Setting-up in Ghana

Please contact us for tailor made market intelligence for your business
For further information, visit
Statsghana.gov.gh
gipcghana.com
bog.gov.gh

We can help you identify the appropriate office location in the prime business centers in Accra.

YES.
We have a curated network of professional services that are key to your business establishment.

Talk to us about your land requirement for Manufacturing or real estate. We will work with you to provide a suitable solution

YES

We will provide you different business opportunities available in all the sectors for your evaluation

We are the only private investment Promotion agency in Ghana. Our aim is reduce the barriers to the flow of foreign investments and for that reason our fees are very affordable. Our initial consultations are free of charge. We charge you a minimal one time Engagement fee based on your Project afterwards we negotiate with you for an equity position for a successful Project. Please contact us for a quotation.

YES

Ghana is a strategically located to serve as the hub for the sub Saharan region. We can assist your company to locate trading partners and distribution networks in neighboring countries.

We are always open for partnerships and keeping in touch is a key priority we would be happy to serve you anytime in the future.

YES
If your Project Matches our criteria we will be happy to review your business and put it in front of our Investors who are looking to partner in Ghana. Please note . For efficiency, all Projects that require funding must be Eight figures and above.

Yes we are duly registered with the Registrar General‘s Department of Ghana.

We are a private Management and Business Consultancy Company

We are associated with the various Government institutions and Ministries, We can point you to which agencies you need to meet for your specific Project.

If you just want to make a first visit to Ghana to have a first impression we can help make a suitable agenda. a mix of tourism and Business meetings with the right people that will help you arrive at a concrete decision to invest in Ghana

YES
You may want to start lightly and test the waters depending on your industry. We can help you set up a representative office and represent your company until you fully establish .

Ghana is grouped into various sectors you can see more here

First register with the Registrar Generals Department and afterwards with the GIPC.

There is no such regulation, so far as the foreigner satisfies the minimum equity requirement. However the Act 865 states that, if the joint venture is with a Ghanaian, the Ghanaian partner should have a minimum of 10% shares in the company

This provision can be found in Section 28 of the GIPC Act.
For a joint venture, the minimum capital requirement is US$200,000.00 in cash or equivalent in capital goods relevant to the investment or a combination of both by way of equity participation. If the joint venture is between a foreign investor and a Ghanaian citizen, then the Ghanaian must not have less than 10% equity participation in the Enterprise.
For a 100% foreign owned company, the minimum capital requirement should be US$500,000.00 in cash or capital goods relevant to the investment or a combination of both by way of equity participation
For trading, the minimum capital requirement for an investor is US$1,000,000.00 in cash or goods and services relevant to the investments. A foreign investor involved in trading must also employ at least twenty (20) skilled Ghanaians in the trading enterprise.   Please take note of the fact that, other relevant applicable laws have equity requirements.

100% ownership of companies is allowed by law, so far as the investor meets the minimum equity requirement of $500,000, or as in trading $1,000,000.

Five (5) working days.
Section 24 (2) of the GIPC Act specifies that, the Centre shall within five (5) working days from the date of receipt of a completed registration form; register the enterprise if the Centre is satisfied that certain requirements have been complied with.
These requirements are that;
a)      All the relevant documents for registration are in order
b)      The minimum foreign equity capital requirement has been complied with; and
c)      The fees required for registration has been paid

Ghana’s Companies Code states that; an incorporated company may be either:

a) a company limited by shares (Ltd). The members’ liability is limited to the amount if any, unpaid on shares they hold
b) a company limited by guarantee – the members’ liability is limited to the amount they have agreed to contribute to the company’s assets if it is wound up
c) an unlimited company – there is no limit to the members’ liability
A company of any of the foregoing types may either be a private company or a public company.
Other business entities include; different types of Partnerships.
You are strongly advised to seek legal advice before deciding on the best entity that suits your kind of business.

Ghana’s 1992 Constitution, which is the basic framework for the governance of the country, offers guarantees for protection to investors and their investments. Chapter five of the Constitution embodies the relevant protection mechanisms.

