Company Limited by Shares
A Company Limited by Shares is body formed by one to fifty people whose liability is limited to amount of shares unpaid.
PRIVATE LIMITED BY SHARES
A Private Company :
- Restricts the right to transfer the shares of the company
- Limits the total number of the members and debenture holders to fifty
- Prohibits the company from making an invitation to the public to acquire shares or debentures of the company
- Prohibits the company from making an invitation to the public to deposit money for fixed periods or payable at call, whether bearing or not bearing interest.
- The members or shareholders are the legal owners of the shares held in the company, and the directors and secretaries are the officers of the company
- All private companies have perpetual succession
- One of the directors must at all times be a resident in Ghana.
Procedure for registration
- Check for the availability of the name to be used
- Applicant may purchase a set of Private Limited Liability Forms(Form 3) from the in-house bank or download online
- Attach a consent letter from a qualified and licensed charted accountant with the institute of chartered Accountants Ghana and must be registered as a Sole Proprietorship/Partnership(An auditor is eligible to serve for a period of 6 years and shall be rotated after 6 years.)
- Statutory Declaration must be witnessed by the Commissioner for Oaths/Notary Public/Self-Declared
- A minimum of two directors is required. Each must submit a Statutory Declaration & Consent Letter with the registration Form
- Submit completed forms at the Company Registration Counter for Verification and Capturing or Online
- Pay Incorporation and filing fee of GHs 450 and 1% stamp duty on stated capital at the in-house bank or Online on the ghana.gov.gh platform
- VIP service cost of GHs 1000 in addition to the processing fees (optional)
- Registrar Examines, Approves & Issues :
- Certificate of Incorporation
- Certified Copy(CTC) of the Standard/Registered Constitution of the Company
- Certified Copy(CTC) of Form 3
- BO Profiles
- Mandatory Filing of Annual Returns at GHs 90 together with financial statement after 18 months of incorporation and subsequently every year.
Wholly Owned Foreign Company
Service Industry:
Such as Construction and Civil Works
- Minimum of USD 500,000 in equity i.e Ghanaian Cedi equivalent for foreigners at the Prevailing Bank rate
- Applicants are to pay 1% stamp duty on the stated capital at the time of Incorporation
Trading Industry
Such as General Trading, Importers, Dealers in General Goods and Retail Trading, Manufacturers' Representative
- Minimum of USD 1,000,000 in equity (cash or goods) i.e Ghanaian Cedi equivalent for foreigners at the Prevailing Bank rate
- Applicants are to pay 1% stamp duty on the stated capital at the time of Incorporation
- They must employ at least 20 skilled Ghanaians
All enterprises in the country with foreign participation are required to register with the Ghana Investment Promotion Centre (GIPC) for an Investment Certificate and other permits.
Company with Foreign Participation(Joint Venture)
Service Industry
- Foreign Applicants must have a minimum of USD 200,000 Stated Capital; Ghanaian Cedis equivalent to the prevailing bank rate
- Ghanaian applicant must have 10% equity participation in the company at the time of incorporation
- Applicants are to pay 1% stamp duty on the stated capital at the time of Incorporation
Trading Industry
Such as General Trading, Importers, Dealers in General Goods and Retail Trading, Manufacturer's Representative
- Foreign applicants must have a minimum of USD 1,000,000 in equity, Ghanaian Cedi is equivalent to the prevailing bank rate
- Applicants are to pay 1% stamp duty on the stated capital at the time of Incorporation
All enterprises in the country with foreign participation are required to register with the Ghana Investment Promotion Centre (GIPC) for an Investment Cert and other permits.
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