Ghana amends customs act regarding bonded warehousing. Ghana the world factbook central intelligence agency. Gipc act under the ghana investment promotion centre act, 20 act 865, any enterprise in which there is foreign participation is required to register with the ghana investment promotion centre gipc. Ghana free zones board if you are looking beyond the horizon for where to locate your business, then you are at the right place ghana free zones board gfzb.
Implementation of the program began in september 1996 with the establishment of the ghana free zones board secretariat 27. We will make you billionaires free zones board baits. Its important and expected role requires the board to. The ghana free zones board gfzb yesterday opened its maiden edition of investment week celebration to create the platform for local businesses to take advantage of its exportoriented programmes. The ghana free zones programme is designed to promote processing and manufacturing of goods through the establishment of export. The sale of anything whatsoever in a market, petty trading, hawking or selling from a kiosk at any place.
Ghana free zones board is being destroyed by corruption. Pricewaterhousecoopers ghana limited 1 october 2010 this edition of on point, our abridged tax newsletter, focuses on recent amendments to the ghanaian tax laws and general updates regarding tax issues in ghana. Ghana free zones authority licenses 16 new companies. The ghana free zones authority gfza, is a ghanaian governmentcontrolled institution formed on 31 august 1995 to facilitate the setting up of free zones in ghana to improve the economic development and to regulate its related activities. The legislation governing the gfza creates an attractive environment through the provision of very attractive incentives to free zone companies. Free zones authority sets up oil and gas department. Ghana free zones board august 23, 2017 tune in to happy fm 98. Ghana free zones authority plans for special economic zones. Production at jubilee, ghanas first commercial offshore oilfield, began in middecember 2010. Free zone companies in ghana add your free listing. Ghana free zones authority is making sure there is strict. Provides for the establishment and regulation of import and export free zones.
An act to enable the establishment of free zones in ghana for the promotion of. An act to enable the establishment of free zones in ghana for the promotion of economic development. The ghana free zones authority gfza was established on august, 1995 by an act of parliament the free zone act 1995 act 504, is to enable the establishment of free zones in ghana for the promotion of economic development. Banks and special deposit act, 2016 date of assent. See section 1 3 and 4 arrangement of sections section part ipreliminary i short title and commencement. The currently foreseen date of creation of wamz is 2015. Ghana free zones board is being destroyed by corruption the campaign by media watch research associates. Expansion of ghanas nascent oil industry has boosted economic growth, but the fall in oil prices since 2015 reduced by half ghanas oil revenue. Banks and special deposit act, 2016 act 930 date of assent.
Ghana free zones authority enclave animation duration. Free zone companies in ghana including accra, and more. This act enable the establishment of free zones in ghana for the promotion of economic development. Executive chairperson of reroy group, a leading cable manufacturing company, kate quartey papafio has been awarded in this years ghana women excellence in business awards.
The ghana free zones authority gfza was set up to enable the creation of free zones in ghana and to regulate free zones activities within the country. To make it easier for free zone developers to acquire the various licenses and permits to operate, the ghana free zones authority gh provides a onestop approval service to assist in the completion of all formalities. The ghana free zones board, which is the government agency responsible for the implementation of the programme, is achieving positive results. The ghana free zones authority participated in the 2nd ghana malta business forum on the 2nd march 2020 which took place at movenpick ambassador hotel in accra. The ghana free zones authority gfza was established by an act of parliament, the free zones act 1995 act 504 in 1995. Ghana free zones board recognised for excellence graphic. Ghana library board act ghanalegal legal portal for ghana. Legislation online parliament of ghana pdf consulted on 20211 abstractcitation.
In exercise of the powers conferred on the minister responsible for trade and industry by sections 262 and 41 of the free zone act 1995 act 504, and after consultation with the minister responsible for customs and exercise and the commissioner of customs, excise and preventive service in accordance with section 262 of act 504, these regulations are made this 22nd day of february, 1996. Amendment to the free zones act, 1995 act 504 the parliament of the republic of ghana has passed an amendment to the free zones act, 1995 act 504 by issuing a legislative instrument l. Aug 29, 2017 the ghana free zones board gfzb on monday opened its maiden edition of investment week celebration to create the platform for local businesses to take advantage of its exportoriented programmes. The free zones programme in ghana offers you a conducive business environment to produce at minimum cost for export. The ghana free zones authority gfza is the sez authority in the country, in accordance with the free zone act of 1995. This act consolidates all laws relating to labour, employers, trade unions and industrial relations. Here is how to obtain freezone license for your business. The act received presidential assent in august 1995. Amendment to the free zones act, 1995 act 504 the parliament of the republic of ghana has passed an amendment to. Company is working in associations business activities.
It was enacted by an act of parliament, the free zone act 1995 act 504. Michael kofi baafi as he educates and informs ghanaians about the role of free zones in achieving the industrialisation agenda of npp. Free zone amendment act 2002 free zones act 1995 free zone act no. Ghana investment act schedule section 18 enterprises wholly reserved for ghanaians 1. Free zones authority to revoke license of inactive companies. The ghana free zones authority gfza was established on 31st august, 1995 by an act of parliament1995 act 504, to enable the establishment of free zones for the promotion of economic development. Meet the aggressive marketer, ceo of the ghana free. There is established by this act a board which is the ghana free zones. The laws dealing with civil nuclear liability are provisions in the ghana nuclear bill, 2009, which was submitted to the cabinet for consideration. The labour act regulates the payment of wages and requires that wages be paid in legal tender to all classes of workers. Bugri current dynamics of agricultural investments in ghana. The ghana free zone authority was established on august 31, 1995 by an act of parliamentthe free zones act, 1995 act 504, to enable the establishment of free zones in ghana. A comparative analysis of effective free trade zone policies. The ghana free zones board represents the principal catalyst for the exportoriented industrial development in ghana.
