Understand the Jurisdictions Setup Requirement Before Proceed Your Company Registration in Ghana
Are you looking forward to starting a new company in the well-flourished economy of Ghana? It seems that a lot of people from different countries tend to choose Ghana to start their new venture for various opportunities such as its economy, government subsidies, and many more. However, there are certain things that you need to keep in mind before you move ahead with the company registration in Ghana. It is not an easy task to register a new company when you are not aware of the rules and regulations of the country.
Why Choose for Company Registration in Ghana?
The African country, Ghana, is known for supporting a lot of budding entrepreneurs and is considered to be the central hub for all the business activities of the African continent. Not only just that Ghana is also the gateway for European as well as American entrepreneurs. The company registration in Ghana is also popular because of being the leading producer of various natural resources such as cocoa, oil, gold and many more. For all these reasons, Ghana has become a prominent region to launch and invest in new ventures.
What Benefits Can You Get Through Your Company Registration in Ghana?
- The democratic government of Ghana allows entrepreneurs to put forward your views and suggestions to modify the rules and regulations of the country to yield maximum profit. This shows how the government is inclined to encourage business people to start their companies here.
- The platform for advertising businesses in Ghana is amazing. The media helps to effectively promote ventures through the entire possible medium available in regional as well as global markets.
- To elevate the social and economic condition of the people, Ghana needs some very good and smart business ideas. Entrepreneurs can utilize this opportunity to launch their new company.
- In a couple of decades, it has been observed that Ghana has been the most peaceful region in the entire African continent. It provides a suitable business environment for all the people who are planning for company registration in Ghana.
What is the Complete Procedure That You Need to Follow for Company Registration in Ghana?
Get a Name for Your Company
When you proceed with the company registration in Ghana, you need to make sure that your company name has not been used by any of the local or international businesses in the country. You can check the availability of the name at the Registrar General’s Department (RGD). The entire procedure is completed in one to five days. For a private company, the name should end with “Limited” (Ltd.). Keep an alternate name with you as well if, in case, your suggested name gets rejected by the RGD.
Members of the Company Must Acquire Their TIN
Before the company registration in Ghana, it is essential for all the individuals who are involved with the company to acquire there Tax Identification Number (TIN). The Ghana Revenue Authority (GRA) provides the TIN within 3 working days. You need not have to pay any extra charges for registering with GRA.
Get your TIN application approved by GRA you need to submit a copy of the passport bio, national ID, DL (Driving Licence), and Voter ID card.
Fill the RGD Forms
It is important to fill all the forms that are provided by the RGD.
- Form 3- In this form, you need to mention the aim of the company along with the postal address of the company, and the official contact number. Further, you are required to provide a personal fact about the members of the organization (manager, accountant, and assistant).
- Form 4- In Form 4, you only need to provide information about the manager and assistant of the company.
- Regulations – While filling the form about the regulations of the company you have to mention the total shares owned by your company, the name of the shareholders along with their percentage of ownership in terms of shares. The company must have at least GHS 500 shares during the company registration in Ghana.
- If you are facing any issue while forming the regulations of your company in Ghana then you can always take the help of a regional lawyer to form the regulations of your company.
Registration Charges and Capital Fees
As the owner of the new company, you will be liable to pay the charges for the registration as well as the duty fee to the RGD. All the formalities related to payment are conducted once you successfully submit all the above-mentioned papers. The capital fees depend on the net worth of your company, i.e., 0.5% of the company’s declared holdings.
Process of Verification and Filing
The final step of company registration in Ghana includes the process of verification and filing. It is taken care of by the Registrar General’s Department of the country. It is initiated once you finish off the required payment procedure. In a couple of weeks, you will receive the license of incorporation and business commencement along with the authentic papers of all the forms that you have filled in the process of company registration in Ghana.
From Where Can You Get Assistance With the Company Registration in Ghana?
You can use the services of 3E Accounting whenever you are ready to invest in company registration in Ghana. Our services are very reasonable and fair to all types of entrepreneurs. We guide all the new entrepreneurs to understand the complete registration procedure of starting a company in the foreign land. If consumers require any help, they may contact us for assistance or services.
Get in touch with our executives and we will ready to support in every way we can!