Companies are guaranteed:
Unconditional transferability of dividends and net profits after tax to their home countries
Transferability of payments for loan servicing in the case of foreign loans and royalties and other fees in respect of technology transfer transactions e.g. licenses technical assistance and management contracts
the remittances of proceeds in the event of sale and liquidation of investment assets in the currency in which the investment was originally made to their home countries so far as they meet their tax obligations.

Article 20 of the Constitution guarantees protection from deprivation of property. Specifically, the Constitution states that there shall be no compulsory acquisition of property which by implication includes “investment”, except where such compulsory acquisition is necessary for the defense, public order, morality, health and benefit of the country. More importantly, compulsory acquisition of property must be accompanied by prompt, fair and adequate compensation.
Under the Ghana Investment Promotion Centre Act 2013 (GIPC ACT 865), investors are given concrete guarantees and assurances in respect of their investments in Ghana.

The GIPC Act offers guarantees against expropriation. Similar to the provisions in the Constitution, expropriation is allowed only in the national interest and must be accompanied by fair and adequate compensation. The aggrieved party or the investor is given the right of access to the High Court for the determination of the fair value of the investment and the amount of compensation payable.

Ghana is a beautiful Country and  a favorable choice for many Expatriates. Ghana has a flourishing expatriate community ranging from Embassy personnel, Oil and Gas Mining Workers, contractors, NGOs and many others. There are different nationalities and you are very likely to find groups or communities of your Country. You can join Pages like Accra expats on Facebook to connect with foreigners already living in Accra but we are happy to answer any questions you have concerning life in Ghana.

Ghana has been ranked officially as the most peaceful country in West Africa according to the global peace index. Ghana  has a low crime rate and poses very little safety concerns for expatriates. A conscious precaution of your new environment will keep you safe -for instance not walking alone in deserted places by yourself. Most apartments would have security guards on posts and there are burglar proof wires on most homes. There are however cases of minor thefts and pick-pocketing and it is important that you keep your wallet well in crowded places like open-markets and bus stations.

Weather you are looking for short or long term rental or buying a house we can help you according to your needs . You can browse around sites like https://meqasa.com/ to have an idea of what your ideal Home would cost. Expats in Accra for example tend to drift to neighborhoods like Cantonments, Airport residential Area, Osu, West Legon, East Legon, labone and Abelemkpe.

YES

There are different kinds of Hotels and restaurants in Accra that serve continental dishes. Aside that the Accra Mall which has international Supermarket chains like Shoprite stocks most of western Groceries and you can find almost everything you want to buy.

Accra is a fast growing Metropolitan city which offers a superb night life that creates a relaxing atmosphere to balance your work life. There are many top notch Restaurants, bars night clubs Sport bars . Osu Oxford street in Accra ranks as the most important night center for Accra.

yes

In case of emergency medical assistance in Ghana please dial 193 or 194.
Here are a list of Hospitals in Ghana

⦁ Korle-Bu Teaching Hospital
Opposite Korle bu Lorry station, Korlegonno, Accra 0303-267-3033/030-266-5740/41 Office Email: info@korlebuhospital.org Korle-Bu Teaching Hospital 0302-668-043/33 (Intensive Care Unit)
⦁ 37 Military Hospital
Independent Ave, near 37 Circle, Liberation Road Accra. 0302-769-667/0302-777-595 Office
⦁ Trust Hospital,
Oxford Street, Osu 0302-761-974/975 Office 0302-277-6787/8/9 Office 0302-277-7137/8/9 Office Email: info@trusthospital.com Web: www.trusthospital.com
⦁ Lister Hospital
Airport Hills, Marey Tsuru, off Spintex Rd Accra. 0302-812-325/6 Office 0244-313-881 Mobile Email: info@listerhospital.com.gh Web: www.listerhospital.com.gh