Further, to provide for the regulation of activities in free zones and for related purposes. The chief executive officer of ghana free zones authoritygfza michael okyere baafi is participating in the oman economic, industrial and free zone summit 2019 in muscat. Ghana investment promotion centre act 20, act 865 technology transfer regulations, 1992, li 1547 transfer pricing regulations, 2012 l. A free trade zone ftz is a class of special economic zone. The free zone act 1995, act 504, was passed on 31st august, 1995 for the promotion of economic development, to provide for the regulation of activities in free zones and for related purposes.
Ghana free zones to subsidize electricity cost for members. The ghana free zones board was established by an act of parliament, act 504, to develop ghana into a hub for the manufacture and processing of commodities for export. Gold, oil, and cocoa exports, and individual remittances, are major sources of foreign exchange. To create a free zone, the president of ghana must declare that an area of land or building is a free zone or single factory zone. Petroleum revenue management act, 2011 act 815 petroleum revenue management amendment act 2015, act 893 petroleum local content and local participation regulations, 20 l. Free zones board, referred to in this act as the board.
The companies act, 1963 act 179 income tax act, 2015 act 896 fisheries act, 2002 act 625. It will enable importers to fill out documentation online to expedite the cargo clearance process. A nonghanaian may undertake this service provided he has a minimum fleet of ten new vehicles. Ghana, a commonwealth member country, has over the years made positive. If you are looking beyond the horizon for where to locate your business, then you are at the right place ghana free zones board gfzb. They include gold coast refinery, juaben oil mills, regency salt limited, ramec limited, nurevas food ghana limited and karma distillery limited. The move is in conformity with the ghana shippers authority regulations, li 2190 of 2012. Gfzb stands for ghana free zones board established under the free zone act, 1995. There is established by this act a board which is the ghana free zones board. The free zones board fzb is the statutory body created to manage and implement the free zones programme. All the emerging countries are included in that list. Amends section 34 by adding a new subsection 4 concerning tax obligations foreign employees towards the ghana government.
Its important and expected role requires the board to be the channel through which the exportled development policy is achieved. Gfzb is defined as ghana free zones board established under the free zone act, 1995 somewhat frequently. How is ghana free zones board established under the free zone act, 1995 abbreviated. Exploring opportunities offered by the ghana free zones board established on 31st august, 1995 by an act of parliament to enable the establishment of free zones in ghana for the promotion of economic development, to provide for the regulation of activities in free zones and for related purposes.
Act 663, company, ghana, goods, public procurement act 2003. Labour employment the labour act 651 of 2003 regulates employment and labour issues in ghana. It is a geographic area where goods may be landed, stored, handled, manufactured, or reconfigured and reexported under specific customs regulation and generally not subject to customs duty. At the national level, the tuc represents organized labour and civil society in key national bodies, institution, commissions, boards and committees such as ssnit board, ntc, media commission, nacl, national population council, divestiture implementation committee, ghana free zones board, nvti, public utilities regulatory commission, national. Audit report global fund grants in the republic of ghana. The third edition which took place over the weekend is an annual event, which is meant to celebrate ghanaian women who are excelling in various fields of endeavour and contributing. Ghanas special economic zone sez regime remains in inception stages despite the relative success in filling the tema free zone, two hours outside of accra. The ministry of trade and industry oversees the work of the board. Legislation online parliament of ghana, ghana pdf doc. Free trade zones are generally organized around major seaports, international airports, and. How to obtain free zones licence in ghana legalstone. There is established by this act a board to be known as the free zones.
The act was assented to by the president on 29 december 2017 and the gazette notification was issued the same day. Enterprises to ensure compliance to the free zone act and any other laws relevant to free zone. The parliament of ghana has passed the customs amendment no. The summit is being hosted by ithraa and free zone watch, in partnership with oman chamber of commerce and industry with the theme. Aug 29, 2017 this comes as a response to repeated complaints from some companies operating in the free zones enclave that the existing cost of power supply 20 cents per kilowatts makes their operations unsustainable. Laws applicable to the operation of business in ghana conform to. The ghana free zones authority gfza was established on 31st august, 1995 by an act of parliament the free zone act 1995 act 504, is to enable the establishment of free zones in ghana for the promotion of economic development. Ghana and also to provide for the regulation of activities in the free zones and its related purposes. A lack of resources has limited the effectiveness of the authority. Responsibility of customs excise and preventive service i the customs excise and preventive service shall be responsible for the control of zerorated goods a within a free zone.
The ghana free zone board gfzb was established by the free zone act, 1995 act 504 as amended by the free zone amendment act, 2002 act 618 to enable the establishment of free zones in ghana for the promotion of economic development. The ghana free zones authority was established on 31st august 1995 by an act of parliament to enable the establishment of free zones in ghana for the promotion of economic development, to provide for the regulation of activities in free zones and for related purposes. In ghana, companies registered under the ghana free zones authority gfza are taxed at a rate of 1% for the first ten 10 years of their operation, and thereafter at a rate of 15% on income. There is establishment by this act a board to be known as the free zones board, referred to in this act as the board. Factories, offices and shops act 1970 act 328 section 1register of factories the chief inspector shall keep a register of factories in which he shall cause to be entered such particulars in relation to every factory required to be registered under this act as he may consider necessary or desirable.
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