Ghana is often ranked, according to the World Bank's Doing Business, as one of the easiest places to do business in West Africa, although there is a faint shadow of qualifiers over this jurisdiction that could diminish its attractiveness to investors such as bureaucratic hurdles, cultural difference, or attempted scams, Ghana is still well placed on the list of desirable markets for doing offshore business in the region.

Ghana's regulatory and legal framework allows the creation of companies wholly owned by foreign citizens or companies in all sectors of activity, without there being an obligation to partner with local partners.

A few years ago Ghana modified the regulations for the creation of companies and now the Foreign Investment Law (Ghana Investment Promotion Centre Act 2013 865) protects the existence of the local partner figure, as opposed to the previous law that did not require them.

However, the legislation offers certain advantages if you invest in the country with a local partner. Knowing certain aspects of the market and in sectors, such as commercial distribution, it is highly advisable to have a local agent with in-depth knowledge of the commercialization in the country.

Regarding the incorporation of offshore offices in Ghana, a representative office can be created, which has the same legal treatment as a branch office.

Another novelty in force since 2013 is to renew the registration of companies with foreign capital in GIPC. Updating information on the identity of the legal owners is mandatory.

Ghana has signed double taxation treaties for dividends, interest, royalties, and management and technology transfer fees with 12 countries, including Belgium, France, Germany, South Africa, Sweden and the United Kingdom.
Branches of foreign companies also pay corporate taxes at a rate of 25% plus an additional 10% on remittances.

Ghana has dismantled foreign exchange and capital controls, allowing foreign-owned companies to freely repatriate their profits abroad as long as they do so through a licensed bank.

Foster Swiss specializes in implementing business in the different countries, which means they offer value-added services helping clients in their overseas expansion. Please consult a financial advisor for more information, info@fosterswiss.com