This act provides substantial enticements for investment in ghana the ghana chamber of mines 2005, 2006. The global intellectual property center gipc was established in 2007 as an affiliate of the u. Oct 23, 2015 how to start a business in ghana part two in this post, we are going to conclude on the steps of starting a business in ghana. Annual report 1 the board shall submit to the president within two months after the receipt of the auditors report, a report on the activities and operations of the centre during the preceding.
The following are relevant features of the tariff structure. Ceos breakfast meeting held at the coconut groove regency hotel on the 5th of march, 2014. These laws are based on a framework of legislation relating to business activity, s, patents, trademarks, disputes and. The companies act, 1963 act 179 income tax act, 2015 act 896 fisheries act, 2002 act 625. Other exemptions from normal tariff rates are provided to manufacturers upon application to the commissioner of customs.
An act to provide for the ghana investment promotion centre as the agency of. Gipc act, 1994 act478 are admissible at10%concessionary duty rate. The ghana investment promotion centre gipc is a government agency reestablished in 1994 under act 478 to promote and facilitate investment in all sectors of the economy with the exception of core mining and petroleum activities. Ghanas trade policies roshan bajracharya tariff rate structure and revenues frank flatters what might have been intended. Those who start a business in ghana, must follow the laws and regulation according to companies code 1963 act 179 and under the code, investors regardless foreign or local can establish and register a place of business in ghana. Gipc engages diplomatic community on act ghana business.
Land available for application for mineral right 4. Industry in ghana is mainly dominated by micro and small firms, privately owned and. The ghana investment promotion centre gipc is a government agency, reestablished under the ghana investment promotion centre act, 1994 act 478. To encourage, promote and facilitate investments in all sectors of the economy except mining and petroleum. The bill will repeal and replace the ghana investment promotion centre act 478 of 1994.
This demonstrates the political will and commitment to invite investors to the country. Gipc organized and participated in the following programmes as part of its mandate of investment promotion. The first step to running a successful business, generally, is to come up with the unique business idea. Evidence on the cointegration of the determinants of foreign. Mandate of the gipc the gipc reestablished in 1994 under act 478 seeks to perform activities that promote the publicizing of a product, organization, or venture so as to increase sales or public awareness facilitate i.
The ghana investment promotion center gipc act, 1994 act 478, governs investment in all sectors of the economy except minerals and mining, oil and gas, and the free zones. A concessionary duty rate of 10% is granted to hotels and restaurants under the gipc act, act 478 of 1994, on items like refrigerators, p. The event forms part of a series of strategic stakeholders engagement, the gipc has scheduled for the year to solicit views on ways. A nonghanaian may undertake this service provided he has a minimum fleet of ten new vehicles. This chapter chronicles the evolution of industry in ghana over the postindependence era from an inward overprotected isi strategy of 196083 to an outward liberalized strategy during 19842000, and since 2001, to the private sectorled accelerated industrial development strategy based on valueaddition. Mar 27, 2018 20180327 the ghana investment promotion centre gipc has called on businesses that have dealings with parent companies abroad or external company to provide some services to ensure that their. The ghana investment promotion centre gipc is a government agency reestablished in 1994 under act 478 to promote, coordinate and facilitate investment in the ghanaian economy. Act 478 ghana investment promotion centre act, 1994 14. Gipcregistered companies under the ghana investment promotion centre act, 1994 act 478 nonghanaians may to invest and participate in the operation of any enterprises in ghana, except petty trading, operation of taxi or car hire services except he has a minimum of ten new vehicles, lotteries, beauty salons and barber shops. The gipc 4 the ghana investment promotion centre gipc is a government agency reestablished in 1994 under act 478 to promote, coordinate and facilitate investment in the ghanaian economy.
How to start a business in ghana as foreign investors. Under the gipc act, 1994 act 478, the ghana investment promotion centre started registering and recording information on fdirelated projects in september 1994. The following information is courtesy of beyou and jumu. The sale of anything whatsoever in a market, petty trading, hawking or selling from a kiosk at any place. For foreigners who seek to trade in ghana, the law governing foreign trade is the ghana investment promotion centre act, 1994, act 478. Section 30 of the gipc act 1994 act 478 provides as follows. The government passed laws to encourage foreign investment and replaced regulations perceived as unfriendly to investors.
Evidence on the cointegration of the determinants of. You do not need to generate an idea that has not yet been invented. A legal guide for business investment and expansion apart from the gipc act, other industry specific laws regulate joint ventures in ghana. Ghana investment promotion centre bill 3 a bill entitled ghana investment promotion centre bill, 20 an act to provide for the ghana investment promotion centre as the agency of government responsible for the encouragement and. There exist several studies on the relationship between fdi inflows and economic growth. Ghana investment promotion centre the ghana investment promotion centre gipc is a government agency re. The ghana investment promotion centre gipc is a government agency re established in 1994 under act 478 to promote, coordinate and. Without prior approval by the gipc, except for the mining, petroleum, and free zones sectors, as well as portfolio investments. Promotion centre act 1994 act 478 and in force immediately before.
