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- Setting up a company in Ghana requires a business entity to register their company in accordance with Ghanaian law. In this extensive three-part article series, we discuss the full process of incorporation in Ghana to help you understand the requirements, steps and costs involved.
thebftonline.com › 2021/03/17 › how-to-incorporate-a-company-1How to incorporate a company (1) - The Business & Financial Times
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As a foreigner intending to establish a business in Ghana, you may be confronted with varied and sometimes conflicting information on what the statutory requirements are and what are the benefits for establishing a business in Ghana. The Ghana Investment Promotion Centre Act (GIPC) outlines the fundamental requirements of Non-Ghanaians starting ...
- Samuel Baddoo
- General Framework For Investments
- Choosing The Corporate Vechicle
- Acquisitions
- Banking & Financial Services
- Capital Markets
- Insurance Industry
- Mining
- Petroleum
- Telecomes
- Protection of IP Rights
The Directive Principles of State Policy, prescribed under the 1992 Republican Constitution of Ghana, emphasise the encouragement of foreign investment in Ghana, subject to any law that is in force and regulates investment in Ghana. The Ghana Investment Promotion Centre (GIPC) Act 2013 (Act 865) and the Free Zones Act 1995 (Act 504), respectively, ...
In Ghana a local entity may be established by either: the incorporation of a private or public company limited or unlimited by shares (for profit) or by guarantee (not for profit); or by registration of an external company, i.e. a branch of a company (for profit or not for profit) incorporated outside of Ghana. The minimum capitalisation (either ca...
A company seeking to do business in Ghana may acquire an equity stake in an existing company (investee company). Such an acquisition does not obviate the obligation to comply with minimum capitalisation requirements. Where the industry or sector in which an investee company operates is regulated, the approval of the regulator may be required. Addit...
The BoG must approve any agreement or arrangement that would result in a change in the control of any bank, non-banking financial institution or their holding companies. Consequently the sale, disposal or transfer of 10% or more of the capital or voting rights of a firm (significant interest), an amalgamation or a merger requires BoG approval.
Ghana’s capital markets are regulated by the SEC, which has the legal mandate to protect investors and maintain the integrity of the securities market and the GSE. There is also the Ghana Alternative Market (GAX), which is a parallel market to the GSE and which focuses on small and medium-sized enterprises that have potential, including start-ups. ...
In the insurance sector, the acquisition or sale of a significant interest in an insurance company also requires the prior written approval of the National Insurance Commission (NIC). A significant interest is defined as any interest in the company that entitles a person to control 10% or more of the voting rights, dividends or share in any distrib...
The acquisition of a stake in a mining enterprise that vests in any person, either alone or with an associate or associates, control of more than 20% of the voting power at any general meeting of a mining company or of its holding company requires the approval of the minister responsible for mines. The Mining Act is being reviewed in order to tight...
In the upstream sector, there is a local content requirement for a non-transferable minimum of 5% shareholding by Ghanaian companies operating in the upstream sector. This requirement can only be waived on the authority of the Ministry of Lands and Natural Resources. The downstream sector in Ghana covers the import, export, re-export, shipment, pro...
In the communications sector, the National Communications Authority must approve the transfer of shares in a licensee company if the transfer would result in a change of control of that company and cause that company to breach licence terms relating to its ownership structure.
Ghana has legislation protecting intellectual property (IP) and is a member of the World Intellectual Property Organisation (WIPO) and a signatory to the under-listed WIPO-administered treaties including: 1. Singapore Treaty on the Law of Trademark; 2. Paris Convention for the Protection of Industrial Property; 3. Washington Treaty on Intellectual ...
Aug 5, 2021 · There are 6 main types of business entities in Ghana that you can choose from. Sole Proprietorship. This is very common in Ghana. Sole proprietorship consists of registering a business name under which a person’s business is to be run. It is governed by the Registration of Business Names Act, 1962 (Act 151).
May 10, 2021 · Setting Up Or Registering A Company In Ghana: What You Need To Know. INTRODUCTION. Incorporation of a company is the first step in registering a business in Ghana. For a business or a venture to attain a legal status it has to be registered in line with operating local laws within the jurisdiction within which it intends to operate.
Jul 16, 2020 · Under the laws, only the following forms of business entities are allowed to be registered: Limited liability company (local company) – This is a company limited by shares or guarantee incorporated under the Ghana Companies Act, 2019 (Act 992). A subsidiary can either be wholly or partly owned by a Ghanaian or a non-Ghanaian
May 1, 2017 · An investor is able to conduct a resident business entity as a limited liability company (local company). The local company by shares can incorporate under the companies Act, 1963 (Act 179). A foreign investor has an equal privilege to partly or completely own a resident business entity in Ghana.
The Local Manager must at all times be resident in Ghana. Procedure for registration. The Name and Objects have to be the same as the one Incorporated in the country of origin. Applicant may purchase and complete Forms 20 and 21 or download online.