⦁ Tema Women’s Hospital Vertical Center in the Tema General Hospital Road,
Tema 030-330-4227 Office paulowusubaah@yahoo.com

Eye Glasses:
Gokals Optical Osu – Accra 0302-221-704 Office 0277-801-152 Mobile 0277-801-153 Mobile 0277-801-150 Mobile for Asembah
Robert & Sons Ltd. Optical Near Hardees 0302-770-242 Osu Office Email: info@robertandsonsltd.com Web: http://www.robertandsonsoptical.com/
0302-761-974 Office 0302-777-137 Office

Physiotherapy: Gesundheit Phys Practice 0244-757-139 Mobile(ask for Samuel, Physical Therapist) Email: snten2@yahoo.com

Laboratory:
Medlab Ghana Ltd. Drawing Station 2 nd Floor Akai House (same floor as Akai House Clinic) Ringway Estates
Trust Hospital Lab

You can drive in Ghana with an international Drivers License on a short term. Make sure you have that in your home Country before your departure.

The official language for all purposes is English. If you speak English you will get along almost everywhere as long as you perhaps speak a little slower. There are however over 40 local languages across the 16 regions of the country. The most commonly spoken amongst them is TWI. It is common to want to learn a few phrases of the local language and on your arrival at the Airport you will hear ‘’ AKWAABA’’ translating Welcome and ‘’Obroni ‘’ translating a white person.

Its a great quality of life
Ghana provides a welcoming environment for international business executives and their families. With a diverse range of affordable, highly attractive housing options, a first-class health service, a renowned education system and sporting a cultural heritage that is second to none, international executives relocating to Ghana enjoy a superb quality of life. We have a warm and welcoming people, and the English Language, widely spoken both in formal and informal environments is Ghana’s official language.

The daily minimum wage in in Ghana as of January 1,2020 is GHC11.82.

YES
Ghana boasts of a young and skillful workforce. There are Top Government and private universities as well as professional institutes that churn out quality workforce. We can assist you through our HR partners to hire the right talent for your Project.

Enterprise Invest offers a comprehensive service to our investors. We help you with all your Business visa applications, visas on arrival where necessary, VIP Airport pick-ups and Hotel short to long term accommodation services.

Contact us and lets arrange for you

Yes a short term permit is different from an expatriate quota.
A work permit is used synonymously with short term permit. Short term permits can be applied for and given for specific periods of time, normally not exceeding five years (5 years) at a time. They are not renewable, extendable or transferable.
To this effect, you must apply for the exact and specific duration you desire. Expatriate quotas on the other hand, once given are basically for an indefinite period, i.e. for as long as the investor needs to keep such workers in Ghana to facilitate his business. Once an expatriate quota is given, the beneficiary is also given resident permits for his or her dependents.
If an investor wants to bring in more foreign workers beyond four, then he or she would have to apply for a work permit for such additional numbers at the Ghana Investment Promotion Centre. This application would then be forwarded to the Ghana Immigration Service for consideration.

Our Team at EIG will deal with the Ghana immigration service on your behalf in securing all permits and residence for expatriate employees.

The General Corporate income tax (CIT) rate is 25%
Mining and upstream petroleum companies pay CIT at a rate of 35%, while companies principally engaged in the hotel industry pay a reduced rate of 22%.
The CIT rate for companies engaged in non-traditional exports is 8%, while banks lending to the agricultural and leasing sectors pay a CIT rate of 20% on income from those businesses.

YES

These are the strategic anchor industries such as Agro processing, Pharmaceutical industry, Integrated Aluminium Industry, Iron and Steel Industry, Auto mobile and Vehicle Assembly, Textiles, Garments and Apparel sector, Industrial Salt, Petrochemicals, Manufacturing of Machines and Machinery Components, Industrial Starch and Oil Palm Industry.

