Purple & Ashes Law

Investment Considerations and Compliance with GIPC Regulations

In addition to immigration requirements, foreign investors must also comply with the Ghana Investment Promotion Centre (GIPC) Act.

This law regulates foreign business ownership and sets minimum capital investment requirements. Currently, wholly foreign-owned businesses must invest a minimum of $500,000, while joint ventures with Ghanaian partners require at least $200,000 in capital.

For trading businesses, a higher threshold of $1,000,000 applies, alongside the requirement to employ at least 20 Ghanaian workers.
However, there have been discussions about amending the GIPC Act to make Ghana even more attractive to foreign investors by adjusting or removing some of these capital requirements.

Investors should stay updated on any policy changes by consulting the GIPC or legal experts to ensure compliance with the most current regulations.

The application process for work and residence permits must be handled with precision and attention to detail.

Swipe through to explore the different permit types and their specific requirements.

For personalised support, our contact information is provided on the final slide.

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Ghana's New Gold Board Act: A Significant Step Towards Strengthening the Gold Industry

Ghana has recently enacted the Ghana Gold Board Act, which establishes the Ghana Gold Board (GoldBod) to regulate and formalize the country’s gold industry. This new regulatory framework aims to address critical challenges in the sector, such as gold smuggling, unregulated trade, and inefficiencies in gold exports. The Act is designed to ensure greater transparency and create a more streamlined process for all stakeholders involved in Ghana's gold trade.

👉Key Focus of the GoldBod Act:☝️

The Ghana Gold Board Act emphasizes creating a formal system for the buying and selling of gold. By regulating the sector, GoldBod aims to curb illicit activities and ensure that gold transactions are processed through legitimate channels. This formalization is expected to lead to improved governance and a more stable market, which will in turn boost investor confidence.

✅️ Stabilizing the Economy🗯
One of the primary goals of the GoldBod Act is to strengthen Ghana’s foreign exchange reserves. By ensuring that gold exports are properly regulated and taxed, the country anticipates an increase in foreign exchange inflows. This could contribute to greater economic stability, particularly concerning currency exchange rates and inflation, benefiting businesses operating in the country.

✅️ Encouraging Investment in Ghana's Gold Sector🗯
Although the Act’s primary focus is regulatory oversight, it lays the groundwork for future opportunities in the gold sector. The formalization of the gold market could foster increased investment in refining, gold-backed financial products, and related industries. With improved governance and transparency, Ghana’s gold market will be more appealing to both local and international investors seeking to enter the industry or expand their operations.

✅️ Looking Ahead🗯
The Ghana Gold Board Act marks a strategic shift toward a more organized and regulated gold trade. While its full impact will become clearer as implementation progresses, this significant step aims to position Ghana as a key player in the global gold market.

🤝For businesses and investors, this may indicate a more stable environment and enhanced opportunities in the gold sector, reinforcing Ghana's commitment to fostering a business-friendly atmosphere.

E-Levy Abolished Effective April 2, 2025

The Ghana Revenue Authority (GRA) announces the abolition of the 1% E-Levy on electronic transfers, effective April 2, 2025. Charging entities must cease all deductions, and any unauthorized charges should be reported for a prompt refund.

Do read the full article above for more information about the repeal.
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Key interventions for Ghana’s 2025 budget include the 24-Hour Economy, a $10B ‘Big Push’ for infrastructure, GOLDBOD for gold regulation, and a Labour Export Programme. Job creation, stability, and growth at the core!