Business Registration Act In Ghana

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Business registration means sending in an application with information about the business.

For example, a corporation registers with a state by completing Articles of Incorporation.

As part of the incorporation process, most states will automatically register the name.

Below are the Business Registration Act In Ghana

Persons to be registered

(1) Subject to subsection (2), there shall be registered in accordance with this Act,

(a) an individual having a place of business in the Republic, who

(i) carries on business under a business name which does not consist of the true surname of that individual without an addition other than the first names or the initials, or

(ii) has before or after the commencement of this Act changed the name of that individual, except in the case of a woman in consequence of marriage,

(b) a company carrying on business in the Republic under a business name which does not consist of its corporate name without an addition.

Registration is not necessary

(a) where the addition referred to in subsection (1) merely indicates that the business is carried on in succession to a former owner of the business, or

(b) where the business is carried on by a receiver or manager appointed by a court of competent jurisdiction.

Manner and particulars of registration

A person required under this Act to be registered, shall furnish to the registrar at the office of the registration a statement in writing in the prescribed form containing

(a) the business name,

(b) the general nature of the business,

(c) the principal place of the business,

(d) any other places at which the business is carried on,

(e) where the registration to be effected is that of an individual

(i) the present first name and surname of that individual,

(ii) the nationality and, if that nationality is not the nationality of origin, the nationality of origin of that individual,

(iii) the usual residence and other business occupation of that individual, and

(iv) whether that individual is under the age of twenty-one years at the date of furnishing the statement and, if so, the date of birth of that individual,

(f) where the registration to be effected is that of a company, its corporate name and registered office,

(g) the date of the commencement of the business.

Statement to be given by person registering

The statement mentioned in section 2 shall be signed,

(a) in the case of an individual, by the individual, and

(b) in the case of a company, by a director or secretary of the company.

What is the new company act in Ghana?

The new Act introduces reforms to company registration and regulation with the overall aim of simplifying the regulatory framework surrounding the incorporation and operation of companies while improving existing corporate governance standards that exist in the country.