The act was assented to by the president on 29 december 2017 and the gazette notification was issued the same day. Accordingly, the act came into force on 29 december 2017. Ghana free zones to subsidize electricity cost for members. This act consolidates all laws relating to labour, employers, trade unions and industrial relations. They include gold coast refinery, juaben oil mills, regency salt limited, ramec limited, nurevas food ghana limited and karma distillery limited.
Exploring opportunities offered by the ghana free zones board 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. The laws dealing with civil nuclear liability are provisions in the ghana nuclear bill, 2009, which was submitted to the cabinet for consideration. It was enacted by an act of parliament, the free zone act 1995 act 504. Ghana free zones board recognised for excellence graphic. Amendment to the free zones act, 1995 act 504 the parliament of the republic of ghana has passed an amendment to.
Ghana free zones board is being destroyed by corruption the campaign by media watch research associates. Free zones board, referred to in this act as the board. Further, to provide for the regulation of activities in free zones and for related purposes. The currently foreseen date of creation of wamz is 2015. Aug 29, 2017 this comes as a response to repeated complaints from some companies operating in the free zones enclave that the existing cost of power supply 20 cents per kilowatts makes their operations unsustainable. Section i on 15th september, 2015 all other provisions. How to obtain free zones licence in ghana legalstone. Labour employment the labour act 651 of 2003 regulates employment and labour issues in ghana. The ghana free zones board represents the principal catalyst for the exportoriented industrial development in ghana. Bugri current dynamics of agricultural investments in ghana. Banks and special deposit act, 2016 date of assent. There is established by this act a board which is the ghana free zones. A lack of resources has limited the effectiveness of the authority. An act to enable the establishment of free zones in ghana for the promotion of.
Ghana free zones board august 23, 2017 tune in to happy fm 98. 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. Ghana free zones authority enclave animation duration. A comparative analysis of effective free trade zone policies. Production at jubilee, ghanas first commercial offshore oilfield, began in middecember 2010. The third edition which took place over the weekend is an annual event, which is meant to celebrate ghanaian women who are excelling in various fields of endeavour and contributing. The sale of anything whatsoever in a market, petty trading, hawking or selling from a kiosk at any place.
Ghana library board act ghanalegal legal portal for ghana. Audit report global fund grants in the republic of ghana. 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 are made this 22nd day of february, 1996. It will enable importers to fill out documentation online to expedite the cargo clearance process. Laws applicable to the operation of business in ghana conform to. Banks and special deposit act, 2016 act 930 date of assent. Gfzb stands for ghana free zones board established under the free zone act, 1995. 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. Gfzb ghana free zones board established under the free. Ghana free zones authority is making sure there is strict. The free zone act 1995, act 504, was passed on 31st august, 1995 for the promotion of economic development, to provide for the regulation of activities in free zones and for related purposes. Ghana investment act schedule section 18 enterprises wholly reserved for ghanaians 1.
Provides for the establishment and regulation of import and export free zones. Ghanas special economic zone sez regime remains in inception stages despite the relative success in filling the tema free zone, two hours outside of accra. The ghana free zones authority gfza was set up to enable the creation of free zones in ghana and to regulate free zones activities within the country. The chief executive officer of ghana free zones authoritygfza michael okyere baafi is participating in the oman economic, industrial and free zone summit 2019 in muscat. Factories, offices and shops act 1970 act 328 section 1register of factories the chief inspector shall keep a register of factories in which he shall cause to be entered such particulars in relation to every factory required to be registered under this act as he may consider necessary or desirable. The free zones board fzb is the statutory body created to manage and implement the free zones programme. Speaking to the media executive secretary of the ghana free zones board, michael okyere baafi, said. Gfzb is defined as ghana free zones board established under the free zone act, 1995 somewhat frequently. 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. Ghana, a commonwealth member country, has over the years made positive.
Here is how to obtain freezone license for your business. The labour act regulates the payment of wages and requires that wages be paid in legal tender to all classes of workers. Ghana amends customs act regarding bonded warehousing. 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. Company is working in associations business activities. There is established by this act a board to be known as the free zones.
