In Ghana, the legal environment for businesses is shaped by various regulatory components that

govern different aspects of business operations. These components include laws and regulations .

1. **Business Registration:**

- In accordance with the 2002 Fishing Act, this activity is reserved for Ghanaian nationals, but foreign
investors may own a maximum of 50 per cent of shares in tuna fishing vessels.

- The 1994 Act establishing the GIPC prohibits foreign investors from entering four sectors of the
economy: petty trading, taxi and car rental services (fleets of less than ten vehicles); lotteries; and
beauty and hairdressing salons.

- Article 266 of the Constitution states that foreigners may not own land in Ghana. They may,
however, lease land for residential, commercial, industrial or agricultural purposes on renewable
leases of up to 50 years.

2. **Licensing:**

- Licensing requirements may vary across industries. Specific laws and regulations may exist for each
sector, such as the Gaming Act for gaming licenses.

3. **Labor Regulations:**

- - Labour Act, 2003 (Act 651): This act provides regulations on employment contracts, working
conditions, termination, and other employment-related issues.

- National Pensions Act, 2008 (Act 766): This act governs the establishment, administration, and
regulation of pension schemes for employees in Ghana.

4. **Property Registration:**

- The Land Title Registration Act, 1986 (PNDC Law 152) outlines the procedures for the registration
of land titles in Ghana.

5. **Credit Regulations:**

- Credit reporting and regulations are governed by the Credit Reporting Act, 2007 (Act 726) in
Ghana.

6. **Corporate Governance:**

- Corporate governance principles are addressed in various laws, including the Companies Act, 2019
(Act 992), and the Securities Industry Act, 2016 (Act 929).
7. **Tax Administration:**

- The Ghana Revenue Authority Act, 2009 (Act 791) establishes the Ghana Revenue Authority
responsible for tax administration.

8. **Trade Facilitation:**

- Trade facilitation is influenced by various laws and agreements, including the Customs Act, 2015
(Act 891) and international trade agreements.

9. **Contract Enforcement:**

- Contract enforcement is covered under the Contracts Act, 1960 (Act 25), which outlines the
general principles governing contracts in Ghana.

10. **Alternative Dispute Resolution:**

- The Alternative Dispute Resolution Act, 2010 (Act 798) provides a framework for alternative
dispute resolution mechanisms in Ghana.

11. **Bankruptcy:**

- The Companies Act, 2019 (Act 992) includes provisions for insolvency and bankruptcy proceedings
in Ghana.

12. **Competition Policy:**

- The Competition Act, 2000 (Act 589) addresses issues related to competition, anti-competitive
practices, and consumer protection.

13. **Inspections:**

- Regulatory inspections may be conducted based on specific industry regulations and laws,
ensuring compliance with relevant standards.