The procedure for registering a sole proprietorship in Ghana is quite simple. Here are the steps to follow when registering a single business name. According to the same Law 151 of the Constitution of 1962, a sole proprietor is required to complete this form with registration form A. The details incorporated into the form include: You also need a TIN number to run a business at this level. TIN is an acronym that stands for Tax Identification Number. If you don`t have one, this is the procedure to get it in Ghana. These forms must be completed before your sole proprietor registration in Ghana can be considered valid. They are: There are pros and cons to choosing to do business as a sole proprietor. This form is the main document required for the registration of a sole proprietorship in Ghana. The form is provided for in the Business Registration Act 151 in the Ghanaian Constitution of 1962. It contains the following information: You can use this link to check the availability of your company name. If the name of your potential business is similar to that of an already registered company, it is advisable to change the name completely as it may not be approved. Before registering the sole proprietorship in Ghana, the sole proprietor must apply for a TIN from the Ghana Revenue Authority.
A TIN form is readily available online on the RGD or GRA (gra.gov.gh/ website. You must attach a copy of your identity card/ghana card and submit it. It takes approximately 1-2 days to obtain the TIN number once the application is submitted. A business name is the name by which people know your business. Therefore, it is important to choose a unique and relevant name for your business. After selecting the name of the company you want to use, the next step is to search by company name. It is necessary to perform a business name search to ensure that no other person uses the proposed company name. Since the registrar already has your business data, you don`t have to go through a lot of stress when renewing your business license. Once you have completed the form, your payment and submission will complete the process. After saving your company name and TIN number, the next step is to download your business registration forms and fill them out accordingly. Applicants are advised to read all instructions on the forms before filing them. If you want to know more about how to register a partnership company in Ghana, you can refer to this article.
The legal fee for registering a sole proprietorship is GHS 60. Payment must be made to the user bank of the Registrar General`s Department. An official receipt is issued All businesses registered with the Registrar General`s Department are required to renew their registration annually. Sole proprietorships are also required to submit their annual renewal as follows: Here are the practical steps to register a partnership company in Ghana. All persons or organizations must have a TIN for all their registered companies; if you decide to register more than one business unit or act as a director in more than one commercial organization. The information required to complete an individual TIN form includes: Only Ghanaians over the age of 18 are eligible to register sole proprietorships. You will need a Tax Identification Number (TIN) before registering the sole proprietorship. If you don`t have a TIN, you`ll need to get it by uploading a scanned copy of one of your government-issued photo IDs, for example: This is the first step you need to take when registering a sole proprietorship. You should discuss the best name with experts. Here`s a simple tip. Choose a name that attracts and correctly describes what you do.
All directors, secretaries and shareholders of the company are required to register and receive a TIN for business registration. Fill out the TIN forms and attach a copy of the photo ID (driver, passport biographical data, voter card). TIN numbers can also be created for commercial organizations. This situation becomes necessary if the shares of the company to be registered are held by a legal person. The forms are available on the official website of the Registrar General`s Department. You can use this link to download the company registration forms. The name of the company must be meaningful, relevant and unmistakable. Trade names that are too similar to existing names are likely to be rejected by the Registrar General`s Office. Persons who carry on or carry on such activities must register with the Office of the Registrar General. In this knowledge-based article, we will explore how to register a sole proprietorship in Ghana Sole proprietorship has several advantages and disadvantages. The main idea is that the sole proprietor enjoys the advantages and suffers from the disadvantages himself.
All this is available when registering a sole proprietorship in Ghana. .
