- 8 Marks
Question
Ghana has a lot of opportunities for both local and foreign investors. The Ghana Investment Promotion Centre has demonstrated in many ways the policy consideration behind the promotion of investment to both Ghanaians and foreigners.
Foreigners must meet certain basic conditions before they are permitted to undertake business activities in Ghana.
Required:
Discuss THREE (3) ways a foreigner may participate in business activities in Ghana.
Answer
- A foreigner who may want to partner with an indigene is required to bring into the country an amount in US Dollars not less than 200,000 in cash or capital goods relevant to the operation or a combination of both. With a minimum of 10% as equity to the Ghanaian partner.
- If the foreigner wants to go solo in the operation, the foreigner must bring a capital of 500,000 USD in cash or capital goods relevant to the business operation or a combination of both.
- A foreigner that wants to go into trading shall bring into the country an amount of 1,000,000 USD in cash or goods and services. With a minimum of 20 skilled Ghanaians. The following do not constitute trading: Manufacturing, exports, and portfolio investment.
- Topic: Tax administration in Ghana
- Series: NOV 2023
- Uploader: Theophilus