Yes. Ghana has an Investment Incentive Agreement with OPIC?
Investing in Ghana
FAQs about Investing in Ghana.
Yes. Ghana has an IPPA with OPEC.
Yes. Ghana is a signatory to the MIGA Convention.
Yes. Ghana uses the instrumentality of Double Taxation Agreements to rationalize the tax obligations of investors who come from global tax sourced jurisdictions with a view to saving the affected investors from the incidence of double taxation by both their home governments and the host country. Ghana is committed to entering into DTAs with interested countries with the ultimate objective of freeing investment capital and thereby securing the investment capital from being eroded by the effects of taxation.
In furtherance of the investment promotion mandate given under section 3 of the Ghana Investment Promotion Centre Act 2013 (Act 865), the Ghana Investment Promotion Centre is mandated to encourage and promote investments in the Ghanaian economy through the negotiation of Bilateral Investment Treaties with interested countries.
To date, Ghana has concluded over twenty one (21) BITS. Some of the agreements have been ratified while others are still awaiting ratification.
Those signed and ratified include:
Ghana offers commitments at the bilateral level to protect investors and their investments.
The GIPC Act offers guarantees against expropriation. Similar to the provisions in the Constitution, expropriation is allowed only in the national interest and must be accompanied by fair and adequate compensation. The aggrieved party or the investor is given the right of access to the High Court for the determination of the fair value of the investment and the amount of compensation payable.
Article 20 of the Constitution guarantees protection from deprivation of property. Specifically, the Constitution states that there shall be no compulsory acquisition of property which by implication includes "investment", except where such compulsory acquisition is necessary for the defense, public order, morality, health and benefit of the country. More importantly, compulsory acquisition of property must be accompanied by prompt, fair and adequate compensation.
Companies are guaranteed:
- Unconditional transferability of dividends and net profits after tax to their home countries.
- Transferability of payments for loan servicing in the case of foreign loans and royalties and other fees in respect of technology transfer transactions e.g. licenses technical assistance and management contracts.
- The remittances of proceeds in the event of sale and liquidation of investment assets in the currency in which the investment was originally made to their home countries so far as they meet their tax obligations.
Ghana's 1992 Constitution, which is the basic framework for the governance of the country, offers guarantees for protection to investors and their investments. Chapter five of the Constitution embodies the relevant protection mechanisms.