Investment Procedures

Establishment of Investment Projects
Under the Ghana Investment Promotion Centre Act, 1994 (Act 478), investment in all sectors of the economy, other than mining, petroleum, free zones and portfolio investments, cannot be established without prior approval by GIPC. Mining and Petroleum sector projects have to be approved or licensed by the Minerals Commission and the Ministry of Mines and Energy, respectively. Industrial activities in the Export Processing Zone are administered by the Ghana Free Zones Board while portfolio investments are handled by the Ghana Stock Exchange.

Foreign investors intending to invest in Ghana are by law to register with the Ghana Investment Promotion Centre (GIPC) under the GIPC ACT 478. The registration will be concluded only when the legal minimum equity contribution has been met.

The amounts involved are:

• Joint Venture                  - US$10,000.00
• 100% Foreign-Owned     - US$50,000.00
• All Trading Enterprises   - US$300,000.00

To satisfy the minimum equity requirement, the investor must follow the following steps:

STEP 1 - Registration with Registrar General's Department  
Incorporate a company at the Registrar General's Department. The department has five (5) working days to complete formalities if all documents are in order.

STEP 2 - Minimum Equity Contribution
Foreign investors should comply with the GIPC Act 478 regarding minimum equity requirements either in cash or in kind as follows:

(a) Bank Account - Open two corporate accounts, (i.e. foreign and local) with a local bank of your choice.

(b) By Bank Transfer - Effect a Bank to Bank transfer of minimum equity requirement, which has to be converted into local currency (Cedis). This transaction should be confirmed to the Bank of Ghana by the investor's local authorised dealer bank. Bank of Ghana in turn, confirms this transaction to GIPC for the company's registration purposes.

(c) By Physical Cash - Physical cash carried into Ghana by individuals for investment purposes should be declared on Bank of Ghana Form T5 on arrival and subsequently deposited in a bank account within the shortest possible time. This transaction should be confirmed by your dealer Bank and the Bank of Ghana as in (b) above.

Importation of Plant, Machinery and Equipment
Enterprises are free to implement their projects by importing the relevant plant, machinery and equipment. Zero-rated and concessionary duty items should be cleared     automatically and directly through CEPS. Essential plant, machinery and equipment, which fall under Section 24 of Act 478 should be cleared with the GIPC.

(d) Equity in Kind - In the case of equity in kind in the form of imported machinery, equipment and goods, all documents covering such imports should be in the name of the registered company and evidenced by the following which should be submitted to GIPC for registration purposes:

• Bill of Lading/Airway Bill (Originals)
• Destination (Ghana) Inspection Certificate
• Customs Bill of Entry (Originals)
• Import Declaration Form (IDF)
• Certified/Final Invoices
• Evidence of Capitalisation – Form 6 from the Registrar General Department.

(e) Registration with relevant Agencies -  Registration with the relevant agencies as applicable to the sector of operation.

STEP 3 - Registration with GIPC
The investor then registers with the GIPC (after paying the relevant fees), which has five (5) statutory working days to complete the registration process, provided the registration forms are in order.
GIPC Investor Registration Forms

STEP 4 - Wholly Ghanaian-owned Enterprises
Wholly Ghanaian-owned enterprises do not need to register with GIPC since the minimum foreign capital requirement does not apply to such enterprises.

STEP 5 - Immigrant Quota
All wholly Ghanaian-owned enterprises and enterprises with foreign participation seeking immigrant quota facilities in respect of expatriate personnel (experts) for their businesses should satisfy the relevant minimum capital requirements specified under Section 30 of Act 478. Immigrant quota request is by a letter to GIPC.

STEP 6 - Registration with IRS and VAT Secretariat
All enterprises must register directly with the Internal Revenue Service and the Value Added Tax (VAT) Secretariat for purposes of statutory tax, e.g. taxes, rebates and exemptions thereof.

STEP 7 - Environmental Impact Assessment Certificate
Enterprises must register and obtain an environmental permit from the Environmental Protection Agency (EPA).

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