May 12, 2017 the dialogue an initiative of the gipc to attract foreign direct investment was on the theme. Minerals and mining act 703 2006 trade and investment laws since 1992, li 1547 local content requirements contained in key legislative documents. In order not to be left behind in the scramble for a slice of fdi, in 1994 the gipc act act 478 institutionalised the ghana investment promotion centre gipc which is a government agency placed directly under the office of the president. Ghana investment act schedule section 18 enterprises wholly reserved for ghanaians 1. An act to establish the national office for technology acquisition and promotion to monitor, on a continuing basis, the transfer of foreign technology to nigeria and to provide for other related matters. A legal guide for business investment and expansion apart from the gipc act, other industry specific laws regulate joint ventures in. The items considered which should be in the appropriate quantities relating to size, number of rooms, seating capacity etc. Laws applicable to the operation of business in ghana conform to international standards and best practice. Imports under different exemption schemes no systematic data are collected on goods entering under different exemption schemes. Is ghana an attractive proposition for it services and.
Gipc act under the ghana investment promotion centre act, 1994 act 478, any enterprise in which there is foreign participation is required to register with the ghana investment promotion centre gipc, with the exception of petroleum and mining companies. The enterprises specified in the schedule to this act are reserved for ghanaians and may not be undertaken by a nonghanaian. Aug 01, 2017 3 ghana ntrakwah and company firm africa. Today, the gipc is leading a worldwide effort to champion intellectual property rights and safeguard u. Ghana investment promotion centre gipc registration in.
What are the main sources of legislation, market codes and regulation. Do you like to know how to start a business in ghana as foreigner foreign investor. Minerals and mining act natural resource governance. However, the gipc does not include projects in the minerals and petroleum sector, and basically reports information on registered projects. The ghana investment promotion centre is a government agency that currently coordinates and monitors all investments in the country in sectors other than mining and petroleum. Under this act, investors are free to set up investment projects in all sectors of the ghanaian economy. The ghana investment promotion centre act, 1994 act 478 provides as follows in respect of the minimum capital requirement of nonghanaians in any enterprise. For more details, see ghana investment promotion centre investment incentives in ghana as provided under 2 the gipc act, 1994 amended version, july 1998. Identification of specific projects for investment promotion.
Ghanas investment promotion agency is ghana investment promotion centre gipc. An investor who invests under the gipc act of 1994 is entitled to an automatic immigration quota depending on the size of the investment. Gipc engages diplomatic community on act ghana business news. Community water and sanitation agency cwsa act 1998, act 564 water resources commission wrc act 1996, act 522 ghana investment promotion centre gipc act 1994, act 478 environmental protection agency epa act 1994, act 490 ghana water company limited gwcl act, 1993 act 461 local government act, 1993 act 462. Marketing ghana to attract fdi edinburgh napier university. The gipc mandate the ghana investment promotion centre gipc is a government agency reestablished under gipc act 20, act 865 to promote, coordinate and facilitate investments in and into the ghanaian economy. The gipc provides assistance and guidance to companies and also acts as liaison between the company and. Centre under the state lands act, 1961 act 125 and the cost shall be borne by the centre. Environmental protection agency act, 1994 act 490 the epa act. Ghana investment promotion centre bill 6 b approve the investment promotion operations and marketing plans which are proposed by the chief executive officer for implementation by the centre. Gipc comments on the rights of making available and. The effect of investment promotion on foreign direct.
Ghana investment promotion centre act 20, act 865 technology transfer regulations, 1992, li 1547 transfer pricing regulations, 2012 l. Foreign direct investment and gross domestic product in ghana. Public procurement authority act 2003 act 663preferential treatment for local suppliers ghana investment promotion center gipc act 20 act 86510% local participation. The companies code, 1963, was further liberalized by the ghana investments promotion centre gipc act, 1994, which eased rules for the establishment of companies.
Established in 1994, under legal instrument act 478, aims at reducing obstacles to and creating incentives to fdi. Act 478 ghana investment promotion centre act, 1994 5 a member, other than the chief executive, shall hold office for a term of four years and is eligible for reappointment. If you missed the first article in this series please read how to start a business in ghana pt 1 to get a full grip of the process to start a business in ghana. The ghana investment promotion center gipc act, 1994 act 478, governs investment in all sectors of the economy except. Affairs and the ghana investment promotion centre gipc. Minerals and mining act, 2006 act 703 ownership of minerals and cadastral system 1. Ghana investment promotion centre act, 1994 act 478 is deemed to be pending before. Refrigeratorsdeep freezers, television sets, air conditioners, public. Sectorspecific laws further regulate banking, nonbanking. Jun 27, 2017 the first step to running a successful business, generally, is to come up with the unique business idea. The national development planning commission act, 1994, act 479 and the national development planning system act, 1994, act 480, provide the core legal framework for the establishment of the commission and the performance of its functions.
The changing pattern and future of foreign investment law and. Under the ghana investment promotion centre act, 20 act 865, any enterprise in which there is foreign participation is required to register with the ghana investment promotion centre gipc. How to start a business in ghana part two by jeffery opoku october 23, 2015. The gipc act 20, act 865 was enacted to phase out and replace the previous gipc act 1994 act 478. National office for technology acquisition and promotion act. The ghana investment promotion centre gipc is a government agency reestablished in 1994 under act 478 to promote, coordinate and. Ghana investment promotion centre act, 1994 act 478 act 478 ghana investment promotion centre act, 1994 arrangement of sections establishment of the investment promotion centre section 1. Economic councilors seminar on the gipc act 865 1994 held on the 26th and 27th of february 2014. Enterprises eligible for foreign participation and minimum foreign capital requirement. Africa a legal guide for business investment and expansion.
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