Doing Business & Applicable Laws in Ghana
Laws applicable to the operation of business in Ghana conform to international standards and best practice. These laws are based on a framework of legislation relating to business activity, copyrights, patents, trademarks, disputes and labour relations.
Ghana subscribes to a number of international conventions on industrial and intellectual property such as the World Intellectual Property Organization (WIPO). There are also numerous Ministries, Departments and Agencies in the public sector; as well as private legal, business consulting and accounting firms, which provide expert guidance on doing business in Ghana.
Sanctity of contracts ensures respect for commercial rights and obligations. Damages are compensatory, not punitive; and an independent court system ensures equitable protection of rights. Mediation, arbitration and other alternative forms of dispute resolution are readily available and routinely used.
Key Investment related legislation in Ghana includes the following:
Investment Opportunities In Ghana
The Ghana Investment Promotion Centre Act, 2013 (Act 865) provides guarantees including prohibition against discrimination and expropriation to all enterprises. Click here for the Document.
Subject to the Foreign Exchange Act, 2006 (Act 723) and the Regulations and Notices issued under the Foreign Exchange Act, an enterprise is guaranteed unconditional transferability through any authorized dealer bank in freely convertible currency of the following:
- Dividends or net profits attributable to the investment made in the enterprise;
- Payments in respect of loan servicing where a foreign loan has been obtained;
- Fees and charges in respect of a technology transfer agreement registered under this Act;
- The remittance of proceeds (net of all taxes and other obligations) in the event of sale or liquidation of the enterprise or any interest attributable to the investment in the enterprise.