Free zone amendment act 2002 free zones act 1995 free zone act no. Our application and registration forms are available for download in pdf format. Ogfza was established by section 2 of the oil and gas export free zone act no. In ghana there is one act test center in accra and one act test center in kumasi. Ghana free zones board august 23, 2017 tune in to happy fm 98. In exercise of the powers conferred on the minister responsible for trade and. Free zone companies in ghana add your free listing. The ghana free zones board represents the principal catalyst for the exportoriented industrial development in ghana. The main idea of establishing the free zones is to develop ghana into a hub for manufacturing and processing through value addition for export.
It also deals with the procedures to be used by exporters of services, the recipients of imported services and with goods entering and leaving the free zone. Bank of ghana amendment act, 2016 act 918 banks and specialised deposittaking institutions act, 2016 act 930. Its important and expected role requires the board to. Ghana standards board food, drugs and other goods general labelling rules 1992 2 the importer of any goods detained under subrule i of this rule shall within twentyeight days of detention of such goods label the goods in the required manner or reexport the goods.
Jul 31, 2015 the ghana free zones board, gfzb, has as part of its corporate social responsibilitycsr presented an amount of ten thousand ghana cedis, ghc. The ghana investment promotion centre act, 20 act 865, provides guarantees including prohibition against discrimination and expropriation to all enterprises. For foreignpracticing pharmacists who wish to work as pharmacists in ghana for a. A free trade zone is normally established in a single country, although there are a few exceptions where a free zone may cross a national border, such as the syrianjordanian free trade zone. Justice daniel francis kweipe annan was the first speaker of the parliament of the 4th republic of ghana. The act reading test measures a test takers ability to understand, analyze and evaluate written passages. Education act, 2008 act 778 or in lieu of the payment of the fine, to community service as determined by the court in consultation with the social welfare committee. Ghana library board act ghanalegal legal portal for ghana. Commission of human rights act, 1993 act 456 ghana. The oil and gas free zones authority ogfza is the national regulatory agency superintending over the operation of the oil and gas free trade zones in the country. Also, the income tax act, 2015 act 896 imposes a 5% withholding tax on insurance premiums paid by residents of ghana to foreign insurance companies.
Customs and exercise and the commissioner of customs, excise and. The free zones authority is established by act 504 as amended by act 618. All the emerging countries are included in that list. Ghana free zones board is being destroyed by corruption. The free zones programme in ghana offers you a conducive business environment to produce at minimum cost for export. The passages will contain material that will be from a variety of sources and on a number of different topics. Free trade zones should be distinguished from free trade areas. 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.
Tema, far exceeding the targets set by the ghana port and harbour authority gpha. Gfzb is responsible for planning, regulation, and promotion of the free zones, as well as for packaging of sites for development through. 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. Typically, these zones offer advantages to investors in terms of infrastructure, special customs regimes such as duty free import and export, special regulatory regimes, and a range of fiscal incentives.
Free zone act has been amended and adopted by parliament. Export processing zones epzs also known as free zones fzs are areas in which businesses are exempt from the normal regime applicable in nigeria, particularly with regard to customs duty and tax. Ghana free zones board is being destroyed by corruption the campaign by media watch research associates. Aug 14, 2019 under the ghanas new companies act, a person may not be appointed as a company secretary unless that person. Click on any tab to display forms related to the title, and click any of the buttons to opendownload that form. The forum aimed at bringing together maltese companies and their ghanaian counterparts to identify trade and business opportunities for the mutual benefits of both countries was very. There is established by this act a board to be known as the free zones board.
Except free zone enterprises, companies enjoying tax holidays to pay tax at 1% individuals to suffer withholding tax of 1% on interest earned. In return, the government expects companies operating in the epzs to boost national exports, create jobs and help in diversifying the nigerian economy by bringing in new activities. Also featured are a practice writing test, a sample answer document, answer keys, and selfscoring instructions. 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. The act originally abbreviation of american college testing is a standardized test for high school achievement and college admissions in the united states produced by act, inc. 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 free zones act 1995, act 504, was passed on 31st.
Free zones business entities eligible to operate as free zone developers or free zone enterprises are companies registered under the companies code, 1963 act 179 or a partnership registered under the incorporated private partnership act, 1962 act 15. Project finance 2019 laws and regulations ghana iclg. Free zone enclaves and enterprises can be located anywhere in ghana upon the approval of the ghana free zones authority gfza. 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. The work permit application for holders of free zone licenses must be directed to the gis through gfzb. Ghana free zones board gfzb the gfzb is the regulator for all businesses that meet a 70% minimum export capacity of all production in ghana. Gfzb ghana free zones board established under the free. 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 31st august, 1995 by an act of parliament1995 act 504, to enable the establishment of free zones for the promotion of economic development.
