Business & Finance NewsBusiness & Finance Tips

Step by Step Procedure on How to Start a Business in Ghana

Here are the procedures you will need to take to set-up and successfully launch a business in Ghana. Use the following as a guide to assist you when starting your business.

1. Develop a Business Plan from your ideas or goals

2. Get your Tax Identification Number (TIN)

How to get a TIN:

  • Provide a coloured copy of a National ID card
  • Secure your TIN in a Bank, any Ghana Revenue Authority branch or the Registrar General’s Department.

3. Register your business at the Registrar General’s Department

The following are required:

  • Name of your company
  • The kind of business that you intend to engage in
  • The company name, names & addresses of shareholders, their percentage shareholdings, respective occupation, and any directorships in any other company
  • The full names of the first directors of your company. A company must have a minimum of 2 directors and at least one director must be a resident in Ghana, must be of sound mind and of legal age which is not younger than 21.
  • The company secretary and auditors’ full names and addresses.
  • The number of company shares that is to be registered and the stated capital

4. Open a Business Bank Account

The following will be required:

  • Company regulations
  • Certificate of incorporation
  • Certificate to commence business
  • Signatures of the authorized company representatives
  • Reference from Auditors
  • Proof of residence of Authorized Signatories
  • Completed account opening forms
  • 2 passport-size photographs of Signatories
  • ID’s and TIN of Directors/Signatories
  • Company TIN

5. Apply for Business Operating Permit from the Metropolitan /Municipal / District Assembly

Requirements:

  • Purchase application form from the Cash Offices of the various sub-metros
  • Complete in full the application form and submit it to the Revenue Mobilization Officer (RMO) at the Assembly’s main office.
  • Must have registered with the Registrar General’s Department and have been issued with Business Registration Certificate.
  • Registration Certificate from other recognized bodies as may be applicable.
  • Tax clearance Certificate from Internal Revenue Service (IRS).

Procedure:

  • A joint team from Finance Department, Environmental Health Division and City Engineer’s outfit will inspect the premises of the applicant within 5 business days of submission of application.
  • The inspection team makes appropriate recommendations to the Assembly within 2 business days from the day of their inspection.
  • Upon approval by the Assembly, license is issued to applicant at a prescribed fee.

6. Register for Social Security

How to register:

  • Book an appointment at the nearest SSNIT office.
  • Take the required documents to the nearest office.
    • Certificate to Commence business
    • Company’s Regulations
    • Tax Identification Number for the company/ business entities
    • Profile of Directors or Local
    • Managers
    • Copies of the Directors’ or Local Manager’s valid ID (e.g. Voter’s ID, passport, driver’s license)
    • Directions to Taxpayer’s Premises using the Ghana Post (GPS).
    • List of employees with their SSNIT numbers, basic salaries, and contributions.
    • The SSNIT officer will fill a form with the required details and examine the documents. Application will be processed once everything is in order.
  • After processing, SSNIT will send the following to the company:
  1. A confirmation letter with the company’s registration number; and
  2. A certificate of membership to signify registration.

Download Latest Ghana Music Here

Back to top button

Adblock Detected

Please consider supporting us by disabling your ad blocker
error: