Business Registration in Ghana is essential for you to legally start and operate a business in the country. Once you register your business, you will get a license to operate. Any business operating without a license is doing so against the laws of the country. In this post, you will learn how to register your business in the country successfully.
Business registration is a major concern when you want to set up a business that will be recognized in Ghana. However, registering your business in the country isn’t that hard. To make the process even easier, you have to keep in mind the following:
- Issues surrounding the most efficient and cost-effective way of registering a business
- Steps involved in registering a business in Ghana
- Entities of registration to consider
- Information required about your business
Once you have this information in place, you should find a certified accountant, a legal firm, or a business registration company that is recognized for registering businesses in the country. You have to keep in mind that not every company that registers businesses is certified. Therefore, be careful in your selection and make sure to check out if the company follows the procedures set by the law.
Business registration in Ghana
Follow the steps outlined here for a successful business registration in Ghana:
- On the first day, you need to obtain an incorporation certificate by checking the availability of the company and submitting company documents
- Also get a commissioner of oaths to authenticate the forms required to start business
- Get the certificate to start business from the registrar’s department
- Present and pay for the following documents in a bank account: copy of company’s regulation, a certificate to commence business, certificate of incorporation and copy of company’s regulation as well as signatures of authorized representatives for the company.
- Apply for business license/ permit from metropolitan authority. This can take up to 7 days. During this period, the metropolitan authority should inspect your work premise
- Apply for social security
- Get an environmental certificate from the environmental protection agency
Cost of business registration in Ghana
Once you understand the procedure of registering your business the next step is to know how much you will be expected to pay. Registering your business is the first formal step towards starting a business in Ghana. The cost of business registration will depend on the type of business you are registering.
Sole proprietorship charges
- Registration of business name- ¢50
- Certified true copy-¢10
- Filing of form D- ¢25
- Annual renewal- ¢25
- Registration of business name- ¢50
- CTC- ¢10
- Annual renewal- ¢50
- Change name- ¢110
- Filing form B- ¢50
- Filing of memorandum of satisfaction for registration- ¢60
Certificate of business registration
As part of the basic business registration details, you will be issued with a certificate to show that you have submitted all necessary forms and the registration process is expected to be complete by the end of two weeks. Business registration certificates provided in the country include:
- Certificate of incorporation
- Certificate of commencement
- Company regulations and
- Form 3& 4
With these documents in place, you can legally prove that your business in Ghana is legitimate and has been approved by the government. These documents bear your business details such as the name, directors, type of business, and address. They can be presented to authorities to prove that you followed the registration process and are operating legally under the constitution of the country.