Starting A Business In Ghana

Africa provides a wide range of investment opportunities for business people. One of the best destinations in Africa to start a business is in Ghana.  Ghana offers very good business opportunities and a conducive social and economic environment for investors around the world.  Starting a business in Ghana is a simple and straightforward process if you have all the necessary requirements and comply with the required procedure.

In this article, we discuss the following;

STARTING A BUSINESS IN GHANA. 1

2.0 Why do business in Ghana?. 1

2.1 The factors that make Ghana a good destination to do business include the following: 1

3.0 What Business opportunities exist in Ghana?. 1

3.1 The need for Market research. 2

3.2 What are some of the Low-Cost Businesses you can Start in Ghana?. 2

4.0 Registering your business at the Registrar Generals Department (RGD) 3

4.1 What kind of business can I register in Ghana?. 3

The first step in starting a business in Ghana is to legally register the business entity at the Registrar General's Department (RGD). There are various forms of business entities that businesspeople can be register under the laws of Ghana, and it is therefore imperative to choose the right legal structure that best serves your business intentions. These are the various forms of business registration under the laws of Ghana. 3

4.2 Sole proprietorship. 3

4.3 Company Limited by Shares. 3

4.4 Companies Limited by guarantee. 3

4.5 Companies with unlimited liability. 4

4.5 External Company. 4

5.0 General Procedure for Registering a Business in Ghana. 4

5.1 - Business Name Search. 4

5.2- TIN Registration. 4

5.3 - Download and Complete Business registration forms from the RGD. 5

5.4 Pay stamp duty, business incorporation and filing fees and all applicable charges. 5

5.5 -   Collect Business registration certificates. 6

6.0 Opening a Bank Account 6

8.0 Other Regulatory Compliances and Sector Licensing. 7

9.0 Ghana Revenue Authority. 7

10.0 Social Security and National Insurance Trust 7

10.1 Requirements to register with SSNIT include the following. 7

10.2 The social security scheme applies to- 7

11.0 Hiring of Local Employees 7

12.0 Immigration- Work and residence permit 8

13.0 Mistakes to avoid when doing business in Ghana. 8

14.0 Challenges with doing a business in Ghana. 9

15.0 Fast Facts about Ghana. 9

16.0 Conclusion. 9

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The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.