How to Register a Company in Ghana as a Foreigner

How to Register a Company in Ghana as a Foreigner

Acheampong Associates

Acheampong Associates

Registering a company in Ghana as a foreigner offers exciting opportunities for growth and expansion in the vast African market. Ghana has become a hub for foreign investors and businesses looking to expand. Combined with a growing population and its unique location in West Africa, the country provides a friendly business environment for investors. In Ghana, business laws are in accordance with international standards and best practices. They cover all aspects of business, including copyrights, patents, trademarks, dispute resolution, and labor relations. Investments are significant to Ghana’s economic growth, so the government is committed to providing a conducive environment for them.

It is very simple to register a company in Ghana, but it can be quite confusing if you do not understand the procedures and procedures that apply to foreign nationals. The challenge most investors go through is the bureaucratic process of registering a company in Ghana. The registration models and procedures vary depending on the business and the registration option an investor opts for.

There are two phases to the registration of a company in Ghana, each with its own set of requirements. The first step is the registration of a company owned entirely by a foreigner. A second step involves registering the company to meet additional licensing requirements if so required. 

Business Registration in Ghana

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It is however mandatory for all businesses with foreign participation to register with the Ghana Investment Promotion Centre (GIPC) for investment certificates and other permits. Companies must prove that they have brought in the minimum investment amount either in cash or capital goods or a combination of both. This is required before they can register with the GIPC and open an account in Ghana. The minimum investment requirements are set out below as follows:

WHOLLY OWNED FOREIGN COMPANY 

For Service Industry
Such as Construction and Civil Works;
(i) Minimum of five hundred thousand US Dollars (USD 500,000) in equity i.e Ghanaian Cedi equivalent for the foreigners at the Prevailing Bank rate
(ii) Applicants are to pay a 1% stamp duty on the stated capital at the time of Incorporation

For Trading Industry
Such as general Trading, Importers, Dealers in General Goods and Retail Trading, Manufacturer’s Representatives; a
(i)Minimum of One Million US Dollars(USD 1,000,000)in equity i.e. Ghanaian Cedi equivalent for the foreigners at the Prevailing Bank rate. They must employ at least 20 Ghanaian skilled workers.
(ii) Applicants are to pay a 1% stamp duty on the stated capital at the time of Incorporation.

COMPANY WITH GHANAIAN PARTICIPATION

This second option is available to investors that have local partnerships with Ghanaians. 

Service Industry
(i) Foreign Applicants must have a minimum of two hundred thousand US Dollars (USD 200,000) (Stated Capital) i.e cedi equivalent at the prevailing Bank rate
(ii)Ghanaian applicant must have 10% equity participation of the company at the time of incorporation
(iii) Applicants are to pay a  1% stamp duty on the stated capital at the time of Incorporation

Trading Industry
Such as general Trading, Importers, Dealers in General Goods and Retail Trading, Manufacture’s Representatives
(i)Foreign Applicants must have a minimum of one million 1,000,000 US Dollars (USD 1,000,000) in equity i.e cedi equivalent at the prevailing bank rate. It makes no difference if a Ghanaian has a stake.
(ii)Ghanaian applicant must have 10% equity participation of the company at the time of incorporation
(iii)Applicants are to pay a 1% stamp duty on the stated capital at the time of Incorporation

A smooth and successful establishment depends on adhering to all legal requirements and approaching the registration process diligently. In order to ensure compliance with Ghanaian laws and regulations, it is highly recommended that you seek professional advice and guidance from local experts. International entrepreneurs can benefit greatly from Ghana’s business landscape if they conduct thorough research and take the necessary steps.

With decades of experience, Acheampong & Associates has carved a niche for itself as one of the leading consulting firms in Ghana assisting both locals and foreigners on How to Register a Company in Ghana as a Foreigner. We can assist you with all information regarding company registration in Ghana. Our team of experts is ever ready to give you the best and most accurate information regarding company registration. Contact us today for all your company registration assistance. 

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