⦁ Other Regional Capitals – 10%
Outside Regional Capitals – 0%a) In the GIPC Act 2013 Act (865) there is no minimum capital requirements for investors entering the manufacturing sector as compared with the other sectors
b) Manufacturing industries located in regional capitals other than
Accra and Tema                                           – 25 % rebate
Elsewhere outside the regional capitals          – 50% rebate

c) After the initial 5-year tax holiday period, agro-processing enterprises, which use local agricultural raw materials as their main inputs, shall have corporate tax rates fixed according to their location as follows:
⦁ Accra-Tema – 20%
⦁ All over Northern, Upper East, Upper West Regions – 0%

The Ghana Investment Promotion Centre (GIPC) Act, 2013 (ACT 865) applies to all local and foreign investments in Ghana. Other relevant laws include but are not limited to the following;
the Technology Transfer Regulations (L.I 1547)
the Companies Code, 1963 (Act 179)
the Banking Act, 2004 (Act 673)
the Free Zones Act, 1995, (Act 504)
Environmental Protection Agency Act, 1994, (Act 490)
Ghana National Petroleum Corporation Law, 1983, PNDCL 64
Public Procurement Act, 2003, Act 663
Minerals and Mining Amendment Act 1994 (Act 475)
Constitution of the Republic of Ghana. 1992

NO
Section 44 (1) of Act 865 states that the Ghana Investment Promotion Centre Act, 1994 (Act 478) is repealed. However, Act 865 provides that, all enterprises registered under Act 478 (the old law) will continue to enjoy all benefits granted under the repealed law.
Subsequently Companies that were incorporated before Act 865 came into force but did not register with the Centre at that time will be registered under the new law now in force, Act 865.

The GIPC Act offers guarantees against expropriation. Similar to the provisions in the Constitution, Article 20, expropriation is allowed only in the national interest and must be accompanied by fair and adequate compensation. The aggrieved party or the investor is given the right of access to the High Court for the determination of the fair value of the investment and the amount of compensation payable.

Ghana’s legal system takes its root from the British common law tradition and it is supplemented by various legislations on specific issues. Accordingly, Ghana’s legal system has all the attributes and safeguards for the protection of property and human freedom, all of which are inherent attributes of the common law tradition.

Ghana is NOT ruled by military decrees. Ghana has had a freely elected democratic government since 1992

Similar to the United States Constitution and the British legal tradition, Ghana’s Constitution guarantees the independence of the judiciary. Under the Constitution, the judiciary is subject only to the Constitution and is, accordingly, insulated from interference by the President and impliedly other members of the Executive, the Legislature and other government bodies and in the exercise of its administrative, financial and judicial functions, it is not subject to the Control of any authority. This protection mechanism is designed to give the judiciary the freedom to handle cases in a firm and fair manner devoid of political, racial, religious or other considerations

Ghana’s judiciary comprises very seasoned lawyers with specialization in various areas of the law. They are singled out for appointment to the judiciary on the basis of their excellent performance at the Bar. Similar to the United States Constitution and the British legal tradition, Ghana’s Constitution guarantees the independence of the judiciary
The institution of the fast track court and the introduction of Alternative Dispute Resolution Mechanisms such as arbitration, mediation and conciliation (ADRS) within the Courts system are all attempts to enhance the work of the judiciary and to generate the necessary confidence in the legal and judicial systems.

The period to settle a dispute depends on the available information that the prosecutors have. But there are fast track and commercial courts which deal with cases involving commerce and investments expeditiously. In addition, disputes can be settled under Alternative Dispute Resolution Mechanism, such as arbitration, mediation and conciliation.

Within the National Court System, ADRs, as a mechanism for dispute settlement is vigorously encouraged. The Ghana Arbitration Centre (GAC) has been established to reinforce the legal framework for protecting commercial or economic interests and accordingly inspire the confidence of the prospective investor in Ghana.
The Ghana America Chamber of Commerce in Ghana has also established a Forum for Mediation and Conciliation.

