Visit the following link for more information: http://www.moti.gov.gh/home/
There is custom duty exemption for agricultural and industrial plant, machinery and equipment imported for investment purposes as contained in chapters 82, 84, 85, and 92 of the Customs Harmonized Commodity and Tariff Code. However, with the exception of goods imported specifically for the Educational, Health and Agricultural sectors, all import duty-exempted goods attract the relevant processing and/or other related fees or levies ranging between 0.5% and 1.0%.
Import duty is imposed on vehicles depending on the type of vehicle. All motor vehicleswith cylinder capacity not exceeding 1900 attracts an import duty rate of 5%. Motor vehicles of cylinder capacity exceeding 1900 but not exceeding 3000 attract an import duty of 10%. Other vehicles of cylinder capacity exceeding 3000 and those designed for traveling on snow, golf cars and similar vehicles attract an import duty of 20%.
Commercial vehicles for the transport of goods such as trucks, tippers and lorries attract a duty of 5%.
Commercial buses with seating capacity of above 30 passengers, workshop vans, breakdown vehicles, mobile showrooms, ambulances, hearse and motor bikes are exempted from the payment of import duty.
All the type of vehicles referred above attracts a Value Added Tax (VAT) rate of 12.5%, except ambulances, which are VAT-exempt.
Exemptions may be granted from payment of customs import duty and other related charges for any special equipment that is not zero-rated upon application to the GIPC.
Source: Customs, Excise & Preventive Services
Resource-based activities in agri business, agro processing-fish, (fruit, vegetables, food crops and wood products): minerals processing of gold, diamond and salt; manufacturing and tourism
Think GHANA, your Gateway to West Africa.
We offer an ideal environment. All sectors of the economy are open to foreign investment, and 100% foreign ownership is permitted. Also, we boast of the most stable political climate in Africa.
For more information, please go to the GIPC website.
Application for registration of a company is made directly, or through agents or solicitors, to the Registrar-General. A company is duly registered after the company's regulations have been submitted to the registrar of companies and a certificate of incorporation issued. A specified fee is paid on presentation of the regulations. The information required includes:
The declaration of compliance is made on Form No. 4. This states that the conditions of section 28 of the Companies Code pertaining to a minimum capital issue of 25,000 cedis (C) has been paid and signed by all directors and the secretary of the company. There is a stamp duty of 0.5 per cent of capital issue payable. Upon due completion and presentation of the forms, the registrar issues the company with a certificate of commencement of business.
An entrepreneur, irrespective of nationality, can set up a business enterprise in Ghana in accordance with the provisions of any of the following legal instruments:
A foreign investor may team up with a Ghanaian entrepreneur or company for a joint venture, usually in the form of a partnership or a limited company. However, under the Ghana Investment Promotion Centre Act, 1994 (Act 478), a minimum equity capital of US$10,000 is required from any foreign investor who intends to enter into a joint venture partnership with a Ghanaian in any area of economic activity, except trading. In trading, the minimum equity capital requirement is US$300,000.
The foreign shareholder is required to satisfy this minimum equity capital either in cash transferred through Ghana's banking system or its equivalent in the form of goods, plant and machinery, vehicles or other tangible assets imported specially and exclusively to establish the enterprise. A Destination Inspection Report issued by an accredited inspection company, stating the value and condition of the goods, must cover the imported items. Consideration for goodwill of a business or services rendered by partners cannot be used to satisfy the minimum foreign equity capital.
Foreigners are permitted 100-per-cent ownership of an enterprise provided the investor satisfies section 19 (2b) of the GIPC Act, 1994 (Act 478). Wholly foreign-owned enterprises must have a minimum paid up capital, the equivalent of US$50,000 in all areas of economic activity except import trading, where the minimum equity capital requirement is US$300,000. In the cases of export trading and liaison (external) offices, there is no minimum foreign equity requirement.
An external company is a body corporate formed outside Ghana but which has an established place of business in Ghana. This can take the form of a branch, management, share, transfer, registration office, factory, mine or other fixed place of business, but does not include an agency unless the agent is authorized to negotiate and conclude contracts on behalf of the outside company.
Within one month of the establishment of the place of business, the external company should deliver to the registrar of companies the following:
An English language translation of a certified copy of the charter, statutes, regulations, memorandum and articles or other instrument constituting or defining the constitution of the company, statement of the following in duplicate:
Alterations made in the charter, statutes, regulations, articles or other instruments used in registration should be delivered to the registrar within two months of the effective date of the alteration.
The various forms required for registration of companies are obtainable from the Registrar-General. Prospective investors should obtain competent professional advice on the type of company, which may best meet their needs. Such advice is obtainable from:
P.O. Box 118
Tel: (233-302) 662043/664691
Visit the following link for more information: http://www.gipc.org.gh/pages.aspx?id=48
Limited Liability Companies must file annual returns with the Registrar of Companies showing its audited balance sheet and profit-and-loss statement after 18 months of incorporation.
The two main seaports at Tema and Takoradi handle most of Ghana's imports and exports respectively. Both ports have undergone extensive rehabilitation, which has improved efficiency. The turnaround time for ships at Ghanaian ports is now one of the quickest in West Africa and the tonnage handled has also increased significantly.
The African Growth & Opportunity Act currently accords over 7,000 products exported from eligible 35 Sub Saharan Countries (including Ghana) preferential tariff treatment, i.e., duty-free and quota free to the American Market. The only condition under this non-reciprocal Trade Agreement is that such goods ought to be certified by Customs Authorities as goods, which are truly products of Ghana.
March 2002 Ghana has been approved to receive the textile and apparel benefits
under the AGOA after having established an effective VISA System. Prior to the
approval CEPS had brought into force new Regulations to support the VISA
System, i.e., Commissioner’s Order No1 of January 30th, 2002.
Procedures at the Port
Under the Regulations new procedures have been outlined to regulate exports of specified textile articles.
Currently goods being exported to the U.S under the AGOA pass through three main ports that is, Kotoka International Airport (Cargo Section), Tema Port and Takoradi Port.
The Ghana Export Promotion Council in close collaboration with the Ministry of Trade and Industry plays a crusading role in the establishment of incentive schemes for exporters, some of which are:
Contract negotiations and terminations determined by the free zone enterprise.
For more information, please visit the following link: http://www.gfzb.com.gh/
In July, 1995, the Ghanaian Parliament enacted the country's free Zone Act which created one of the world's most attractive packages of Incentives for hassle-free business operation for exporting firms. These incentives serve to amplify business in what is already a centre for international business.