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How to REGISTER your BUSINESS IN GHANA

November 4, 2020

In Africa, up to 70 percent of people who regard themselves as ‘entrepreneurs’ do not own a registered business.  How can anyone say they own a business when it doesn’t really and legally exist?

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

  1. Applicant may purchase a set of Limited Liability Forms from the in-house bank at GHS50 or download .
  2. Form 3 must be witnessed by Commissioner for Oaths/Notary Public/Self-Declared
  3. Consent letter from qualified Auditors of the Institute of Chartered Auditors.
  4. A minimum of two directors is required. Each must submit Statutory Declaration & Consent Letter with the registration Form
  5. Submit filled forms at the Company Registration Counter for Verification and Capturing or via Online
  6. Pay a prescribed fee of GH 230 cedi, filing fee of Fifty Ghanaian Cedi (GHS 50) and a 0.5 % stamp duty on stated capital.
  7. Registrar Examines, Approves & Issues :Certificate of Incorporation, Certified Copy(CTC) of Standard/Registered Constitution of the Company, and Certified Copy(CTC) of Form 3

  8. File Annual Returns at Fifty Ghanaian Cedi(GHS 50) together with Audited Account

    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

  1. Applicant may purchase a set of prescribed regulations and a set of Form 3A from the in-house bank at GHS 50 or Download
  2. Provide Consent letter from certified auditor by the Institute of Chartered Auditors
  3. 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

  4. Form 3A must be witnessed by Commissioner for Oaths/Notary Public/Self-Declared
  5. Submit filled forms at the Registrar General Dept or via Online
  6. Pay processing fee of GHS270.00 at the in-house bank or via Online
  7. The registrar issues Certificate of Incorporation, Certified Copy(CTC) of Standard/Registered Constitution of the Company, Certified Copy(CTC) of Form 3A
  8. File Annual Returns at Fifty Ghanaian Cedi(GHS 50) together with Audited Account

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.

  1. Applicant may purchase and complete Forms 20 and 21 or download
  2. Submit  A CERTIFIED TRUE COPY(CTC) of the Memorandum and the Articles of the Association of the Company registered outside Ghana in English
  3. A CERTIFIED TRUE COPY(CTC) of the Certificate of Incorporation.
  4. Power of Attorney Local Manager
  5. Constitutions of the External Company
  6. Documents must be duly endorsed by the Ghana Mission in the Country if any or the nearest country where there is Ghana Mission.
  7. Submit the completed Forms at any RGD office or process it via Online

  8. 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

  1. Applicant may purchase and complete Form “A” for Incorporation of Partnership from the in-house bank at GH 3.50 cedi or Download .
  2. Provide stamped Partnership agreement at Land Valuation Board
  3. Submit filled forms at the Partnership Registration Counter for Verification and Capturing or via Online

  4. Pay processing fee of GHS160.00 at the in-house bank or via Online

  5. Registrar Examines, Approves & Issues Certificate Incorporation, ss well as CERTIFIED TRUE COPY(CTC) of Form B

  6. File Annual Returns at Fifty Ghanaian Cedi(GHS 50) together with Audited Account

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.

The post How to REGISTER your BUSINESS IN GHANA appeared first on Ghana Talks Business.

Ghana Talks Business

Source : African Media Agency (AMA)

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