How to start a business in Ghana as a foreigner (2026)

Legal framework

Companies Act 2019 (Act 992) governing incorporation; Ghana Investment Promotion Centre Act 2013 (Act 865) governing foreign participation and minimum capital; Office of the Registrar of Companies (ORC) as the registration authority

Key points: starting a business in Ghana

1. 01Mandatory GIPC registration

   Every enterprise with any degree of foreign ownership must register with the Ghana Investment Promotion Centre under GIPC Act 865. Wholly Ghanaian-owned enterprises are exempt. GIPC registration is separate from and additional to ORC company incorporation.

   gipc.gov.gh investmentpolicy.unctad.org

2. 02Minimum capital requirements

   Wholly foreign-owned enterprises must invest at least US$500,000; joint ventures with a Ghanaian partner holding at least 10% equity require US$200,000. Trading enterprises, regardless of ownership split, require US$1,000,000 and must employ at least 20 skilled Ghanaians. Capital can be in cash or capital goods. No minimum capital applies to manufacturing, export trading, or portfolio investment.

   gipc.gov.gh trade.gov gipc.gov.gh

3. 03Sectors reserved for Ghanaians

   Section 27(1) of GIPC Act 865 bars non-citizens from petty trading, selling in markets or stalls, hawking, operating sachet water businesses, retailing pharmaceuticals, printing basic stationery, running taxi services with fewer than 25 vehicles, and operating lotteries (except football betting). Foreigners caution-warranted in any retail-adjacent activity.

   lexmundi.com gipc.gov.gh

4. 04Incorporation steps and timeline

   The process involves: (1) name search/reservation at ORC; (2) obtaining Tax Identification Numbers (TINs/Ghana Card PINs) for all directors and shareholders; (3) preparing constitutional documents; (4) submitting via ORC e-Registrar portal or in person; (5) paying registration fees; (6) post-incorporation GIPC registration. Standard processing takes a few days to two weeks; a 48-hour expedited 'Prestige Service' is available at additional cost.

   orc.gov.gh ghana.gov.gh

5. 05Foreign ownership ceiling

   There is no general ceiling on foreign equity outside reserved sectors, 100% foreign ownership is permitted for most business activities provided the US$500,000 capital threshold is met and GIPC registration is completed. Joint ventures have no foreign equity cap but the Ghanaian partner must hold at least 10% for the lower US$200,000 capital threshold to apply.

   gipc.gov.gh trade.gov

6. 06Pending reform: capital requirement removal

   A Ghana Investment Promotion Authority Bill pending in Parliament as of early 2026 proposes eliminating the minimum capital requirements for joint ventures and wholly foreign-owned non-trading companies, retaining the US$1,000,000 floor only for trading enterprises. The bill had not been enacted as of February 2026.

   africandiasporagroup.org thebftonline.com

Timeline of decisions

1. 12 Jan 2026Enforcement
   ORC begins enforcing GH¢500 daily penalties for beneficial-ownership non-filing

   The Office of the Registrar of Companies issued a circular activating a GH¢500-per-day administrative penalty, plus potential criminal fines of GH¢1,800-GH¢3,000 and imprisonment of 1-2 years, against companies that missed the October 2025 beneficial-ownership filing deadline. This marks the first active enforcement phase under the Companies Act 2019 BO regime.

   Citi Newsroom

2. 30 Oct 2025Guidance
   ORC sets October 30 deadline for all companies to file beneficial-ownership data

   The ORC directed all companies incorporated before January 2020 that had not yet disclosed their beneficial owners (individuals with ≥25% ownership or significant control) to file by 30 October 2025 or face escalating penalties. Over 175,984 companies had complied by the deadline date.

   GhanaWeb / ORC directive

3. 19 Aug 2025Decision
   President Mahama announces abolition of minimum foreign-capital requirements under new GIPA Bill

   Speaking at TICAD-9 in Yokohama, President Mahama announced a revised Ghana Investment Promotion Authority (GIPA) Bill that removes the longstanding minimum stated-capital thresholds ($200,000, $1,000,000) for foreign investors. Ghana's Parliament subsequently passed the Bill in 2026, replacing GIPC Act 865; presidential assent was still pending as of May 2026.

   Mondaq / Graphic Online

4. 13 Aug 2025Guidance
   ORC announces digital-reset reform package for business registration

   Newly appointed Registrar Maame Samma Peprah announced a package including operationalising a call centre, rolling out a new World Bank-supported online registration platform, and opening a Prestige Centre to reduce in-person queues. The reforms aim to cut registration time and cost and improve data quality across government.

