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Registering a company in Ghana in 2020

Key business benefits of Ghana are:

  • High level of GDP;
  • One of the leading gold exporters in Africa;
  • Tax incentives;
  • A favorable environment for the establishment of a mining, tourism and IT company;
  • The minimum package of documents.

Business registration – from €6,900

Company registration period – from 3 months

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Ghana is a West African state located in the Gulf of Guinea. The state is a member of the Commonwealth of Nations.

Ghana is one of the 10 largest gold exporters in the world and the 2nd in the African continent. It is advantageous to register an export company in Ghana related to such products as:

  • cocoa;
  • wood;
  • fish;
  • bauxite;
  • aluminum;
  • manganese ore;
  • diamonds.

Also, you can register a travel company in Ghana. The most popular business spheres in this jurisdiction are: IT, food industry, jewelry and handmade, metal recycling, pharmaceutics, packaging production.

For more information, you can ask for individual advice on company registration procedure in Ghana from IQ Decision lawyers.

Legal forms

If you are planning to set up a business in Ghana and open an account with Ghanaian bank, you can choose one of the following options:

  • Opening a trading company in Ghana with a share capital of 1 million USD;
  • Setting up a LLC in Ghana. The main features of such a company are: all profits are taxed, financial reporting is necessary and it is possible to take advantage from DTA agreements. The required share capital is 500 thousand USD;
  • Buying an existing company in Ghana with a share capital of 500 thousand USD;
  • Registering a Free Zone LLC in Ghana with a share capital of 1 USD. Corporate tax rate is 0%;
  • Opening a JSC in Ghana with a share capital of 500 thousand USD.

Also, you can set up a RO or a branch (with a share capital of 500 thousand USD.

Registering a company in Ghana will take about 3 months. Terms of an approval of registration application: 30 days.

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If you have questions, you can receive qualified advice on bank account opening in Ghana. Also, IQ Decision experts will provide you with legal assistance in physical office registration in Ghana.

Registration requirements

If you are intended to set up a company in Ghana remotely and open a corporate account with Ghanaian bank, then you need to fulfill the following conditions:

  • The minimum recommended capital is 50 thousand USD;
  • Physical office is required;
  • At least two shareholders and two directors (one of directors should be a resident of Ghana);
  • Secretary is required.
Tax regime of Ghana:
  • Corporate tax rate: 25%
  • VAT: 15%
  • WHT on interest payments and dividends: 8%
  • WHT on royalties: 15%.
How to register a company in Ghana?

It is worth noting that it is not easy to open an account for a Ghanaian company, because local banks often refuse to cooperate with non-residents. IQ Decision experts recommend that you take a closer look at the following trusted banks, where it is possible to open a corporate account in Ghana remotely:

  • Bank of Africa;
  • GCB Bank Limited;
  • Ecobank;
  • Barclays;
  • Societe Generale;
  • Standard Chartered;
  • International Commercial Bank.

To learn more, you can request for personal advice on business organization process in Ghana and legal support services in opening an account for a company in Ghana from IQ Decision specialists.

The information outlined in the article is actual at the time of its publication. Please refer to our specialists for checking possible solutions for your business.

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