At the Atlantic Ocean along with the Gulf of Guinea is settled the Republic of Ghana. Ghana’s economy expanded in 2019 as the first-quarter gross domestic product (GDP) growth was estimated at 6.7%, compared with 5.4% in the same period in 2018. It has an economic plan target known as the "Ghana Vision 2020". This plan envisions Ghana as the first African country to become a developed country between 2020 and 2029 and a newly industrialized country between 2030 and 2039.
Disclaimer: Be aware that this article is not a substitute for legal advice. Please always check official websites or seek legal advice before you take action.
Sole proprietorship in Ghana
A sole proprietorship is a form of business where the business’s ownership and management are in the control of the same person. The proprietor is the sole owner of the idea and has full ownership rights of the business. They are responsible for all the debts and profits incurred in the business. In Ghana, sole proprietorship businesses are more common than any other form of business.
If you have been thinking about starting a business as a sole proprietor, the following article may help you with information on how to do so.
How to register a sole proprietorship
A sole proprietorship business probably the easiest form of business to set up. You should begin by choosing your business name. Head into The Registrar General Department (RGD) or apply online by attaching required documents:
- Filled registration form A
- Re-Registration form A
- Registration form D
Here you can find all the needed forms. They consist of the following requirements:
- Business name
- General nature of the sole proprietorship business (e.g., manufacturing, service, commerce, transport, construction, and others)
- The principal activity of the business
- Date of commencement of business
- Business location information (city, region, street, house/appartment)
- Sole proprietor personal details (surname, first name, middle name, date of birth, gender, occupation, marital status, etc.)
- Residential addresses of the business person; this includes where the proprietor lives; city, street, district, and other details.
The business name’s availability can be checked using a name search function at the RGD, but the final approval of the name lies to the RGD.
The registration fees are:
- ¢50 for a business name
- ¢25 for filling the D form
- ¢25 for annual renewal
- ¢10 for Certificated True Copy
You can make payments via NITA’s Ghana Electronic payment platform (GEPP) with multiple payment methods.
The RGD has incorporated two types of certified certificates for online business registration:
- Digital Certificates: available for 14 days and to be used electronically within 14 days; they can be requested again after 14 days at a fee of Ghc10.00 per document if the need be.
- Hardcopy Certificates: also made available to portal users; the Certificates are made available at the office depending on the region it was completed in during the online registration process.