Laws applicable to the operation of business in Ghana conform to international standards and best practice. These laws are based on a framework of legislation relating to business activity, copyrights, patents, trademarks, disputes and labour relations.
Ghana subscribes to a number of International Conventions on Industrial and Intellectual property such as the World Intellectual Property Organization (WIPO). 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.
Sanctity of contracts ensures respect for commercial rights and obligations. Damages are compensatory, not punitive, and an Independent Court system ensures equitable protection of rights. Mediation, arbitration and other alternative forms of dispute resolution are readily available and routinely used.
Key Investment related legislation in Ghana includes the following:
Legislation that apply to Business Operations in Ghana includes;
The Ghana Investment Promotion Centre Act, 2013 (Act 865), provides guarantees including prohibition against discrimination and expropriation to all enterprises. Subject to the Foreign Exchange Act, 2006 (Act 723) and the Regulations and Notices issued under the Foreign Exchange Act, an enterprise is guaranteed unconditional transferability through any authorized dealer bank in freely convertible currency of the following:
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. Additionally, the Government of Ghana has entered into Bilateral Investment Promotion and Protection Agreements (IPPAs), as well as Double Taxation Agreements with a number of countries to further enhance the protection and security of the investment regime.