How to start a business in Ghana
Starting a business in Ghana can be a rewarding experience, but it is important to be familiar with the legal and regulatory requirements that apply to businesses in the country. Here are some steps you can follow to start a business in Ghana:
- Choose a business structure: In Ghana, you can choose to register your business as a sole proprietorship, partnership, limited liability company, or a company limited by guarantee. Each business structure has its own benefits and drawbacks, so it is important to consider which one is best suited to your business needs.
- Register your business: You will need to register your business with the appropriate government agencies, including the Registrar General’s Department. You will also need to obtain any necessary licenses or permits for your business.
- Develop a business plan: A business plan is a crucial document that outlines your business objectives, target market, financial projections, and marketing and sales strategies. It is important to have a clear and well-defined business plan in order to attract investors and secure funding.
- Find a location and set up your business: Once you have registered your business and obtained any necessary licenses and permits, you will need to find a suitable location for your business and set up your operations. This may include leasing or purchasing a physical space, hiring employees, and purchasing equipment and supplies.
- Promote and market your business: In order to attract customers and generate revenue, you will need to promote and market your business effectively. This may involve creating a website, advertising on social media and other platforms, and participating in local events and networking opportunities.
Starting a business in Ghana can be a challenging but rewarding process. It is important to be well-prepared and to seek the guidance of professionals, such as lawyers and accountants, as needed.
Starting a business in Ghana
This article will provide you with the needed steps required to start a business in Ghana.
Register Your Business at the Registrar General’s Department (RGD)
The first step to starting a business in Ghana is to register your Ghanaian business at the Business Registration center at Registrar General’s Department (RGD).
You will be required to complete a relevant application form. Every company will need to have an auditor, who must strictly be a member of the Institute of Chartered Accountants. The auditor isn’t supposed to be a member, employee, or officer of your company.
After successfully paying the relevant fees and completing all the necessary forms, you will be issued a Certificate of Incorporation and a Certificate to Commence Business.
Register with the Ghana Investment Promotion Centre (GIPC)
The Ghana Investment Promotion Centre (GIPC) is responsible for registering all Enterprises in Ghana. In order to register with GIPC, You will need to complete the Investor Registration Forms (Form GIPC/R1) in duplicate.
Within a minimum of five (5) business days from the date of orderly receipt of these forms (and all requirements attached), the GIPC will formally register the investment.
Corporate Income Tax Rates in Ghana
Business tax in Ghana is known as Corporate income tax (CIT). Learn about Corporate income tax rates in Ghana. Get the complete rates provided by the Ghana Revenue Authority. Click here to view rates.
Double Tax Exempt Countries in Ghana
The Government of Ghana has ratified 11 Double Taxation Agreements with several countries to further enhance the country’s investment sector. View the complete list of countries Exempt from Double Taxation in Ghana (DTAs)
Tax Holiday for Young Entrepreneurs and Startups
If you are a young entrepreneur looking to start a business in Ghana, the government of Ghana has implemented a 5 years tax holiday pass for young entrepreneurs and startups who intend to venture into certain businesses. View the complete list of businesses that can benefit from the tax holiday pass.
