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For some of these entrepreneurs, it’s just plain ignorance; they don’t know or understand the importance of a getting a business registered. The others, who aren’t totally ignorant, just choose to avoid the upfront cost of registration when they start their business. It is a basic requirement to register your business in Ghana.
Business registration is the process of obtaining legal authorization to conduct business within your chosen jurisdiction. It is a legal obligation of most jurisdictions and ensures that a business is operating under the lawful obligations of its control. There are a number of formalities that must be completed prior to completion of the business registration stage.
It is important to submit a range of documentation, including certifications and professional references, as well as a detailed outline of the structure of the company. In addition, the company must present a proposed company name that complies with the jurisdiction’s legal requirements, which will be assessed by that jurisdiction’s registrar general.
These are the simple steps to follow to register the different types of businesses in Ghana.
INCORPORATION OF LIMITED LIABILITY COMPANIES
Registrar Examines, Approves & Issues :Certificate of Incorporation, Certified Copy(CTC) of Standard/Registered Constitution of the Company, and Certified Copy(CTC) of Form 3
COMPANIES LIMITED BY GUARANTEE
This is a company that has the liability of its members limited to amounts that they respectively undertake or guarantee to contribute to the assets of the company in case of liquidation. The company is also not permitted to make profits, for example social enterprises, non-governmental organizations (NGOs), churches and charities
A minimum of two directors/executive members is required. Each must submit Statutory Declaration & Consent Letter with the registration Form. A minimum of one subscriber is required, Secretary (Corporate Body Acting as A Secretary/ Individuals) required. Private Company Limited by Guarantee can have 2 to 50 members
EXTERNAL COMPANY
It is branch of an existing company usually registered by a Local Manger on behalf of the company registered outside the jurisdiction of Ghana, who wants to own a branch or place of business in Ghana.
Submit the completed Forms at any RGD office or process it via Online
Pay prescribed fee of US$1200 or cedi equivalent.
9. The Registrar examines registers and notifies the local manager in writing.
10. The Registrar issues: certificate of Registration, Form 20 & 21
11.Filling of annual returns each year at US$600 or Cedi equivalent with Group Account
INCORPORATION OF PARTNERSHIP
Submit filled forms at the Partnership Registration Counter for Verification and Capturing or via Online
Pay processing fee of GHS160.00 at the in-house bank or via Online
Registrar Examines, Approves & Issues Certificate Incorporation, ss well as CERTIFIED TRUE COPY(CTC) of Form B
BUSINESS NAMES/SOLE PROPRIETORSHIP
Applicant may pick up a prescribed Form A from the in-house bank at GH 3.50cedi.
Submit filled forms at the bank in addition with a processing fee of GH60.00 cedi
Registrar examines and issues business registration certificate as well as certified true copy of the form to be submitted as attachment
Renewal each year at GH 25.00 cedi.
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Source : African Media Agency (AMA)