The level of unemployment in Ghana is constantly growing at an alarming rate, and this has prompted young individuals to look for alternatives to make ends meet.
One of such ways is becoming their own employers by establishing sole proprietorship businesses. Being a business model very easy to set up, it’s one of the best options for young individuals among the workforce of the country. The government on their side has ensured that registration of such businesses is made easy for the business owners.
It is important for a business owner in Ghana to have his business name registered with the registrar general department, this will ensure the business is seen as a legal entity and is protected by the laws of the government. In this article, we are focusing on how to register a sole proprietorship business in Ghana.
Requirements for Registering a Business in Ghana
For a sole proprietor to begin registration of his business in Ghana, he/she needs to in ensuring these documents are in place.
- A valid ID card (alongside work permit for foreigners)
- Tax identification number (TIN)
Before we proceed, let’s quickly show you how to register TIN if you don’t have it already.
How to Register TIN in Ghana
The Tax Identification Number (TIN) is a unique number given to taxpayers. Think of it as an account number/address the government uses to keep records of your tax transactions. TIN is given by the Ghana Revenue Authority (GRA), and it’s free. Before applying, you should have at least one of the following;
- Valid driver’s license
- Valid passport
- National ID card
It will be needed when filling the form.
There are generally two means you can use to apply for a TIN; by doing it online, or going to an office of the GRA. Let’s briefly discuss how it’s done online.
Procedure for Registering TIN in Ghana
Step 1: Visit the official website of GRA on gra.gov.gh
Step 2: click the menu button, and select “TIN”
Step 3: on this page, there is a short description of the procedure involved, and more information on the uses of TIN. Simply scroll down and click on “Online TIN Form”. This will take you to the Ghana Online Portal Access (GOPA) page.
Step 4: on the right side of the page, click on “New User”, and fill the registration form accordingly.
Step 5: confirm the email address you used for registration. Then go back to the homepage, and log in.
Step 6: on the dashboard, click on “start”, then select “TIN registration service”.
Step 7: before getting access to the registration form, confirmation of your valid ID card will be needed. Upload your ID to the place made available
Step 8: After successful confirmation, you can proceed to fill the registration form accordingly.
The whole process of giving TIN after registration usually takes 3-21 days.
Now, that you’ve received your TIN you can then proceed to register your business in Ghana. Below is a quick guide on how to register a sole proprietor business in Ghana
Procedure for Registering a Business in Ghana
Registration of a business in Ghana (any country actually) essentially begins with registering the business name. In this article, we’re focussed on highlighting the steps of registering a sole proprietorship business name.
- Visit a Registrar General Department (RGD) office, and request for the registration of a sole proprietor business.
- A form will be given (Form A) will be presented to you by the attendance at the service desk, pay for it, and fill the business registration for form accordingly.
- Submit your completely filled form to the registrar general alongside the relevant fees to the authorized bank.
- When registration is deemed successful by the registrar, you will be issued a certified true copy (CTC) of the registration form, alongside a certificate of business registration.
- On receiving these documents, you can then proceed to establish your sole proprietorship business in Ghana.
Cost of Registering a Business in Ghana
- The application form (form A) costs 3.50 GH₵
- Registration of a business name costs 50 GH₵
- CTC costs 10 GH₵
What is Registration Form A
Form A is made available as per act 151 of business name registration of the Ghana 1962 constitution. It is a document that every person who wants to register a sole proprietorship business must fill. The form contains the following;
- Business name
- Nature of the sole proprietorship business
- Basic activities of the business
- Date of establishment and location
- Personal details of the sole proprietor
- Permanent/residential address of the sole proprietor
We hope you find this guide on how to register your business in Ghana useful, if you have more concerns outside of what was discussed in this piece, you are welcome to share your thoughts in the comment section below.