Are you ready to start a business in Ghana? With Ghana’s GDP growth of 6.9% in 2024 and one of the most stable political environments on the continent, there’s never been a better time to launch your entrepreneurial journey.
In this article, Biz assurance will walk you through everything you need to know about starting and registering a business in Ghana from choosing your business structure to obtaining all necessary permits and licenses. Whether you’re a Ghanaian citizen or foreign investor, this guide covers the complete process, costs, and requirements for 2025.
Why Start a Business in Ghana in 2025?
Ghana is one of Africa’s most business-friendly countries, offering numerous advantages for entrepreneurs and investors:
Economic Growth: Ghana demonstrates strong economic resilience and provides direct access to over 400 million consumers across West Africa with strong growth potential.
Business-Friendly Environment:
- Streamlined online business registration process
- Robust legal framework protecting both local and foreign investors
- Easy profit repatriation for foreign-owned businesses
- Young, educated workforce with competitive wages
Trade Opportunities: Ghana is part of the African Continental Free Trade Area (AfCFTA), granting access to a 1.3 billion consumer market across Africa.
Government Support: The Ghana Investment Promotion Centre (GIPC) provides education and support to both new and existing businesses.
Types of Business Structures in Ghana
Before starting your business, you must choose the right legal structure. Here are your options:
1. Sole Proprietorship (Business Name Registration)
Best for: Small businesses owned and operated by one individual
Key Features:
- Simplest and most affordable registration option
- Owner has full control over business decisions
- Owner assumes all business liabilities
Examples: Local shops, freelancers, consultants, artisans, small retail businesses
2. Partnership
Best for: Businesses owned by two or more individuals
Key Features:
- Partners share profits, losses, and responsibilities
- Requires partnership agreement
- Partners are jointly liable for business debts
Examples: Law firms, accounting practices, medical practices, consulting firms
3. Limited Liability Company (LLC)
Best for: Medium to large businesses seeking liability protection
Key Features:
- Separate legal entity from its owners
- Protects shareholders from personal liability beyond their investment
- Requires minimum of 2 directors and 1 company secretary
- At least one director must be a Ghanaian resident
Minimum Capital Requirements:
- 100% Ghanaian-owned companies: Minimum stated capital of GH¢500
- Foreign-owned or joint venture companies: Minimum capital investment of $200,000 to $500,000 (approximately GH¢2 million to GH¢5 million)
4. Non-Governmental Organization (NGO)
Best for: Charitable, educational, or social purpose organizations
Key Features:
- Must register with Department of Social Welfare
- Total statutory cost: GH¢270
- Subject to specific compliance requirements
Step-by-Step Guide: How to Register a Business in Ghana
Step 1: Create a Business Plan
Before registering, develop a solid business plan that includes:
- Business Description: What products or services will you offer?
- Target Market: Who are your customers and what problems do you solve?
- Business Goals: Short-term and long-term objectives
- Competitive Analysis: Research your competitors and identify opportunities
- Marketing Strategy: How will you reach and attract customers?
- Financial Projections: Startup costs, revenue forecasts, and break-even analysis
- Location & Resources: Where will you operate and what skills/equipment do you need?
Step 2: Choose Your Business Name
Select a unique, memorable business name that:
- Is not already registered (check ORC database)
- Represents your brand and business activities
- Is easy to pronounce and remember
- Is generic rather than specific (allows flexibility for future growth)
- Complies with Ghanaian naming regulations
- Avoids offensive or misleading terms
Pro Tip: Conduct a name search on the Registrar General’s Department portal before proceeding.
Step 3: Get Your Tax Identification Number (TIN)
Before registering your business, obtain a TIN from the Ghana Revenue Authority (GRA):
Where to Get TIN:
- Visit your nearest GRA office
- Apply online through the GRA portal
- Processing time: 2-7 days
Required Documents:
- Photocopy of your Ghana Card (in color)
- Completed TIN application form
Your TIN is essential for business registration and all future tax obligations.
