Minimum Foreign Capital Requirements
Foreign investors are required to comply with the GIPC Act 2013 (Act 865) regarding minimum foreign capital requirements either in cash or in capital goods relevant to the investment; or a combination of both. By way of equity participation, the breakdown is as follows:
- US$200,000 for Joint Venture with the Ghanaian partner having not less than 10% shares
- US$500,000 for wholly foreign-owned companies
- US$1,000,000 for General trading companies with a minimum of 20 skilled Ghanaians employed by such an enterprise
Companies exempt from the minimum foreign equity requirement include those set up solely for Manufacturing, Export Trade, or Portfolio Investments, companies owned by Ghanaians who lose the citizenship by reason of the assumption of the citizenship of another country (living in Ghana or in the Diaspora) and foreign spouses of Ghanaian citizens in a marriage of at least 5years and also resident in Ghana.
Specific terms and conditions apply for eligibility of exemptions.
Foreign Capital in Cash
- Bank Account – Open 2 corporate accounts (foreign and local) with a local bank of your choice.
- By Bank Transfer – Effect a bank-to-bank transfer of minimum foreign equity requirement, which will be converted into local currency (Ghana Cedis). This transaction should be confirmed to the Bank of Ghana by the investor’s local authorized dealer bank. Bank of Ghana in turn confirms this transaction to GIPC for the company’s registration purposes
- By Physical Cash– Physical cash carried into Ghana by individuals for investments should be declared on Bank of Ghana FORM T5 on arrival and subsequently deposited in a bank account within the shortest possible time. This transaction should be confirmed by your dealer bank and the Bank of Ghana.
Equity in Kind (Capital Goods)
In the case of equity in kind, in the form of imported machinery, equipment and goods, all documents covering such imports should be in the name of the registered company and evidenced by the following, which should be submitted to GIPC for registration purposes:
a. Bill of lading/ Airway Bill (originals)
b. Destination (Ghana) Inspection Certificate
c. Custom Bill of Entry (original document)
d. Import Declaration Form (IDF)
e. Certified/Final Invoices
f. Evidence of Capitalization – form 6 from the Registrar Generals’ Department
The original copies of all documents must be submitted.