The ghana free zones authority gfza was established on 31st august, 1995 by an act of parliament the free zone act 1995 act 504, is to enable the establishment of free zones in ghana for the promotion of economic development. The ghana free zone authority was established on august 31, 1995 by an act of parliamentthe free zones act, 1995 act 504, to enable the establishment of free zones in. In ghana, companies registered under the ghana free zones authority gfza are taxed at a rate of 1% for the first ten 10 years of their operation, and thereafter at a rate of 15% on income. The ghana free zones board gfzb was established on 31 st august, 1995 by an act of parliament.
Firmus advisory is the number one business consultancy in ghana. Eop 20190905 ghana free zones authority is making sure there is strict compliance to state regulations ceo. Gfzb ghana free zone board gipc ghana investment promotion centre. Provides for the establishment and regulation of import and export free zones. The brief detail of each party is as the following. Quansah, who have assisted many students to gained admissions into colleges and universities with very high percentages of scholarships and financial aid. The ghana free zones authority gfza was established by an act of parliament, the free zones act 1995 act 504 in 1995. Customs and border protection, grantee, and operator 24. In exercise of the powers conferred on the minister responsible for trade and industry by sections 262 and 41 of the free zone act 1995 act 504, and after consultation with the minister responsible for customs and exercise and the commissioner of customs, excise and preventive service in accordance with section 262 of act 504, these regulations. Ghana free zones authority is making sure there is strict. Ghana, a commonwealth member country, has over the years made positive.
The ghana free zones board, which is the government agency responsible for the implementation of the programme, is achieving positive results. Holland egypt info phone cairo free zone area nasr city cairo cellucom fzco united arab emirates info web phone dubai d14 airport free zone dubai dubai 36153 uae dsr qeshm co. This chapter chronicles the evolution of industry in ghana over the postindependence era from an inward overprotected isi strategy of 196083 to an outward liberalized strategy during 19842000, and since 2001, to the private sectorled accelerated industrial development strategy based on valueaddition. Constitution of the republic of ghana amendment act, 1996. Executive committee of the special economic zone us foreigntrade zones board was established under the foreign trade zone act between the ministry of commerce. Act 504 free zone act, 19951 an act to enable the establishment of free zones for the promotion of economic development, to provide for the regulation of activities in free zones and for re lated matters. The authority was planned to improve the processing and.
There is establishment by this act a board to be known as the free zones board, referred to in this act as the board. This report provides information on the status and development of nuclear power programmes in ghana, including factors related to the effective planning, decision making and implementation of the nuclear power programme that together lead to safe and economical operations of nuclear power plants. A nonghanaian may undertake this service provided he has a minimum fleet of ten new vehicles. The ghana free zones programme is designed to promote processing of goods and services for. To create a free zone, the president of ghana must declare that an area of land or building is a free zone or single factory zone. The sale of anything whatsoever in a market, petty trading, hawking or selling from a kiosk at any place.
Laws and regulations gabc ghana agribusiness centre. The ministry of trade and industry oversees the work of the board. Ghana has a new companies act the companies act 2019. An act to enable the establishment of free zones in ghana for the promotion of economic development. We are your eyes on the ground, providing valuable local business intelligence and handholding services for your business. The companies act, 2019 act 992 has been in the works since 2018 and replaces the companies act, 1963 act 179. Industry in ghana is mainly dominated by micro and small firms. Michael kofi baafi as he educates and informs ghanaians about the role of freezones in achieving the industrialisation agenda of npp. Firmus advisory market research regulatory compliance. The view on the left taken on 12 september 2007 shows river systems throughout the length and breadth of the small country swollen compared to conditions in june right before the rainy season started. Free zone amendment act 2002 free zones act 1995 free zone act no. Its important and expected role requires the board to. Our act tuition is given by two of the worlds best act tutors, richard c. The act received presidential assent in august 1995.
Ghana free zones authority looking beyond the horizon. The ghana free zone board gfzb was established by the free zone act, 1995 act 504 as amended by the free zone amendment act, 2002 act 618 to enable the establishment of free zones in ghana for the promotion of economic development. 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. Ghana investment act schedule section 18 enterprises wholly reserved for ghanaians 1.
The ghana free zones board was established by an act of parliament, act 504, to develop ghana into a hub for the manufacture and processing of commodities for export. Agricultural businesses operating in ghana may also need to be familiar with the following legislations and their amendments. The bank of ghana shall have overall supervisory and regulatory authority in all matters relating to banking and nonbanking financial business with the purpose to achieve a sound, efficient banking system in the interest of depositors and other customers of these institutions and the economy as a whole. Report on the implementation of the investment policy. Gfzb ghana free zones board ghia ghana ports and harbours authority gipc ghana investment promotion centre gis ghana immigration service gsp general system of preferences hipc highly indebted poor countries icsid international convention on the settlement of investment disputes between states and nationals of other states.
Ghana and also to provide for the regulation of activities in the free zones and its related purposes. The ghana free zones board represents the principal catalyst for the exportoriented industrial development in ghana. The companies act, 1963 act 179 ghana free zones act, 1995 act 505 the internal revenue act, 2000 act 592. Banks and special deposit act, 2016 date of assent.
Ghana free zones authority licenses 16 new companies. Ghana free zones authority enclave animation duration. Ghana free zones board august 23, 2017 tune in to happy fm 98. Ghana geography, climate and population ghana is situated on the west coast of africa with a total area of 238 540 km2. Legislation online parliament of ghana pdf consulted on 20211 abstractcitation.
The ghana free zones authority was established on 31st august 1995 by an act of parliament to enable the establishment of free zones in ghana for the promotion of economic development, to provide for the regulation of activities in free zones and for related purposes. Two satellite images encompassing most of ghana reveal extensive flooding. The most flooded rivers are the white volta and its. 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. Implementation of the program began in september 1996 with the establishment of the ghana free zones board secretariat 27. Timeline trust is ghana and africas best act services provider and provides act services all year round. The country has a northsouth extent of about 670 km and a maximum eastwest extent of about 560 km. Ghana free zones board accra, ghana contact phone, address. On 2 august 2019, the president of the republic of ghana nana addo dankwaakufoaddo announced that the long awaited ghana companies act, 2019 had been assented into substantive law. Banks and special deposit act, 2016 act 930 date of assent. Firmus advisory delivers on all regulatory compliances, business registration, immigration support and statutory licenses. A comparative analysis of effective free trade zone.
It was enacted by an act of parliament, the free zone act 1995 act 504. The financial sector is overseen by the bank of ghana, whilst the ghana free zones board enables the establishment of free zones in the country for the promotion of economic development. This act enable the establishment of free zones in ghana for the promotion of economic development. Ghana free zones authority plans for special economic zones. The ghana free zones authority gfza, is a ghanaian governmentcontrolled institution formed on 31 august 1995 to facilitate the setting up of free zones in ghana to improve the economic development and to regulate its related activities. Standards and regulation in ghana commonwealth of nations. Ghana free zones board recognised for excellence graphic.
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