   Ghana News Agency

5. 1 Jan 2023Law · official
   Companies Regulations 2023 (L.I. 2473) issued, operationalising beneficial-ownership and registration procedures

   The subsidiary legislation required under Act 992 was gazetted, prescribing detailed procedures for company registration, beneficial-ownership data collection, annual returns, mergers, and the appointment of auditors and company secretaries. It provided the regulatory backbone the ORC needed to begin systematic BO collection.

   Office of the Registrar of Companies (ORC)

6. 22 Jul 2022Decision
   President Akufo-Addo officially launches the Office of the Registrar of Companies (ORC)

   The ORC became fully operational as a standalone statutory body separate from the Registrar-General's Department, taking over all company and business registration functions. The separation was required by Act 992 within two years of its enactment and was framed as a key anti-corruption measure through its mandatory BO register.

   Ghana News Agency

7. 2 Aug 2019Law · official
   Companies Act 2019 (Act 992) enacted, replaces 56-year-old Companies Code

   The Act overhauled Ghana's corporate law by abolishing the certificate to commence business (replaced by a single Certificate of Incorporation), creating the ORC, lowering the age of majority for company formation to 18, mandating beneficial-ownership disclosure, authorising electronic filings, and strengthening corporate-governance requirements. It repealed the Companies Code 1963 (Act 179) in full.

   GhaLII (official Ghana legislation portal)

8. 6 Oct 2017Decision
   VP Bawumia launches online e-registration system for the Registrar-General's Department

   The e-registration platform, built by GCNet under the World Bank eGhana project, enabled name searches, name reservations, company registration, regulatory filings, and e-payments fully online. Online transactions grew from roughly 3,000 in 2016 to over 11,000 by September 2017, dramatically cutting in-person queues.

   Ghana Financial Market / GCNet

9. 26 Aug 2013Law · official
   Ghana Investment Promotion Centre Act 2013 (Act 865) enacted, updated foreign-investment entry rules

   Act 865 replaced the 1994 GIPC Act (Act 478), retaining minimum capital requirements ($200,000 for joint ventures, $500,000 for wholly foreign-owned entities, $1,000,000 for trading companies) and requiring all enterprises with foreign participation to register with GIPC in addition to the Registrar-General. It remained the primary foreign-investment entry framework until the 2025-2026 GIPA reform.

   Ghana Investment Promotion Centre (GIPC)

10. 15 Sept 1995Law · official
    Ghana Free Zones Act 1995 (Act 504) enacted, export-oriented investment pathway

    The Act established the Ghana Free Zones Board and created a parallel registration and incentive regime for businesses exporting at least 70% of output, including a 10-year corporate-tax holiday. It gave export-focused startups an alternative incorporation pathway and attracted significant foreign manufacturing investment.

    GhaLII (official Ghana legislation portal)

11. 1 Jan 1994Law · official
    Ghana Investment Promotion Centre Act 1994 (Act 478) enacted, first dedicated investment framework

    Act 478 established the GIPC as the primary body to register, monitor, and promote foreign direct investment, introducing for the first time explicit minimum stated-capital thresholds as a condition of business entry for non-Ghanaian investors. It replaced the earlier Investment Code 1985 and defined the foreign-investment registration duality (GIPC plus Registrar-General) that persisted for three decades.

    Ghana Investment Promotion Centre (GIPC)

12. 1 Jul 1963Law · official
    Companies Code 1963 (Act 179) enters force, Ghana's foundational corporate registration law

    Enacted on 28 May 1963 and operational from 1 July 1963, Act 179 codified and unified Ghanaian company law, established the Companies Registry, and set out the original framework for incorporation, annual returns, and dissolution that governed business formation for 56 years until superseded by Act 992 in 2019.

    GhaLII (official Ghana legislation portal)

Sources

1. 1.gipc.gov.gh/gipcsite/?page_id=4232
2. 2.orc.gov.gh/service/business-registration/
3. 3.gipc.gov.gh/wp-content/uploads/2023/04/COMPANIES-ACT-2019-ACT-992.pdf
4. 4.investmentpolicy.unctad.org/investment-laws/laws/196/ghana-investment-promotion-act-
5. 5.trade.gov/market-intelligence/ghana-company-registration-requirements
6. 6.trade.gov/country-commercial-guides/ghana-market-entry-strategy
7. 7.lexmundi.com/guides/foreign-investment-restrictions-guide/jurisdictions/africa/gha
8. 8.africandiasporagroup.org/ghana-reforms-stated-capital-requirement/
9. 9.thebftonline.com/2026/02/03/gipc-act-865-review-to-deepen-local-participation-create-j
10. 10.ghana.gov.gh/mdas/05f4114eba/