The Only Way Is Ghana has partnered with Swift Law, a legal tech platform that allows its clients to register a company name (in a week!) or intellectual property in Ghana simply by filling out online documents. We are coming to the end of this 6 weeks setting up a business in Ghana course. Next week Thursday will be the last instalment, so stay tuned. If you have any pressing questions about fees etc, Swift Law are also on hand to answer your related questions in The Only Way Is Ghana forum
So step 5 is…Pay your filing fees and capital dutyOnce all the documents mentioned previously have been completed and signed, they are submitted to the Registrar General’s Department (RGD) for payment of filing fees and the capital duty. Capital duty in Ghana is assessed as 0.5% of company’s stated capital and the official filling fees too are averagely GHS 600.
Minimum Capital Requirement:
One important thing to note – If the company has one or more foreign shareholders, different minimum stated capital requirements apply to it.
In a fully foreign owned company, the minimum stated capital requirement is USD 500,000
In a joint venture between a Non-Ghanaian and a Ghanaian the minimum stated capital of the company is USD 200,000
Below are the fees you are likely to pay for incorporating:
- A Ghanaian Company
GHS 600 (for official fees) + 0.5% of GHS 500 (stated capital)
= GHS 600 official fees + GHS 2.50
- A Wholly foreign owned company
GHS 600 (for official fees) + 0.5% of USD 500,000
= GHS 600 + USD 2500
- A Joint venture company with Ghanaian and Non-Ghanaian
GHS 600 (for official fees) + 0.5% of USD 200,000
= GHS 600 + USD 1000
Our focus for this 6 week course will be on a limited liability company, although the process is largely similar for the other legal entities.
If you have any questions related to registering or setting up a business in Ghana, Swift Law they are on hand to answer your questions in The Only Way Is Ghana forum.