the External Company
    • All these duly endorsed by the Ghana Mission in the Country if any or the nearest country where there is Ghana Mission.
  • Pay prescribed fee of US$1200 or cedi equivalent.
  • The Registrar examines registers and notifies the local manager in writing.
  • Filling of  annual returns each year at US$600 or Cedi equivalent.

INCORPORATION OF PARTNERSHIP

  • Applicant may purchase and complete Form “A” for Incorporation of Partnership from the in-house bank at GH 3.50 cedi.
  • Present duly completed form together with a stamped partnership agreement at the Registry.
  • Pay prescribed fee of GH 160.00 cedi.
  • Registrar examines document and issues certificate of registration.
  • Time Frame: Within five working days.

BUSINESS NAMES

  • Applicant may pick up a prescribed Form A from the in-house bank at GH 3.50cedi.
  • Submit filled forms at the bank in addition with a processing fee of GH60.00 cedi
  • Registrar examines and issues business registration certificate as well as  certified true copy of the form to be submitted as attachment
  • Renewal each year at GH 25.00 cedi.


Step 2: Register with the Ghana Investment Promotion Centre (GIPC)

The GIPC is responsible for registering all Enterprises in Ghana. 

Application Procedure: Investors are required to complete Investor Registration Forms (Form GIPC/R1) in duplicate. Within five (5) days from the date of orderly receipt of these forms (and its attachments) the GIPC will formally register the investment.

Below are the relevant fees and costs applicable at GIPC.

CATEGORY

      

 REGISTRATION

   GH¢

a)    Wholly Ghanaian Owned Business (Trading)

10,500

b)    Wholly Ghanaian Owned Business (Others)

1,050

c)    Joint-venture (i.e. $200,000 minimum foreign equity)

10,500

d)    Wholly Foreign (i.e. $500,000 minimum foreign equity)

16,800

e)    Manufacturing/Export Trading

21,000

f)     General Trading (i.e. $1,000,000 minimum foreign equity)

31,500

g)    Renewal (Every 2 years) – Joint Venture & Foreign Owned

2,730

h)    Renewal (Every 2 years) – Wholly Ghanaian Owned

630

i)     Liaison Office

42,000

j)     Certificate Replacement

630

k)    Certified True Copy (Certificate, Letters, etc.)

420

l)     Additional Certificates for Branches

2,520

 STRATEGIC PROJECTS

GH¢ 

a)    Processing Fee for Strategic Projects

21,000

b)    All Strategic Investment Approvals

105,000

EXEMPTIONS (PER BILL OF LADING/AIRWAY BILL)

  GH¢ 

a)    Invoice Value up to $100,000

2,100

b)    Invoice Value up to $200,000

4,200

c)    Invoice Value up to $300,000

6,300

d)    Invoice Value up to $400,000

10,500

e)    Invoice Value up to $500,000

12,600

f)     Invoice Value up to $600,000

14,700

g)    Invoice Value up to $700,000

21,000

  h)  Invoice Value up to $800,000

31,500

 QUOTA/WORK PERMITS

  GH¢ 

a) Automatic Quota

3,150

b) Replacement of Automatic Quota

3,150

c) Substitution of Quota Letters (Automatic & Short-term Permit)

1,050

d) Short-term permit: 1 year & below

10,500

e) Short-term permit: 2-3 years

14,700

f) Short-term permit: 4-5 years

21,000


TECHNOLOGY TRANSFERS

 Initial application (Max. 10 years); Renewals (Max. 5 years)

   GH¢

a. Processing Fee

11,760

b. Renewal Fee

17,640

c. Transfer value up to $500,000 per       annum

17,640

d. Transfer value up to $750,000 per     annum

24,696

e. Transfer value up to $1,000,000         per annum

34,574

f. Transfer value up to $1,250,000        per annum

48,404

g. Transfer value up to $1,500,000         per annum

67,765

h. Transfer value up to $1,750,000         per annum

94,872

i. Transfer value up to $2,000,000        per annum

132,821

j. Transfer value up to $2,500,000        per annum

172,667

k. Transfer value up to $3,000,000         per annum

224,468

l. Transfer value up to $3,500,000        per annum

291,808

m. Transfer value up to $4,000,000        per annum

379,350

n. Transfer value up to $4,500,000         per annum

493,155

o. Transfer value up to $5,000,000        per annum

641,102

p. Transfer value up to $5,500,000         per annum

769,322

q. Transfer value up to $6,000,000         per annum

923,186

r. Transfer value up to $7,000,000        per annum

1,107,824

s. Transfer value up to $8,000,000         per annum

1,329,388

t. Transfer value up to $9,000,000        per annum

1,595,266

u. Transfer value up to $10,000,000       per annum

1,914,319

v. Transfer value greater than                 $10,000,000 per annum

2,297,183


DATA SERVICES/REQUESTS

      GH¢

a. List of Registered Companies

 

                    i.        Investor Name, Contact Information & Sector of                               Operation (subscribers for 4 requests per                                        annum)

1,176

                   ii.        Investor Name, Contact Information & Sector of                              Operation (for any   request per time)

1,050

b. Due Diligence

2,352

c. Copy of TTA/Certified True Copy of Agreement & Certificate

588

d. Trend of Investment Analysis

2,940

e. FDI Information

1,176

f. Request for Certified True Copies of Documents per set

420

g. Project Catalogue (Red Book) per copy

126

GENERAL APPEALS

  GH¢ 

Appeals against Decisions of the Centre

12,600

Please Note: Service fees are non-refundable.

The fee is payable by Banker’s Draft only, in the name of Ghana Investment Promotion Centre.              

Fees may be changed by the Centre without any prior notice.


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