This is done in very exceptional cases, mostly in the strategic industries

Ghana offers commitments at the bilateral level to protect investors and their investments. Under these bilateral regimes, government gives the right to the investor to take government to arbitration in any of the selected and pre-agreed dispute settlement fora.
Further protection under the BITs include: national treatment, which is by reference to treatment similar to that accorded to nationals of the host country; most favored nation treatment, which is by reference to the standard of treatment not less favorable than that accorded to nationals and investments of third countries in similar circumstances; and treatment which is fair and equitable which is derived from basic principles of international law and a common shared sense of justice.

In furtherance of the investment promotion mandate given under section 3 of the Ghana Investment Promotion Centre Act 2013 (Act 865), the Ghana Investment Promotion Centre is mandated to encourage and promote investments in the Ghanaian economy through the negotiation of Bilateral Investment Treaties with interested countries.

To date, Ghana has concluded over twenty one (21) BITS. Some of the agreements have been ratified while others are still awaiting ratification.
Those signed and ratified include:
The United Kingdom and Northern Ireland
The Kingdom of Denmark
The Federal Republic of Germany
The Peoples Republic of China
The Swiss Confederation
The Republic of Malaysia
The OPEC Fund
The Kingdom of the Netherlands
Those signed but awaiting ratification are
The Republic of Romania
The Republic of La Cote d’ Ivoire
The Republic of Yugoslavia
The Republic of South Africa
The Republic of Mauritius
The Republic of Zambia
The United States of America (OPIC)
The Republic of Egypt
The Republic of Bulgaria
The Republic of Cuba
The Republic of France
The Republic of Guinea
The Republic of Mauritania
The Republic of Burkina Faso
Ghana has also concluded Double Taxation Agreements with;
France
The United Kingdom
Belgium
Italy
Germany
South Africa
Switzerland
Netherlands

YES
Ghana uses the instrumentality of Double Taxation Agreements to rationalize the tax obligations of investors who come from global tax sourced jurisdictions with a view to saving the affected investors from the incidence of double taxation by both their home governments and the host country. Ghana is committed to entering into DTAs with interested countries with the ultimate objective of freeing investment capital and thereby securing the investment capital from being eroded by the effects of taxation.
Ghana has concluded Double Taxation Agreements with the following countries:
France
The United Kingdom’
Belgium
Italy
Germany
South Africa
Switzerland
Netherlands

YES .

YES .

YES .

The President of the Republic of Ghana, His Excellency,  Nana Addo Dankwa Akufo-Addo and the Government recognizes the private sector as the bedrock for economic development. Government has therefore instituted several measures to create the enabling environment for the private sector to operate easily and profitably. Some of these measures included:
The President has, in pursuance of this vision, appointed a Minister of State who is responsible  for Business Development as a link between the Cabinet and the Private Sector operators
The positive encouragement of investors through the activities of the Ghana Investment Promotion Centre, the Ghana Free Zone Board, which offers tax, tariff and other regulatory relieves to enable exporting enterprises to produce goods at low cost and to achieve globalized manufacturing status.
There is a liberalized Technology Transfer Regime, which aims at promoting technological skills and management expertise in local enterprises;
the financial market has been Liberalized
There are incentives, which are carefully designed to attract investors (both foreign and Ghanaian); to reduce financial risks to investors; to free investment capital and; to reduce high start- up costs;
The liberalization of the laws and regulations controlling the entry and establishment and the principle of national treatment which permits unrestricted foreign participation in all sectors of the economy with the exception of unsophisticated activities with low capital outlays;
The ongoing privatization program, which involves total or partial transfer and control of publicly owned assets to private sector investor or entities (both foreign and Ghana);
The effective organization of the private sector associations i.e. the sectoral Chambers of Commerce, the Association of Ghana Industries and other business associations under the umbrella of the Private Enterprise Foundation (PEF), an apex institution with mandate to play an advocacy role on behalf of the private sector.
The commitment of government to contribute to the achievement of economic integration and investment liberalization within the ECOWAS sub-region with a view to increasing market size;
The Gateway project, which is mandated to remove all legal, institutional and procedural impediments to the development and growth of the Private Sector in Ghana.