Approves the Investment Promotion Center Act 2013
18 Jul 2013
The new Act has a broader coverage in terms of entities required to register compared to the repealed GIPC Act 478. That is, under the new Act 865, all entities regardless of their capital, ownership structure or sector of operation are required to register with the GIPC. Also, mining and petroleum enterprises were not covered.
Further, Act 865 extends the activities that are reserved solely for Ghanaians and increases the minimum capital requirements for entities with foreign participation. The increase in foreign capital requirement is reflected in a corresponding increase in the Automatic Expatriate Quotas available for entities with foreign participation.
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Entry and establishment (Ownership and control)
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