Our Regulator for today is the Ghana Investment Promotion Centre (“GIPC”). GIPC is governed by the Ghana Investment Promotion Centre Act 2013 (“Act 865”) and is responsible for regulating all forms of foreign direct investment in Ghana and technology transfer agreements.
The following entities are required to register with GIPC, after incorporation or registration at the Companies Registry:
- Wholly owned foreign companies;
- Joint venture companies partly owned by foreigners;
- External companies or branch offices of foreign companies; and
- Technology Transfer Agreements
Wholly owned Ghanaian companies may also register with the GIPC in order to enjoy the incentives offered under Act 865 such as certain tax exemptions.
It is important to note that some enterprises are reserved for Ghanaians or wholly owned Ghanaian companies such as:
- lotteries and pool betting;
- small scale taxi and car hire;
- barber and beauty salons;
- printing of recharge cards;
- production of stationary;
- pharmaceutical retail;
- production and sale of sachet water; and
- petty trading businesses.