Expand Business in Ghana

Ghana

Global Upside helps businesses expand into Ghana by providing talent acquisition, human resources, accounting, payroll, tax, incorporation, and professional employer organization (PEO)/employer of record (EOR) services. Our comprehensive offerings create an end-to-end solution that helps you establish your business and optimize your operations, all while maintaining compliance with Ghanaian laws and regulations.

The hiring and incorporation processes in Ghana are often complex, time-consuming, and involve numerous legal and compliance challenges. Global Upside simplifies these processes and lifts the compliance burden from your business. Our teams have the experience and expertise required to help you establish a legal entity in Ghana. We also offer PEO/EOR solutions to companies interested in hiring employees quickly, without setting up a legal entity in the country.

Capital City

Accra

Currency

Ghanaian cedi (GH₵)

Language

English

Government

Unitary Republic

Country Overview

Situated on the coast of the Gulf of Guinea, Ghana is a West African nation. It is one of the important countries of Africa, because of the substantial natural wealth and resources available.

  • Ghana is among the world’s leading producers of cocoa and is known for the excellent quality of its sun-dried cocoa.
  • Ghana exports crude oil, gold, cocoa, and timber..
  • Ghana’s primary imports include petroleum, food products, and equipment.

Options for setting up a legal entity in Ghana include:

Limited Liability Company (LLC)

A limited liability company (LLC) is a form of an entity set up that requires at least 1 investor. A Ghanaian LLC must have a registered office for all business operations.

Public Limited Company (PLC)

A public limited company (PLC) requires at least 1 investor. The shares of a PLC are available to trade publicly via a listing on the Ghana Stock Exchange (GSE).

It takes a minimum of four weeks to establish a legal entity set up in Ghana.

Employees in Ghana can enter into fixed-term or at-will contracts. Contracts can specify weekly or monthly payments of the wage. Agreements that mandate remuneration on a basis different from weekly or monthly are known as at-will contracts.

An employment contract needs to be in writing for an agreement of 6 months or more. Agreements for hiring casual employees need not be in writing. A casual worker must be paid compensation that is equal to that of a permanent employee for the same work, provided the same medical facilities, same overtime pay, and additional payment for coming to work in extreme weather conditions, if applicable.

A temporary worker who has completed a continuous 6 or more months of employment with one employer is treated as a permanent employee.

A probation period is allowed.

There are 13 paid public holidays in Ghana:

  • Jan. 1: New Year’s Day
  • March 6: Independence Day
  • Good Friday
  • Easter Monday
  • May 1: May Day
  • May 25: African Union Day
  • July 1: Republic Day
  • Eid-Ul-Fitr (date varies)
  • Sept. 21: Founder’s Day
  • Eid-Ul-Adha (date varies)
  • Dec. 6: Farmers’ Day
  • Dec. 25: Christmas Day
  • Dec. 26: Boxing Day

The payroll frequency, in Ghana, is monthly. However, few companies pay the employees every 2 weeks.

All companies in Ghana must prepare their financial statements per the International Financial Reporting Standards (IFRS).

Corporate Tax

The corporate tax rate in Ghana is 25%.

Value Added Tax (VAT)

The VAT rate in Ghana is 12.5%.

The Data Protection Act (DPA), 2012, Act 843 governs data protection in Ghana.

According to the law, employers must notify their workers about personal data processing, and the latter needs to provide consent wherever necessary.

Anti-Bribery & Anti-Corruption Law

The Ghanaian Criminal Code regulates bribery and corruption offenses. Section 239 (Act 29) of the Criminal Code is precisely about the corruption of public officials.

The legal consequence for bribery in Ghana is:

i) Imprisonment for up to 25 years

Currently, corporate bribery is not criminalized in Ghana.