GHANA INVESTMENT PROMOTION CENTRE ACT – (ACT ) . Section – 17 – Application Of Act. This Act does not apply to mining and petroleum. Under the Ghana Investment Promotion Centre Act, (Act ), any enterprise in which there is foreign participation is required to register with the Ghana. Ghana Investment Promotion Centre ACT, Act E-mail · Print. Ghana Investment Promotion Centre ACT, Act Click to download full document.
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Ghana is open for business again! All government departments, government agencies and other public authorities shall co-operate fully with the Centre in the performance of its functions under this Act.
The Centre shall be responsible to the President. Section – 39 – Regulations. These laws are based gipx a framework of legislation relating to business activity, copyrights, patents, trademarks, disputes and labour relations. There shall be provided to expatriate personnel employed or engaged in an enterprise to which this Act is applicable, banking facilities through authorised dealer banks for making remittances abroad except that such remittances shall not exceed the total official wage of the expatriate personnel.
Republic of Mauritius May 5. Republic of Barbados 28 -April 9. Leave a Reply Cancel reply.
Ghana Investment Promotion Centre Act – GhanaLegal – Legal Portal for Ghana
Doing Business and Applicable Laws in Ghana Laws applicable to the operation of business in Ghana conform to international standards and best practice. The Ghana Investment Promotion Centre Act, Actprovides guarantees including prohibition against discrimination and expropriation to all enterprises.
Section – 3 – Functions Of The Centre. Subject to this section an enterprise to which this Act applies shall be guaranteed unconditional transferability through any authorised dealer bank in freely convertible currency of- a dividends or net profits attributable to the investment; b payments in respect of loan servicing where foreign loan has been obtained; c fees and charges in respect of any technology transfer agreement registered under this Act; and d the remittance of proceeds net of all taxes and other obligations in the event of sale or liquidation of the enterprise or any interest attributable to the investment.
Sanctity of contracts ensures respect for commercial rights and obligations. The Kingdom of the Netherlands March 1-July 3. Section – 28 – Guarantee Against Expropriation. Laws applicable to the operation of business in Ghana conform to international standards and best practice.
The Kingdom of Spain 6-October — This Act does not apply to mining and petroleum enterprises. The Swiss Confederation 8-October January 6. Section – 26 – Priority Areas.
Laws & Regulations
Section – 33 – Technology Transfer Agreement. Section – 2 – Objects Of Centre. The details are indicated in the following tables. Other initiatives include the establishment of one multi-purpose industrial park in each administrative region, One District, One Factory, Planting for Food and Jobs as well as the development of strategic anchor industries as new pillars of growth for the Ghanaian economy.
Republic of Benin May Federal Republic of Yugoslavia April- Section – 36 – Repeals And Saving. Section – 10 – Responsibility For The Centre. Mediation, arbitration and other alternative forms of dispute resolution are readily available and routinely used. Republic of Guinea May- Section – 21 – Establishment Of Enterprises. Section – 31 – Assistance To Enterprise. The Kingdom of Denmark January- 6-January- 5.
Section – 18 – Enterprises Reserved For Ghanaians. Republic of Burkina Faso May Section – 32 – Personal Remittances. The successful implementation of these several initiatives will create an industrialized economy that creates jobs; a modernized agricultural sector that emphasizes value addition and an integrated business infrastructure that truly cranks up the gpc sector as the engine of growth.
There are also numerous Public sector Ministries, Departments and Agencies as well as private legal, business consulting and accounting firms, which provide expert guidance on doing business in Ghana. Section – 20 – Export Trading Enterprises Exempted. The Centre shall provide to an enterprise such assistance and guidance as the enterprise may require and shall act as liaison between the enterprise and relevant government departments, agencies and other public authorities.
Section – 6 – Committees Of The Board. Section – 9 – Department Of The Centre.
Ghana Investment Promotion Centre ACT, 2013 Act 865
Section – 14 – Annual Report. Section – 30 – Immigrant Quota.
Key Investment related legislation in Ghana includes the following: Glpc Board may, on the recommendations of the Chief Executive, create such departments in the Centre as it may consider necessary for the efficient discharge of the functions of gipf Centre.
Section – 29 – Dispute Settlement Procedures. While addressing key challenges like stability of the macro economy, monetary and fiscal discipline and reliability of power for businesses, new initiatives like the stimulus package to improve the competitiveness of existing Ghanaian industries, reduction in the tax burden on enterprises and reform of the regulatory environment will lead to a more business friendly economy.
The financial year of the Centre shall be the acr as the financial year of the Government. Socialist Republic of Romania September 4. Section – 24 – Exemption Of Non-zero-rated Items.
Ghana is a member of the Multilateral Investment Guarantee Agency MIGA of the World Bank, which provides investment guarantees against non-commercial risks for investments in developing countries.