Step 4: Register Your Business with the Office of Registrar of Companies (ORC)
You can register either online or in-person at the ORC office.
Option A: Register Online (Recommended)
1. Visit the Official Portal:
- Go to ghana.gov.gh or egovonline.gegov.gov.gh
- Create an account if you’re a new user
2. Complete Name Search:
- Use the online name search function
- Verify your chosen business name is available
- Reserve the name if available
3. Complete Registration Forms:
For Sole Proprietorship:
- Fill and submit Form A (Business Name Registration)
- Provide your personal details and business information
For Limited Liability Company:
- Submit incorporation documents including:
- Company name and registered address
- Nature of business activities
- Full names and addresses of all shareholders and their shareholding percentages
- Full details of at least 2 directors (minimum age: 21 years)
- Company secretary and auditor details
- Stated capital and share structure
4. Make Payment:
- Pay GH¢100 for sole proprietorship online via ghana.gov.gh platform
- For LLC, pay GH¢450 plus 1% stamp duty on stated capital
- Payment methods: Mobile Money, bank transfer, or card payment
5. Submit Documents:
- Upload all required documents
- Attach your TIN certificate
- Submit completed forms for processing
6. Receive Your Certificate:
- You’ll receive your Certificate of Incorporation and Certificate to Commence Business within two weeks
- Download and print your e-Certificate
Option B: Register In-Person
1. Visit the ORC Office:
- Address: Office of the Registrar of Companies, Examination Loop (Behind Ridge Hospital), Accra
- Contact: +233 55-343-6075 / 59-952-5774 / 55-343-6047
2. Purchase and Complete Forms:
- Buy the required registration forms at the office
- Fill out all sections accurately
- Have forms verified at the registration counter
3. Submit Documents:
- Submit completed forms with all required attachments
- Pay processing fee at the in-house bank
4. Collect Certificate:
- Return after 2-3 weeks to collect your registration documents
Required Documents for Business Registration
For Sole Proprietorship:
- Completed Form A (Business Name Registration)
- Copy of Ghana Card or valid ID
- Tax Identification Number (TIN)
- Proof of business address
For Limited Liability Company:
- Company incorporation forms (Forms 3 & 4)
- Memorandum and Articles of Association
- Ghana Cards/IDs of all directors and shareholders
- TIN certificates for directors
- Proof of registered office address
- Company secretary and auditor details
- Bank certificate showing paid-up capital (for foreign companies)
Step 5: Open a Business Bank Account
After receiving your business certificate, open a dedicated business bank account:
Required Documents:
- Certificate of Incorporation
- Certificate to Commence Business
- Signatures of authorized signatories
- Reference letter from your auditor
- Proof that signatories are Ghanaian citizens (for local companies)
- 2 passport-size photos of each signatory
- Ghana Card or TIN numbers of directors and signatories
- Company TIN certificate
Popular Banks for Business Accounts:
- GCB Bank, Ecobank Ghana, Fidelity Bank, Stanbic Bank, Standard Chartered, Absa Bank Ghana
Step 6: Apply for Business Operating Permit
Every business must obtain an operating permit from the local Metropolitan, Municipal, or District Assembly (MMDA).
How to Apply:
1. Visit Your Local Assembly:
- Go to the MMDA office in your business location
- Purchase business permit application forms
2. Complete Application Forms:
- Fill in all requested information
- Attach your business certificate from ORC
- Include your TIN certificate from GRA
- Add any industry-specific certifications
3. Assessment Process:
- The Finance, Environmental Health, and Engineering teams will conduct an assessment at your business premises within 5 days
- They’ll present findings to the Assembly within 2 working days
- Assembly will approve your application after confirming all requirements
Cost: GH¢300 – GH¢1,000 (varies by location and business type)
Additional Permits You May Need:
- Food and Drugs Authority (FDA) permit (for food/pharmaceutical businesses)
- Environmental Protection Agency (EPA) permit (for manufacturing)
- Ghana Tourism Authority permit (for hospitality businesses)
- National Communications Authority (NCA) license (for telecommunications)
- Bank of Ghana license (for financial services)
Step 7: Register with Social Security (SSNIT)
It is mandatory for employers in Ghana to register with the Social Security and National Insurance Trust (SSNIT) for employee pensions.
