An entrepreneur, irrespective of nationality, can set up a business enterprise in Ghana in accordance with the provisions of any of the following legal instruments:
- GIPC Act, 865, 2013
- The Business Name Act, 1962 (Act 151)
- The Partnership Act, 1962 (Act 152)
- The Companies Code, 1963 (Act 179)
- Minimum Foreign Capital Requirement
The foreign shareholder is required to satisfy this minimum equity capital either in cash transferred through Ghana’s banking system or its equivalent in the form of goods, plant and machinery, vehicles or other tangible assets imported specially and exclusively to establish the enterprise. A Destination Inspection Report issued by an accredited inspection company, stating the value and condition of the goods, must cover the imported items. Consideration for goodwill of a business or services rendered by partners cannot be used to satisfy the minimum foreign equity capital.
Foreigners are permitted 100-per-cent ownership of an enterprise provided the investor satisfies section 19 (2b) of the GIPC Act, ACT 865, 2013. Wholly foreign-owned enterprises must have a minimum paid up capital, the equivalent for Joint Venture US$ 200,000, 100% Foreign-Owned US$ 500,000 and Trading Enterprises US$ 1,000,000.