Top Tips for a Startup Construction Business

Despite all the investments that followed after industrialization, infrastructure, and a series of independence restructurings, Ghana is still far behind in organizational set-up and procedures. The country’s inability to meet these requirements is largely due to the character and nature of its integration into the international system where it has been assigned the job of exporting primary products and consuming imported manufactured goods through excessive liberalization of your economy.

That being said, anyone who wants to open a business, more specifically a construction company in Ghana, has to go through a lot of hurdles in order to get it up and running. Let us take a look at the method through which you can set up a construction company in Ghana.

Acquire a tax identification number

As of 2012, all entrepreneurs must have a NIT to start a business. It takes 2 days maximum to obtain a TIN. If you are going to start a construction company in Ghana, you need to acquire a tax ID for your business.

Check the availability of the company name

Well, this one is definitely a no-brainer. You need to check the list of registered construction companies in Ghana and make sure that your construction business is not using the same name as any of the companies registered above.

Submit the company documents to get the certificate of incorporation

After making sure of the uniqueness of the name, the entrepreneur must go to the customer service office to submit company documents for registration. The applicant can then obtain the prescribed Form A from the bank and return it to the bank after completion. After careful scrutiny, the registrar issues the registration certificate along with the original form to be submitted as an attachment.

Incorporation documents are made up of the following forms which can be downloaded from http://www.rgd.gov.gh.

Get your certificate authenticated

You must notarize your obtained certificate in front of a Commissioner of Oaths.

Get the certificate to start the business

After the company is incorporated, all pending documentation must be submitted within 28 days. The business registrar now automatically registers new businesses with the IRS.

Deposit paid-in capital into an account

After all that, the following documents are required with the capital paid in a bank account:

– Copy of the company regulations.

– Certificate of incorporation

– Certificate to start business

– Signatures of Authorized Personnel of the Company.

Apply for Business Licenses

Each type of business license costs differently. Additionally, the attached documents vary depending on the category your business falls under. If you are a construction company in Ghana, you need to apply for a business building licence.

Have your workplace inspected

Being an affordable construction company, their official premises must be up to scratch in terms of safety. Have an office visit your facility and report the findings to the RAMA (Metropolitan Assembly Accountant Reviewer), who then presents the report to the Assembly Revenue Mobilization Subcommittee.

Apply for Social Security

In order to access social security, every company must present the following:

– List of employees

– Their Respective Salaries

– Social Security Numbers

– Certificate to start the business

– Certificate of incorporation