How to Register:
1. Book an Appointment:
- Visit the nearest SSNIT office or book online
2. Required Documents:
- Certificate to Commence Business from local assembly
- Tax Identification Number (TIN)
- Information about directors and managers
- Ghana Cards of directors and managers
- Number of employees and their SSNIT numbers (if applicable)
3. Submit Application:
- An SSNIT official will help you complete the registration forms
- Submit all required documents
4. Receive Confirmation:
- After processing, you’ll receive a confirmation letter with your company’s SSNIT number
- This confirms your SSNIT membership
Contribution Rates:
- Employer: 13% of employee’s monthly salary
- Employee: 5.5% of monthly salary
- Total: 18.5% of basic salary
Tax Registration and Compliance
After business registration, ensure ongoing tax compliance:
VAT Registration
If your annual turnover exceeds GH¢200,000, you must register for VAT with GRA.
Benefits:
- Collect VAT from customers
- Claim input VAT on business purchases
- Enhances business credibility
Tax Obligations:
- Corporate Tax: 25% of annual profits
- VAT: 15% (12.5% VAT + 2.5% NHIL)
- Annual Returns: Must be filed with ORC
- Tax Returns: Must be filed with GRA
Common Questions About Starting a Business in Ghana
Can foreigners start a business in Ghana?
Yes, but wholly or partially foreign-owned businesses must invest minimum capital ranging from $200,000 to $500,000, depending on the business sector.
How long does business registration take?
- Online registration: Approximately 2 weeks
- In-person registration: 2-3 weeks
- VIP service: 3-5 working days (additional GH¢400 fee)
Do I need a lawyer to register my business?
No, but legal and consultancy services typically range between GH¢500 and GH¢2,000 and can help ensure compliance.
Can I register my business online?
Yes! The Registrar General’s Department offers a 24-hour online registration service through ghana.gov.gh.
What happens if I don’t register my business?
Operating an unregistered business is illegal in Ghana and may result in fines, business closure, and inability to:
- Open a business bank account
- Apply for business loans
- Bid for government contracts
- Protect your business name legally
How often do I need to renew my business registration?
Business name registrations must be renewed annually at a cost of GH¢70. Limited companies must file annual returns with updated financial statements.
Key Institutions for Business Registration in Ghana
Office of Registrar of Companies (ORC):
- Address: Examination Loop, Behind Ridge Hospital, Accra
- Phone: +233 55-343-6075 / 59-952-5774
- WhatsApp/Telegram: 0599-525-774
- Email: info@orc.gov.gh
- Website: orc.gov.gh
Ghana Revenue Authority (GRA):
- Website: gra.gov.gh
- Services: TIN registration, tax compliance, VAT registration
Ghana Investment Promotion Centre (GIPC):
- Services: Foreign investment facilitation, business support
- Website: gipcghana.com
Social Security & National Insurance Trust (SSNIT):
- Services: Employee pension registration
- Website: ssnit.org.gh
Final Thoughts: Start Your Business in Ghana Today
Starting a business in Ghana has never been easier thanks to streamlined online registration, government support, and a thriving economy. Whether you’re launching a small sole proprietorship or establishing a limited liability company, following this guide will ensure you meet all legal requirements and set your business up for success.
Ready to start your business journey?
- Create your business plan
- Get your TIN from GRA
- Register online at ghana.gov.gh
- Obtain your operating permit
- Register with SSNIT
- Start operating legally!
Need help with your business registration? Contact BizAssurance for expert guidance, or reach out to the Office of Registrar of Companies directly via WhatsApp at 0599-525-774 for assistance.
Good luck with your new business venture!
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