The thrust of the Government's policy directive is on:
A liberalized trade (import/export) regime within the spirit and principles of the World Trade Organization (WTO).
Liberalized investment regime sustained by a targeted investment drive;
An export oriented, value-addition industrial development strategy;
Free zone development encompassing:-
Factory specific and export processing zone (EPZ)
Liberalize skies
Free ports
Investment Procedures
Under the Ghana Investment Promotion Centre Act, 1994 (Act 478), investment projects in all sectors of the economy, other than the mining and petroleum sectors, can be established without prior approval of GIPC. Mining and petroleum sector projects have to be approved or licensed by the Minerals Commission and the Ghana National Petroleum Corporation, respectively. All investors intending to invest in Ghana should first register as business entities (Limited Liability Company, partnership, sole proprietorship. Etc) with the Registrar-General's Department under the relevant laws.
Enterprises with foreign participation i.e, joint ventures and wholly foreign-owned enterprises, must complete application forms from the GIPC ( Ghana Investment Promotion Center ) for the purposes of registering the actual minimum foreign capital requirement (as evidenced by bank transfers in the case of cash transfers) and customs entry forms for investment goods. GIPC has five working days to complete this formality if registration documents are received in good order. Wholly Ghanaian-owned enterprises do not need to register with GIPC since the minimum foreign capital requirement does not apply to such enterprises. All facilities in respect of expatriate personnel (expert) for their business should satisfy the relevant minimum capital requirements specified under section 30 of Act 478.
Enterprises seeking exemption from import duties and related charges should send invoices for clearance directly to CEPS, which will automatically clear all such investment capital goods and parts thereof as zero-rated (duty free) in their tariff code. A list of all such zero-rated investment capital goods and parts thereof is available at GIPC. In addition, all enterprises must deal directly with the Internal Revenue Service with respect to the enjoyment of tax incentives in relation to their investments. Al list of such investment-related tax incentives is available at GIPC.
GIPC assists all enterprises in their dealings with government officials, providing advice as well as serving as a facilitator to ensure unimpeded establishment and operation of business in Ghana .
Notice to Prospective Investors
Ghana is an ideal location to do business and all prospective investors are welcome and, are indeed given the necessary assistance to establish and operate their business.
For avoidance of doubt, all prospective investors and foreign business collaborators are hereby advised to, in the first instance, deal with the under-listed official channels in exploring business opportunities and/or establishing operations in Ghana .
1. For information on investment opportunities, registration of projects involving foreign participation, and general investment:
The Chief Executive, Ghana Investment Promotion Centre, P. O. Box M193 , Accra ,
All application forms for Licenses to purchase Diamond may be obtained by any foreign company and/or individuals from the PMMC. Completed forms must be returned to the Managing Director of PMMC with a non-refundable fee of US$100.
Processing of application forms requires a confidential status report on the company. Whilst this is being done, a temporary license may be issued not exceeding six months. A company so issued with a temporary license may commence purchase of rough diamonds only upon the payment in full of US$1,000 per month for the period approved and an up-front payment transfer of not less than UD$250,000 is required. All unutilized funds will be transferable. Fees for permanent licenses are US$12,000 per annum. This is renewable every year.
A temporary or permanent buyer must engage resident valuer(s) to purchase the rough diamonds by negotiating directly with local winners and agents alongside other buyers at competitive prices
All purchasing activity must be done in this office at Diamond House and not at the mining sites.
Rough diamonds purchased by License Buying Agents are kept in a special box at the end of each working day and transferred to PMMC for security safe keeping until required by the agent.
On March 6, 1957, Ghana became the first country in Africa south of sahara to gain independence from colonial rule. 2009, marks 52 years of independence.
