Are you a new business owner or do you want to create a business in Ghana but do not know the methodology of how to register a company in Ghana? Well, registering a company in Ghana follows quite a well-planned methodology that is easier if followed well.
In this article, we will talk about all that you need to know on how to register a company in Ghana.
Before starting a business in Ghana, you must have a business entity. Thereafter proceed to legalize the business entity at the Registrar General’s Department (RGD). Under the laws of Ghana, various forms of business entities can be registered and it is therefore imperative to choose the right legal structure that is best for your business.
What companies can you register in Ghana?
There are different available protocols for different companies in Ghana. Certain companies to be registered in Ghana are sometimes categorized according to the nationality of the owners or the very nature of the company. Below are the different types of companies which are considered for registration
- Company Limited by Shares(Private and Public)
- Company Wholly Foreign
- Company with Foreign Participation
Which Institution is in charge of registration?
The Registrar General’s Department is the governmental institution mandated by law to ensure the registration of Businesses, Industrial Property, Marriages, Administration of Estates, and Public Trust, providing friendly services and accurate data for national and economic development. The institution is also to lay down the facility on how to register a company in the country.
How to register a company in Ghana – A company limited by shares
A company limited by shares is an association between two and fifty people with a set of objectives to either profit or not make. Some shareholders are the owners of the company and directors, secretaries, and auditors who are the officers of the company.
How do you apply to register such a company?
Applicants who seek to register a company limited by shares must
- Purchase a set of Limited Liability Forms from an internal bank at the Registry’s offices or buy them online HERE
- Provide a consent letter from a certified auditor by the Institute of Chartered Accountants, Ghana, and must be registered as a Sole Proprietor or a Partnership
- Have their third form witnessed by Commissioner for Oaths/Notary Public/Self-Declared
- Be headed by a minimum of two directors with each submitting a Statutory Declaration & Consent Letter with the registration form
- Submit filled forms at the Company Registration Counter for Verification and Capturing or online using HERE
- Pay two hundred and thirty Ghanaian Cedi (GHS 230) for Incorporation and also pay a Filing fee of Fifty Ghanaian Cedis (GHS 50) and 0.5% stamp duty on stated capital at the in-house bank
How to register a company in Ghana – a wholly foreign company
A wholly foreign company is a company whose owner and management are foreigners and not Ghanaian nationals. Such individuals should take note of the methods of how registering a company in Ghana. A wholly foreign company is classified into
- Service Industry
- Trading Industry
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How to register a service industry
The method how to register a company in Ghana exclusively for a service industry owned wholly by a foreigner such as Construction and Civil Works is below
- Applicants must have a minimum of five hundred thousand US Dollars (USD 500,000) in equity which can be paid in Ghanaian Cedi equivalent for you at the Prevailing Bank rate
- Applicants are to pay a 0.5% stamp duty on the stated capital at the time of incorporation
How to register a trading industry
Requirements on how to register a company in Ghana as a foreigner owning a trading company like trading, importers, dealers in general goods and retail trading, and manufactures representatives are
- Applicants must have a minimum of One Million US Dollars (USD 1,000,000) in equity thus in Ghanaian Cedi equivalent for the foreigners at the Prevailing Bank rate
- Â Applicants are to pay a 0.5% stamp duty on the stated capital at the time of Incorporation
How to register a company in Ghana – Company with Foreign Participation
A company with foreign participation could be and so these are the requirements to register them
- Service Industry
- 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
- Ghanaian applicants must have 10% equity participation in the company at the time of incorporation
- Applicants are to pay a 0.5% stamp duty on the stated capital at the time of Incorporation
- Trading Industry
- 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
- Ghanaian applicants must have 10% equity participation in the company at the time of incorporation
- Applicants are to pay a 0.5% stamp duty on the stated capital at the time of Incorporation
These are the requirements and proceedings to take note of while seeking to register a company in Ghana at the Registrar General’s department.
