Business Registration

STEP 1: REGISTRATION WITH REGISTRAR GENERAL’S DEPARTMENT

Incorporate a company at the  Registrar General’s Department and obtain the following:

a. Certificate of incorporation and TIN number

b. Company Regulation

c. Certificate to commence Business

STEP 2: MINIMUM EQUITY CONTRIBUTION

Under Act 865, foreign investors are required to comply with the minimum equity requirements. This can be either in cash or in capital goods relevant to the investment; or a combination of both.

The minimum foreign equity requirement is as follows:

-US$200,000 for Joint Venture with Ghanaian partner having not less than 10% equity participation

-US$500,000 for 100% foreign ownership

-US$1,000,000 for Trading Activity with a minimum of 20 skilled Ghanaians employed by such an enterprise.

There is no minimum equity requirement for foreigners interested in the following sectors: manufacturing, export trading and portfolio investment.

Exemptions are applicable to persons who have lost their Ghanaian citizenship by virtue of assumption of citizenship in another country. Foreign spouses of Ghanaian citizens who meet certain requirements are also exempt from the minimum equity requirement. Contact investor.services@gipc.gov.gh for more information.

STEP 3: REGISTRATION WITH GIPC

The Investor then registers with the GIPC (after paying the relevant fees) for the process to be completed. This procedure takes five (5) statutory working days to complete, provided the registration forms and all supporting documents are in order.

Wholly Ghanaian-owned enterprises are also encouraged to register with GIPC to benefit from the incentives provided for in the GIPC Act, 2013 (Act 865)

STEP 4: REGISTRATION WITH GHANA REVENUE AUTHORITY (GRA)

All enterprises must register directly with the Ghana Revenue Authority for purposes of fulfilling statutory tax obligations.

STEP 5: ENVIRONMENTAL IMPACT ASSESSMENT CERTIFICATE

 

Applicable enterprises must register and obtain an environmental permit from the Environmental Protection Agency (EPA).                                               

Registration with other relevant Agencies: companies are to comply with regulatory requirements within their various sectors of operation eg. mining, oil and gas and export.

 NEW EXEMPTION PROCEDURES

Under Section 26 of the GIPC Act 865, companies are granted exemptions from payment of Import Duty, VAT and NHIL on plant and machinery for their operations including those under the laws mentioned in the Act.

Exemption applications are done online through the ICUMS with the following documents as attachments:

·         A Valid GIPC Certificate

·         Bill of lading/Air Waybill

·         Commercial Invoice

·         Packing List

·         All model numbers and photos of all machines and equipment being imported

 ·         A valid Tax Clearance Certificate

·         A standard Business Plan

·         The Centre shall before submitting request of exemption to the Minister responsible for Finance determine whether the request will facilitate changes in technology and promote the specialized use of machinery, equipment or other items necessary for the establishment and operations of the enterprise.

     IMPORTATION OF PLANT, MACHINERY AND EQUIPMENT

Enterprises are free to implement their projects by importing the relevant plant, machinery and equipment. Zero-rated and concessionary duty items should be cleared automatically through the Customs excise and Preventive Service (CEPS) of the Ghana Revenue Authority (GRA). Essential plant, machinery and equipment, which fall under section 26 of Act 865 should be cleared with the GIPC.

 

NOTE: ALL APPLICATIONS MUST BE SUBMITTED ONLINE VIA  investor.services@gipc.gov.gh

 

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