The ghana free zones board gfzb on monday opened its maiden edition of investment week celebration to create the platform for local businesses to. Ghana is located in west africa,on the greenwich meridian, and is fast becoming the. Pdf the guidelines of corporate governance of ghana. Gfzb is defined as ghana free zones board established under the free zone act, 1995 somewhat frequently. Amendment to the free zones act, 1995 act 504 the parliament of the republic of ghana has passed an amendment to.
These laws are based on a framework of legislation relating to business activity, s, patents, trademarks, disputes and labour relations. The companies act, 2019 act 992 has been in the works since 2018 and replaces the companies act, 1963 act 179. Gfzb is responsible for planning, regulation, and promotion of the free zones, as well as. The ghana free zones authority gfza may identify or make available land for zone creation and development. Act admissions ticket and a valid passport are required for entry into test center. Ghanas new companies act 2019 passed, this is what to expect.
Free zone enterprises shall comply with the factories, offices and shops act 1970 act 238 on health and safety requirements. Free zones living the west african gateway dream herald. It was first administered in november 1959 by everett franklin lindquist as a competitor to the college board s scholastic aptitude test. The ghana free zones board takes its mandate from the free zones act 1995, act 504 of the parliament of ghana. Establishment of the nigeria export processing zones authority and its governing board, etc. This year saw the promulgation of the ghana industrial free zones authority decree. The free zones is the primary agent for industrial development in ghana. 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.
An investor may lease properties or propose properties heshe already owns for the development and or operation of a free zone. New free zones act expected to be ready by third quarter. Nigerian free zones offers a multitude of incentives for. Limits to free zones in the face of global competition92. Department of banking and finance, school of business and law, university. Board means the uganda free zones authority board established by section 7. Subject to the foreign exchange act, 2006 act 723 and the regulations and notices issued under the foreign exchange act. Free zones board, referred to in this act as the board. Mining laws and regulations ghana covers common issues in mining laws and regulations including the mechanics of acquisition of rights, foreign ownership and indigenous ownership requirements and restrictions, processing, beneficiation in 28 jurisdictions. Michael kofi baafi as he educates and informs ghanaians about the role of free zones in achieving the industrialisation agenda of npp. Each of the passages and statements in the reading test will be. A person in ghana, however, may apply to obtain insurance from a foreign company for specific instances such as where the required insurance policy cannot be obtained in ghana. Ceps is iso 9000 certified and gis is best practice in africa for. Gfzb stands for ghana free zones board established under the free zone act, 1995.
Its important and expected role requires the board to be the channel through which the exportled development policy is achieved. There is establishment by this act a board to be known as the free zones board, referred to in this act as the board. At a very high level, the new act seeks to introduce improved corporate governance standards for companies operating in ghana. An act to enable the establishment of free zones in ghana for the. The ghana free zones board is to provide a onestop service center for free zone investors.
The free zone program in ghana, under the authority of the autonomous ghana free zones board gfzb is a good example of a program which makes a clear separation of these roles. Dec 29, 2014 the ghana free zones board takes its mandate from the free zones act 1995, act 504 of the parliament of ghana. Work and resident permits shall be required for any foreign national who wishes to live in ghana and work in a free zone. Section 3application of act 1 except where otherwise provided, the provisions of this code shall apply to all companies formed in ghana, whether before or after the commencement of this code, under the provisions of the companies ordinance, cap. The ghana free zones board, which is the government agency responsible for the implementation of the programme, is achieving positive results. Ghana has a new companies act the companies act 2019 act. In addition, the recommendation to convert the free trade zones into multi facility economic zones has almost been fully implemented in the tema free trade zone and similar plans are underway for other zones. In these zones, rules of business are different, and often more liberal, from those that prevail in the national territory. Free zone companies in ghana including accra, and more. Introduction timely provision of accurate and comprehensive information and life skills training regarding sexual and reproductive health and rights is essential for adolescents to achieve sexual health and rights and avoid negative health outcomes. The ghana free zones board gfzb was established on 31 st august, 1995 by an act of parliament. The ghana free zone board gfzb was established by the free.
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