Company Formation in Ghana | Business Registration in Ghana | IMC
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SET UP A BUSINESS IN GHANA

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Ghana officially called the Republic of Ghana; it is a multinational state and unitary presidential constitutional republic, located in the sub region of West Africa. Ghana’s wealth of resources, democratic political system and vibrant economy, makes it undoubtedly one of Africa’s leading lights. Gaining the world’s confidence with a clam political transition and a grounded and firm commitment to democracy has helped in expediting Ghana’s growth in foreign direct investment (FDI) in the latest years. Ghana has attracted the interest of well-known international businesses, investing in all sectors of economy. All these investors have come to Ghana because they know that Ghana have a wonderful favorable social, political and economic environment in which they can invest, develop and be successful. Scroll down to read more on the procedures for a company formation in Ghana.

 COMPANY FORMATION IN GHANA

  • An LLC can be wholly owned and not less than two directors, at least one director must be resident in Ghana.
  • In the case of joint ventures with Ghanaian shareholders, each non-Ghanaian must invest a minimum of US$10,000
  • All firms must require an auditor, who should be a member of the Institute of Chartered Accountants, but should not be an officer or servant of the firm or be an employee or partner of such persons.
  • The Ghana Investment Promotion Center (GIPC) is responsible for registering all Enterprises in Ghana.

COMPANY REGISTRATION IN GHANA- LICENSING

  • Incorporation of the Company in Ghana is done at the Registrar General’s Department. License to operate business is to be applied for from the Accra Metropolitan Assembly [AMA] after incorporation.

 ACCOUNTING AND TAX FOR COMPANY REGISTERED IN GHANA

  • The income tax rate applicable to non-resident individuals is 20% and the corporate tax rate is 25% – 30%
  • The tax paid on the capital gains is calculated after the company has sold its asset  and VAT is 15%
  • Dividend tax rate is 8% of dividend to be paid to shareholders

TypeLimited Liability Company
Under Ghana law, foreigners can own100%
Share CapitalServices the stated capital is $500,000 and
for Trading the stated capital is $1bn.
DirectorsMinimum Two
ShareholdersMinimum One
Memorandum and Articles of AssociationYes
Can the entity hire expatriate staff in GhanaYes
SecretaryMinimum One
How long to open Corporate Bank Account1 -2 Weeks
Timeframe for Incorporation5 – 6 Weeks
Tax Registration Certificate RequiredYes
Statutory audit requiredYes
Annual ReturnYes
Annual TaxYes
Access to Ghana double tax treatiesYes