How To Start Business As A Foreigner In Ghana – Follow These Simple Steps

Are you an expatriate wishing to start a business in Ghana but don’t know how to go about it? Then, in today’s guide, we will feed you with a piece of detailed information on how to start a business in Ghana as a foreigner.

The flexible nature of Ghana’s laws keeps attracting investors all around the world.

Business Foreigners Can Not Do In Ghana

As a foreign investor, you’ll have to know the kind of business you cannot start in Ghana. Some businesses are solely reserved for Ghanaians, and they are:

1. The trading of anything in a market, including petty trading, hawking, or selling from a kiosk at any location. 

2. Taxi service operations and car hire service. (A non-Ghanaian may undertake this service provided he has a minimum fleet of ten new vehicles). 

3. All aspects of pool betting business and lotteries, except football pools. 

4. Operation of beauty salons and barbershops. 

Now that you know the kind of business you are not allowed to set up in Ghana consider setting up a business that is allowed to be operated by expatriates in Ghana.

How To Register Your Business In Ghana As A Foreigner

The steps below are guidelines on how a foreigner can register his/her business in Ghana:

1. Register With The Registrar General’s Department (RGD) 

To start your business operation in Ghana as a foreigner, you’ll have to register under the Registrar General’s department to gain the following:

1. TIN 

2. Certificate of incorporation

3. Company’s set of regulations

4. Certificate to commence business

2. Register With The Ghana Investment Promotion Centre (GIPC)

To successfully register under the Ghana Investment Promotion Center (GIPC), here are the things you need:

1. Minimum Equity Requirement – meeting the minimum equity requirement as applicable to the foreign business or project either by Direct Bank Transfer (to be confirmed by Bank of Ghana) or Goods (submission of Original CEPS entry forms covering those goods) 

2. Wholly Foreign-Owned Company – a company wholly owned by a foreigner is required to have a minimum capital of US$500,000 for business commencement in Ghana

3. Joint Venture With A Ghanaian – with this type of business, the foreigner is supposed to have a minimum capital of US$200,000 to help kick-start business

4. General Trading – setting up a trading business in Ghana as a foreigner, you’ll have to have a minimum capital of US$1,000,000 with proof of employment of 20 Ghanaian after commencement of business operation.

5. Goods/Equipment (Equity In-Kind) – in this case, equity in kind in the form of imported sophisticated machinery, equipment, and goods. Every documents in connection with such imports must be in the name of the actual registered instituition and evidenced by the following, which should be sent to GIPC for registration.

  • . A Bill of lading or air waybill.
  •  Certificate of inspection in Ghana
  • A Customs Bill of Entry documents
  • Import Declaration Form (IDF)
  • Approved/Final Invoices
  •  A Registrar Generals Department Evidence of Capitalization-form 6 from the 

Here are the types of companies that are exempted from the minimum equity requirement:

1. Manufacturing companies

2. Export trade companies

3. Portfolio investments

4. Foreign spouses of Ghanaians for a minimum of 5 years of marriage are also exempt from the minimum equity requirement.

5. Companies owned by Ghanaians living in Ghana or diaspora are also exempt from the minimum equity requirement.

The registration processing under GIPC takes five working days to complete, provided that the registration forms and all supporting documents are legit.

3. Register With Ghana Revenue Authority (GRA)

A foreign investor must register under the Ghana Revenue Authority to help fulfill tax obligations. 

You can contact the GRA via the following contact information for help.

1. Address – Off Starlet 91 Road Ministries Accra, P. O. Box 2202, Accra-Ghana

2. Telephone – (+233)80 090 0102, (+233)80 037 3374, (+233)30 290 4545(6)

3. WhatsApp – (+233)20 063 1664, (+233)55 299 0000

4. Email – info@gra.gov.gh

That is all we have for you on how to register your business in Ghana as a foreigner.

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