Obtain a Tax Identification Number
Agency: Registrar-General Department or Ghana Revenue Authority
It is necessary to obtain a TIN before proceeding to company registration. However, it can now be done at the time of business registration by submitting the forms and required documents at the Registrar-General’s Department (RGD). The information is automatically sent to and validated by the Ghana Revenue Authority’s desk at RGD. The applicant then can collect the document.
Time and cost: 2 days on average, no charge
Check for availability of company name and submit company documents to obtain Business Operation Permit (BOP) and incorporation certificates at the Registrar-General’s Department
Agency: Registrar General’s Department
The promoter/applicant shall request for a search to be conducted at the Companies Registry (customer service office) to ascertain the availability and acceptance of the proposed name of the company, and submit the company documents for registration. The Registrar may, on a written application and on payment of the prescribed fee, reserve a name pending registration of a company, per section 15(13) of the Companies Act 1963 (Act 179).
The applicant may pick up a prescribed Form A from the in-house bank, and submit filled forms at the bank. The Registrar examines and issues business registration certificate as well as certified true copy of the form to be submitted as attachment.
Fees are the following:
- Name search GHC 25;
- Name reservation GHC 50;
- Complete set of Incorporation forms GHC 15;
- Registration fees GHC 230;
- GHC 5 per certification of regulations (assuming 3 certificates).
The incorporation documents and forms can be downloaded online at http://www.rgd.gov.gh. They include:
- Company regulations (four copies)
- Tax identification number form (one copy)
- Forms 3 and 4 are completed and submitted together with the Regulations form. However, payment in respect of the forms 3 & 4 may be deferred until after the company has been incorporated.
Forms 3 and 4 must be signed by all company directors and the secretary.
The forms require the following information:
- Nature of the business that subscribers intend to engage in;
- Full names of subscribers and shareholders, their addresses, percentage shareholdings, occupation, and any directorships in any other company;
- Full name and address of company secretary and auditors (a letter of consent to act as auditor is attached);
- An attestation that the minimum nominal capital complies with the requirement that a company 100% Ghanaian-owned have minimum nominal capital of at least GHC 500.
Business registrations can be applied for online or at the Customers Service Office of the Registrar General’s Department. The certificate of incorporation is obtained at the office.
Time and cost: 1 day, see comments
A Commissioner of Oaths authenticates forms required for the certificate to commence business
Agency: Commissioner of Oaths
Form 4 must be completed for the issuance of the certificate to commence business, which requires authentication before a Commissioner of Oaths. The Commissioner for Oaths, located in the Registrar General Department, usually swears the oath within 1 day so that the company can obtain the certificate to commence business.
Time and cost: 1 day (simultaneous with previous procedure), GHC 10
Obtain from the Registrar-General Department the certificate to commence business, the certificate of incorporation and temporary Business Operating Permit (BOP) certificates
Agency: Registrar-General Department
After incorporating the company, the founder must complete Forms 3 and 4 within 28 days, indicating, among other information, the names, addresses, businesses, and occupations of the company’s secretary and directors; name and address of the company’s qualified auditor; the address of its registered office; its register of members; the amount of stated capital; and the number of issued and unissued company shares. As the company’s commencement tax, 0.5% of the stated capital is collected by the Registrar-General’s Department on behalf of the Internal Revenue Service (IRS). There is also a 100 GHC fee for forms 3 and 4. Additionally, four or five copies of the company regulations are required (auditors, banks, solicitors, company secretaries may each require a copy).
The Registrar of Companies now automatically registers new companies with the IRS. VAT is charged at 15% including a national health insurance levy (NHIL) of 2.5%.
The process of obtaining a Business Operating Permit (BOP) has been automated and integrated to the business incorporation process.The Metropolitan, Municipal and District Assemblies (MMDA) automatically obtains the information from the RGD and instantly issues new businesses a provisional BOP that can be printed online and is valid for 3 months.
Time and cost: 2 days (simultaneous with previous procedure), 0.5% of the stated capital as commencement tax + GHC 10 (registration fee with Ghana Revenue Authority) + GHC 100 form fees
Receive Inspection of work premises by the Metropolitan Authority
Agency: Metropolitan Authority
The Metropolitan Authority has digitized the process for inspection of the business premise.
After the issuance of the provisional Business Operating Permit (BOP), the MMDA automatically receives information on the registered business (address and phone number). Then, a visit is scheduled to confirm the category of business.
The business owner is automatically sent an invoice with amount due payable after the inspection but before the issuance of final BOP.
Flat fee for temporary business operating permit is GHC 100. Any difference between the amount paid for the Provisional BOP and the final BOP fee will be paid upon the transition to the Final BOP.
Time and cost: 1 day, GHC 100
Obtain final business operating permit upon payment
Agency: Metropolitan Authority
The cost to apply for a Business Operating Permit (BOP) at the Metropolitan Authority depends on the type of business and the category in which it falls. Documents to be submitted depend on the type of enterprise (for example, restaurants must have permits from the fire department and the Town and Country Planning Authority—and, among other documents, an inspection certificate from the Ghana Tourist Board).
Fees are subject to charge by the Metropolitan Assembly, according to law. According to the Accra Metropolitan Assembly Fee-Fixing Resolution 2015, the fee for a commercial retail/wholesale standardized shop “Cat. E” is GHC 270.
A flat fee of GHC 100 will have been paid during the period the entrepreneur has the temporary BOP. The remaining amount for the final BOP fee will be paid after the inspection is conducted. Final BOP is issued within 5 to 10 days of receipt of payment.
Time and cost: 7 days, GHC 170
Deposit paid-in capital in a bank account
Agency: Bank
The following documents must be presented to deposit the paid-in capital in a bank account: copies of company regulations; the certificate of incorporation and the certificate to commence business; and signatures of the authorized company representatives.
As part of the ‘KYC’ (Know Your Customer) procedures, most banks require introductory letters from the company’s solicitors in order to open the account. Additionally, some banks conduct a physical inspection of the company address.
Time and cost: 1 day (simultaneous with previous procedure), no charge
Apply for social security
Agency: Social Security and National Insurance Trust Office
To apply for social security, the company must attach the list of employees, their respective salaries and social security numbers, and the company’s certificate of incorporation.
Time and cost: 1 day (simultaneous with previous procedure), no charge
