GIPA Act 2026: What Changed for Foreign Investors in Ghana

In short

The Ghana Investment Promotion Authority Act, 2026 (Act 1173), assented to on 15 July 2026, repeals the GIPC Act, 2013 (Act 865); the GIPC is now the Ghana Investment Promotion Authority (GIPA).
General minimum capital requirements for non-trading foreign-owned companies and joint ventures are gone; foreign trading enterprises need USD 500,000 in cash equity (down from USD 1 million) and at least 75% Ghanaian skilled staff.
Registration is due within five days of a complete application but must now be renewed every year.
Six activities remain reserved for Ghanaians, expatriate quotas now run from 2 to 12, and unregistered technology transfer agreements are unenforceable.

The new law in brief

The Ghana Investment Promotion Authority Act, 2026 (Act 1173) was assented to on 15 July 2026 and repeals the Ghana Investment Promotion Centre Act, 2013 (Act 865). The Ghana Investment Promotion Centre has become the Ghana Investment Promotion Authority (GIPA). Commentators report that the Act took effect on that date.

Existing investors are protected by the transitional provisions. An enterprise or joint venture registered under Act 865 continues as if registered under the new Act, and its benefits and incentives are preserved (section 60). The new annual renewal cycle does, however, apply to everyone.

Minimum capital: the headline change

Act 865 required foreign investors to bring in minimum equity before registering. Act 1173 removes the general requirement for most of them:

Enterprise type	Act 865 (2013)	Act 1173 (2026)
Joint venture with a Ghanaian partner	USD 200,000	No general minimum
Wholly foreign-owned (non-trading)	USD 500,000	No general minimum
Trading enterprise with foreign participation	USD 1,000,000	USD 500,000 in cash equity

For trading companies the equity must now be in cash; reports indicate that capital in the form of imported goods no longer counts. The workforce rule has also changed. Instead of employing a minimum of 20 skilled Ghanaians, a foreign trading enterprise must ensure that at least 75% of its skilled employees are Ghanaian.

Sector laws still apply. Banking, insurance, mining, telecommunications and other regulated industries keep their own capital and licensing rules.

The anti-nominee rule

The trading requirements now follow the beneficial owner rather than the share register. A trading enterprise owned on paper by Ghanaians, but with a non-Ghanaian beneficial owner or director, must meet the same minimum capital requirement as a foreign trading enterprise.

Registration and annual renewal

An enterprise with foreign participation must register with GIPA after incorporation and before it starts operating. The Authority is required to complete registration within five days of receiving a complete application (section 34). Registration must then be renewed every year, instead of every two years as before. Legal commentators report administrative penalties of up to 7,000 penalty units for failure to renew (section 56), so put the renewal date in your compliance calendar. Establishing a branch also requires the Authority's written approval.

Reserved activities: now six

Section 32 reserves six categories of activity for Ghanaian citizens and wholly Ghanaian-owned enterprises:

market trading, petty trading, hawking and selling goods from a stall;
operating a beauty salon or barbering shop;
operating taxi or car hire services with a fleet of fewer than 25 vehicles;
producing exercise books and other basic stationery;
retailing finished pharmaceutical products;
producing, supplying or retailing sachet water.

Lotteries and betting, and the printing of recharge scratch cards, are no longer on the list. Enforcement is tightening. In August 2026 GIPA and the Ghana Union of Traders' Associations agreed measures to protect the informal retail sector, and Graphic Online reported administrative penalties of 5,000 to 10,000 penalty units, plus 500 to 1,000 penalty units for each month a breach continues. "Fronting", where a Ghanaian lends their name to hide foreign ownership, is a specific target.

Expatriate quotas: more positions

Automatic quotas under Act 865 ranged from one to four. Act 1173 scales them to invested capital (section 49):

Invested capital	Automatic expatriate positions
USD 50,000 to USD 500,000	2
USD 500,000 to USD 1 million	4
USD 1 million to USD 5 million	6
USD 5 million to USD 10 million	8
Above USD 10 million	12

Each quota is valid for five years and renewable. Work and residence permits are still processed by the Ghana Immigration Service.

Technology transfer agreements must be registered

Licences, know-how, technical service and management agreements with foreign parties must be registered with GIPA. Under section 52, an unregistered agreement is not legally enforceable, its fees are not deductible for income tax, and banks cannot remit those fees without the registration certificate. If your Ghanaian company pays royalties or management fees abroad, check the registration status now.

At the time of writing, GIPA's technology transfer page still refers to Act 865 and the Technology Transfer Regulations, 1992 (L.I. 1547). Confirm the current procedure with the Authority.

Other changes worth knowing

A statutory investor grievance mechanism.
A National Investment Registry and a one-stop shop.
Industry-specific incentives by legislative instrument (section 37) and Cabinet-approved strategic investment incentives (section 38).
Criminal penalties for false declarations.

What to do now

Existing investors: diarise the annual renewal, confirm technology transfer agreements are registered and review whether you qualify for more expatriate positions.
New investors: check the reserved list and whether your activity counts as trading, then budget for incorporation, GIPA registration and sector licences.
Trading businesses: review ownership and control structures against the beneficial ownership test.

How Gotham Consult can help

Gotham Consult reviews existing registrations against Act 1173, handles GIPA registration and renewal, and registers technology transfer agreements. For a structured view of how the new law affects your plans, a Ghana briefing costs GHS 2,900 and is credited against follow-on work.

Questions

Do I still need USD 200,000 to form a joint venture?

No. Act 1173 removes the general minimum capital for non-trading joint ventures and wholly foreign-owned companies. Sector regulators may still impose their own capital rules.

My company was registered under Act 865. Do I need to re-register?

No. Enterprises registered under Act 865 continue as if registered under the new Act, and their benefits are preserved. Annual renewal now applies, so confirm your renewal date with the Authority.

Can a trading company contribute its capital in goods?

Reports on the new Act indicate that the USD 500,000 for trading enterprises must be cash equity, and that imported goods no longer count.

Which activities are reserved for Ghanaians?

Six categories: market and petty trading, beauty salons and barbering, taxi and car hire with fewer than 25 vehicles, exercise books and basic stationery, retail of finished pharmaceuticals, and sachet water.

What happens if a technology transfer agreement is not registered?

It is not legally enforceable, the fees are not tax-deductible, and banks cannot remit the fees without the GIPA registration certificate.

Sources

Last reviewed: 29 September 2026. This is general information, not legal or tax advice.