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

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

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