Despite all the investments that followed after industrialization, infrastructure, and a series of independence restructurings, Ghana is still far behind in organizational set-up and procedures. The country’s inability to meet these requirements is largely due to the character and nature of its integration into the international system where it has been assigned the job of exporting primary products and consuming imported manufactured goods through the excessive liberalization of your economy.
That said, anyone who wants to start a business, more specifically a construction company in Ghana, has to go through a lot of hoops to get it up and running. Let us take a look at the method through which you can set up a construction company in Ghana.
Acquire a tax identification number
As of 2012, every entrepreneur must have a NIT to start a business. It takes a maximum of 2 days to obtain a TIN. If you are going to start a construction company in Ghana, you need to acquire a tax ID for your business.
Check Company Name Availability
Well, this one is definitely a no-brainer. You should check the list of registered construction companies in Ghana and make sure that your construction business is not using the same name as any of the previously registered companies.
Submit company documents to obtain certificate of incorporation
After making sure of the uniqueness of the name, the entrepreneur must go to the customer service office to submit the company documents for registration. The applicant can then obtain the prescribed Form A from the bank and return it to the bank after completion. After careful scrutiny, the registrar issues the registration certificate along with the original form to be submitted as an attachment.
The incorporation documents are made up of the following forms which can be downloaded from http://www.rgd.gov.gh.
Get your certificate authenticated
You must authenticate your obtained certificate in front of a Commissioner of Oaths.
Get the certificate to start the business
After incorporating the company, all pending documentation must be submitted within 28 days. The Business Registrar now automatically registers new businesses with the IRS.
Deposit the paid capital in an account
After all that, the following documents are required with the capital paid in a bank account:
– Copy of the company regulations.
– Certificate of incorporation
– Certificate to start businesses
– Signatures of Authorized Personnel of the Company.
Request Business Licenses
Each type of business license costs differently. In addition, the attached documents vary depending on the category in which your company falls. If you are a construction company in Ghana, you need to apply for a construction business license.
Have your workplace inspected
Being an affordable construction company, their official premises must be very up to the task in terms of security. Have an office visit your facility and report the findings to the RAMA (Metropolitan Assembly Reviewer of Accountants), who then submits the report to the Assembly Revenue Mobilization Subcommittee.
Apply for Social Security
In order to access social security, every company must present the following:
– List of employees
– Their Respective Salaries
– Social Security Numbers
– Certificate to start the business
– Certificate of incorporation