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$300,000 Start-up Capital: Ghana Exempts ECOWAS Citizens - Politics - Nairaland

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$300,000 Start-up Capital: Ghana Exempts ECOWAS Citizens by White007(m): 11:01pm On Jul 13, 2012
By VICTORIA OJEME

ABUJA-Ghanaian authorities yesterday clarified that only non-ECOWAS citizens doing business in Ghana are expected to have proof of start up capital of $300,000 before they are allowed to go into wholesale trading business.


A statement issued in Abuja by the Ghanaian Embassy, on behalf of the country's Ministry of Trade and Industry, however insisted that ECOWAS citizens wishing to go into trading business in Ghana must register their businesses with the Registrar General's Department, as well as Ghana Revenue Authority and obtain valid Residence Permit.

The statement made available by the Deputy Head of Mission of Ghana High Commission, Mrs Irene Maamah, also stated that the directive by the Inter-Agency Taskforce requesting ECOWAS traders to relocate out of the markets to commercial areas have been put in abeyance for one month, after the authorities met with a delegation of ECOWAS parliament.

According to the statement, "the taskforce is making some exceptions for ECOWAS citizens in recognition of the ECOWAS protocol on the right of residence and establishment. Specifically ECOWAS citizens are not being asked to have invested $300,000.00 neither are they being asked to employ 10 Ghanaians in their businesses.

"They are however expected to meet the same conditions that Ghanaian citizens who start businesses are expected to comply with. This means that they are required to register businesses with the Registrar General's Department, they are required to register with the Ghana Revenue Authority and pay taxes in the same way as Ghanaians are expected to do, and because they are not our nationals, they are expected to properly apply for residential status in Ghana", the statement added.


http://odili.net/news/source/2012/jul/13/314.html
Re: $300,000 Start-up Capital: Ghana Exempts ECOWAS Citizens by Ikengawo: 11:21pm On Jul 13, 2012
Great news, hopefully the registration agencies aren't a clever ploy to block nigerian business through paperwork bottle necks
Re: $300,000 Start-up Capital: Ghana Exempts ECOWAS Citizens by SmoothCrim: 1:18am On Jul 14, 2012
Ikengawo: Great news, hopefully the registration agencies aren't a clever ploy to block nigerian business through paperwork bottle necks
Ghanaians are so nice!!!! What a civilized bunch!!
Re: $300,000 Start-up Capital: Ghana Exempts ECOWAS Citizens by dasparrow: 3:19am On Jul 14, 2012
@Post

Ok, that's good.
Re: $300,000 Start-up Capital: Ghana Exempts ECOWAS Citizens by SmoothCrim: 4:22am On Jul 14, 2012
dasparrow: @Post

Ok, that's good.
Have your papers updated or else trouble O!!

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