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How to Register a Firm in Ghana Successfully – Ultimate 2020 Guide

Filed in Articles, Tutorials by on June 23, 2020

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How to Register a Firm in Ghana Successfully – Ultimate 2020 Guide.

Register a Firm in Ghana: The get a business up and running with a license in Ghana, you would first have to fully register the business entity at the Registrar General’s Department (RGD). This article will walk you through the necessary steps needed to complete this.

Register a Firm in Ghana

There are numerous categories of business entities that you can get registered according to the stipulations of Ghana’s law.

It is imperative to decide on the proper legal structure that best serves your business intentions. These are the categories of business registration in line with the laws of Ghana;

  • Corporations restricted by shares
  • Corporations restricted by guarantee
  • Corporations with unlimited liability
  • International company
  • Sole proprietary business

With the automation at the Registrar General’s Department (RGD), business registration has become fairly straightforward.

All business registration forms are downloadable at http://rgd.gov.gh/index.php/forms/ or on-sale at GHS ten.00 at the RGD. Register your company in African country with ease, by merely following the steps made public below.

Registering an Organization Restricted By Shares in African Country.

Corporation name search at RGD.

Conduct your name search in African country to make sure the supply of the planned business name for the corporate. Company promoters could when the name search applies to possess their business name reserved for an amount of thirty days.

Get Tax Identification Number(TIN) registration for all the corporation staff such as the corporation manager, director, et.c and also for all the shareholders

Download TIN forms using this link: http://rgd.gov.gh/wp-content/uploads/2015/12/Taxpayer-registration-form-individual.pdf. All company administrators, secretary, and shareholders are needed to register and procure a TIN for the needs of business registration. Complete TIN forms and fix a replica of picture  ID (Drivers, passport bio-data, voters ID). TIN numbers are created at intervals twenty-four to forty-eight hours at no charge at any African country Revenue Authority workplace.

TIN numbers can even be created for company organizations. This case becomes necessary once the shares of the corporate being registered are controlled by a company entity. In such a situation, the company organization can acquire a TIN registration form for Organisations and dully complete the same and fix a letter of introduction. A TIN variety can be created for the company stockholder.

All persons or organizations are needed to possess one TIN no. for all their registered businesses; just in case you choose to register over one business entity otherwise, you function a director on many business organizations.

To complete one person’s TIN form, you should include the following  necessary information:

  • Name
  • Occupation
  • Photograph ID details
  • Mother’s family name
  • Residential and PMB address
  • Contact details

Tax Identification Number for Business Registration

The following forms would have to be completed next: Form 3,  form 4 and the form for the company regulations

After you have done those, you have to follow the procedures below:

i. Form 4 –  Returns of Particulars of the corporation or firm  which is restricted or limited by the number of shares

ii. Form 4- which is about the corporation, firm or company registration

iii. Private corporation or company’s rules and regulations which is limited by shares

Information needed to complete the incorporation forms embody

  • Registered address
  • P.M.B or P.O. Box address
  • Principal place of business
  • Business objects or activities
  • Company or corporation name
  • Contact details
  • Auditors details
  • Authorized and issued shares
  • Expressed capital
  • Holding structure
  • Personal details of administrators, secretary, and shareholders (nationality, date of birth, occupation, residential address)

As stated by the Companies Act 179, all companies or firms are needed to possess a minimum of 2 initial corporate administrators or directors and a secretary throughout the corporate registration method. A minimum of one among the corporate administrators or secretary should be live in Ghana.

After forms are rightly filled and cross-checked, the administrators, secretary and shareholders need to append their signatures on relevant pages before submission.

Pay Stamp Tax, Business Incorporation, and Filing Fees

There are two main statutory fees to be paid at the Registrar General’s Department throughout company registration; these are:

  • Stamp tax;
  • Incorporation and filing fees.

Stamp tax is 0.5 percentage whatever is indicated as the capital. For instance, if 500,000 Cedis has been indicated as the capital for the company,  the stamp tax of 0.5% of the indicated capital which would be (0.5 X 500,000). That would be 2,500 Cedis.

Please note that 500 Cedis is the minimum capital that is allowed for any limited liability company in Ghana. That is, a Ghanaian company.

Corporations or firms with joint-owned or funded by foreigners or which have 100 percent foreign possession have totally different minimum capitals. These type of companies have the following capital which must be indicated and proved:

  1. 100 percent foreign possession – five hundred thousand dollars
  2. The venture between foreigner and Ghanaian – two hundred thousand dollars
  3. Trading firms or companies (whether together in hand or 100 percent foreign owned) –  one million dollars
  4. Incorporation and filing fees also are needed to be paid upon submission of business registration forms.  At the RGD office, three hundred and thirty Cedis should be paid by cash

Business Registration Certificates

Upon submission of forms, one ought to expect to possess the method completed in a pair of weeks, when the subsequent documents are going to be issued;

  • Certificate of incorporation
  • Certificate of commencement `               `
  • Form 3 and form 4
  • Company laws

You should note that all of the documents are what is required in Ghana to ensure that your business is legal and can be fully operational. Make sure all the necessary information are provided as requested in these documents. You also should ask the necessary questions online and offline and only from authorized sources as they are in the right position to guide you as to what is legally obtainable.

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CSN Team.

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