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Doing Business in Ghana
1. FACT SHEET
Ghana
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.
Company Incorporation in Ghana:
1. An LLC can be wholly owned and not less than two directors, at least one director must be resident
in Ghana.
2. In the case of joint ventures with Ghanaian shareholders, each non-Ghanaian must invest a
minimum of US$10,000
3. 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.
4. The Ghana Investment Promotion Center (GIPC) is responsible for registering all Enterprises in
Ghana.
Licensing in Ghana:
1. Incorporation of the Company 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:
1. The income tax rate applicable to non-resident individuals is 20% and the corporate tax rate is 25% -
30%
2. The tax paid on the capital gains is calculated after the company has sold its asset and VAT is 15%
3. Dividend tax rate is 8% of dividend to be paid to shareholders
2. FACT SHEET
Ghana
Type: Private Limited Liability Company
Under Ghana law, foreigners can own 100%
Share Capital
Services the stated capital is $500,000 and for
Trading the stated capital is $1bn.
Directors Minimum Two
Shareholders Minimum One
Memorandum and Articles of Association Yes
Can the entity hire expatriate staff in Ghana Yes
Secretary Minimum One
How long to open Corporate Bank Account One Week
Timeframe for Incorporation One month
Tax Registration Certificate Required Yes
Statutory audit required Yes
Annual Return Must be filed
Annual Tax Must be filed
Access to Ghana double tax treaties Yes
For more details, please contact bc@intuitconsultancy.com
You can also visit www.intuitconsultancy.com
![FACT SHEET
Ghana
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.
Company Incorporation in Ghana:
1. An LLC can be wholly owned and not less than two directors, at least one director must be resident
in Ghana.
2. In the case of joint ventures with Ghanaian shareholders, each non-Ghanaian must invest a
minimum of US$10,000
3. 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.
4. The Ghana Investment Promotion Center (GIPC) is responsible for registering all Enterprises in
Ghana.
Licensing in Ghana:
1. Incorporation of the Company 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:
1. The income tax rate applicable to non-resident individuals is 20% and the corporate tax rate is 25% -
30%
2. The tax paid on the capital gains is calculated after the company has sold its asset and VAT is 15%
3. Dividend tax rate is 8% of dividend to be paid to shareholders](https://image.slidesharecdn.com/factsheet-ghana-140711052141-phpapp02/85/doing-business-in-ghana-1-320.jpg)