Meet the aggressive marketer, ceo of the ghana free. 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. Implementation of the program began in september 1996 with the establishment of the ghana free zones board secretariat 27. To make it easier for free zone developers to acquire the various licenses and permits to operate, the ghana free zones authority gh provides a onestop approval service to assist in the completion of all formalities. 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. Michael kofi baafi as he educates and informs ghanaians about the role of free zones in achieving the industrialisation agenda of npp. Free zone companies in ghana including accra, and more. Free trade zones are generally organized around major seaports, international airports, and.
At the national level, the tuc represents organized labour and civil society in key national bodies, institution, commissions, boards and committees such as ssnit board, ntc, media commission, nacl, national population council, divestiture implementation committee, ghana free zones board, nvti, public utilities regulatory commission, national. Free zone companies in ghana add your free listing. Responsibility of customs excise and preventive service i the customs excise and preventive service shall be responsible for the control of zerorated goods a within a free zone. Expansion of ghanas nascent oil industry has boosted economic growth, but the fall in oil prices since 2015 reduced by half ghanas oil revenue. 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 act received presidential assent in august 1995. The free zones programme in ghana offers you a conducive business environment to produce at minimum cost for export. The companies act, 1963 act 179 income tax act, 2015 act 896 fisheries act, 2002 act 625. All the emerging countries are included in that list. 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 establishment by this act a board to be known as the free zones board, referred to in this act as the board. 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. How is ghana free zones board established under the free zone act, 1995 abbreviated.
An act to enable the establishment of free zones in ghana for the promotion of economic development. Its important and expected role requires the board to be the channel through which the exportled development policy is achieved. Legislation online parliament of ghana pdf consulted on 20211 abstractcitation. This act enable the establishment of free zones in ghana for the promotion of economic development. Petroleum revenue management act, 2011 act 815 petroleum revenue management amendment act 2015, act 893 petroleum local content and local participation regulations, 20 l. Free zones authority sets up oil and gas department. The ghana free zones authority gfza is the sez authority in the country, in accordance with the free zone act of 1995. The ministry of trade and industry oversees the work of the board. There is established by this act a board which is the ghana free zones board. A free trade zone ftz is a class of special economic zone. The ghana free zones authority gfza was established by an act of parliament, the free zones act 1995 act 504 in 1995.
Ghana the world factbook central intelligence agency. Amends section 34 by adding a new subsection 4 concerning tax obligations foreign employees towards the ghana government. We will make you billionaires free zones board baits. Free zone amendment act 2002 free zones act 1995 free zone act no. The legislation governing the gfza creates an attractive environment through the provision of very attractive incentives to free zone companies. The parliament of ghana has passed the customs amendment no.
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. Act 663, company, ghana, goods, public procurement act 2003. Ghana free zones authority plans for special economic zones. 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. The ghana free zones programme is designed to promote processing and manufacturing of goods through the establishment of export. It is a geographic area where goods may be landed, stored, handled, manufactured, or reconfigured and reexported under specific customs regulation and generally not subject to customs duty. Free zones authority to revoke license of inactive companies. Ghana free zones board is being destroyed by corruption. 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.
The ghana free zones board gfzb was established on 31 st august, 1995 by an act of parliament. 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 ghana. Executive chairperson of reroy group, a leading cable manufacturing company, kate quartey papafio has been awarded in this years ghana women excellence in business awards. Gold, oil, and cocoa exports, and individual remittances, are major sources of foreign exchange. The ghana free zones board, which is the government agency responsible for the implementation of the programme, is achieving positive results. Provision of this act prevail if contradictory to any other laws or regulations relating to public procurement. Gipc act under the ghana investment promotion centre act, 20 act 865, any enterprise in which there is foreign participation is required to register with the ghana investment promotion centre gipc. Enterprises to ensure compliance to the free zone act and any other laws relevant to free zone. 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. The ghana free zones board gfzb yesterday opened its maiden edition of investment week celebration to create the platform for local businesses to take advantage of its exportoriented programmes. Ghana free zones authority licenses 16 new companies. 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.
See section 1 3 and 4 arrangement of sections section part ipreliminary i short title and commencement. The move is in conformity with the ghana shippers authority regulations, li 2190 of 2012. Ghana and also to provide for the regulation of activities in the free zones and its related purposes. A nonghanaian may undertake this service provided he has a minimum fleet of ten new vehicles.
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