Are you wondering how to register your business in Ghana? The laws of Ghana mandate the Office of the Registrar of Companies (ORC) to register all businesses in Ghana. To register a business in Ghana, one must complete a set of business registration forms, pay the applicable fees, and submit the applications to the ORC.
Types of business registration in Ghana
There are various types of business entities that entrepreneurs/ investors can register in Ghana. There are legal provisions under the Companies Act 2019, Act 992, Registration of Business Name Act, 2012 (Act 837), Incorporated Private Partnership Act (Act 152) and the Public Private Partnership 202, Act (Act 1030) that regulate the formation of businesses in Ghana. It is imperative to choose the right legal structure that best serves your business activity. The various types of business registration are;
- Private Company limited by shares
- Company unlimited by Shares
- Company limited by guarantee
- External Company
- Partnership
- Sole Proprietor Business
Importance of business registration – Why should you register your business
- Business registration establishes the business as a legal entity.
- Business registration helps to stay compliant and mitigate risks.
- Registering your business formalizes your operations and helps position the business for growth and expansion.
- As a registered business it is much easier to sue, enter contracts and employ people among others.
- You need to register your business to be able to open a business bank account.
- It also improves the business brand and builds trust amongst prospective clients or customers.
Pre-Registration Steps
Before you register your business at the Office of the Registrar of Companies, there are a number of steps you should decide on. These are the first set of actions that one has to undertake.
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