Registering Company Limited by Shares
To register as a Limited Liability Company (LLC), the steps vary. You can signup to use our concierge services to register it for you, so you save time and money, or simply follow the steps below to do it yourself.
• Name Search
This starts the initial company registration process. You're are required to suggest and search a name which is not owned by another company or enterprise. After the name search, the owners apply for 30-days reservation of the business name.
• TIN registration for all company directors and shareholders
All directors and shareholders are required to have a TIN before the company is registered. All the directors, principle secretaries and shareholders are required to submit their tax information before the company is registered. According to the government of Ghana, all people are required to hold TIN numbers if at any chance they want to own a business. Important details captured in a TIN number include the following:
- Details of photo ID
- Postal addresses
- Contact information e.t.c.
• Form 3 and 4
In this step, the directors will be required to complete the returns particulars of the company (form 3). This involves all the specific information on shareholders, how dividends will be shared among other details. Some of the details found in forms 3 and 4 include the following:
- Name of the company
- Registration address
- Stated capital
- Business objectives
- Authorized and issued shares
- Principle place of the business
- Postal address
- Personal details of the principle secretaries, shareholders and directors
These officials are also required to sign against the forms at relevant places before they are submitted to the registrar general.
• Applicable Fees
Any person wishing to register a company to pay the following compulsory fees. Stumpy duty is at 0.5% of the stated capital. Therefore, you will be required to pay 0.5% of the capital upon registration.
The second type of registration fee imposed is incorporation and filling tax. This is usually paid when submitting the forms at the registrar offices. Its usually 330 cedis and is advisable to be paid cash.
• Registration Certificates
When the whole registration procedure is followed, the directors should wait for a maximum of 14 days before they can go and collect the following documents. Certificate of registration Forms 3 and 4 Certificate of commencement of business Company regulations.
From here, the company will be fully registered and ready to start operations. With the knowledge on how to register a sole proprietorship business in Ghana, it is possible to start the process whenever you are ready. It is easy to learn how to register a business in Ghana and get yourself started.