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Foremost
Finance Ghana Limited is poised to do business with
interested parties from anywhere in the world in any field of
enterprise.
Since it is already in business, its primary objective will be
to facilitate co-operation and joint-venture project in a
lucrative area of business.
JOINT VENTURE OPTIONS
An example of a joint venture situation will be the
incorporation of a new limited liability company with Foremost
Finance Ghana Limited and the foreign Investor holding shares
e.g. 50/50: 75/25: etc. Other joint venture options can be
achieved through negotiations between parties.
SHARE RATIO
This will be determined by the relative contributions of the
Directors or shareholders.
Foremost Finance Ghana Limited's contribution will be both
tangible and intangible since it is a registered company already
in business. It has many pluses, connectors, goodwill, contacts,
privileges, etc. within the GHANAIAN ENVIRONMENT which will be
difficult or impossible to quantify in monetary or financial
terms. This will be Foremost Finance Ghana Limited's equity in any
joint venture, in addition to financial contribution.
INCENTIVES AND BENEFITS
Apart from specific incentives and benefits such as exemption
from import duties, sales tax or excise duties on the plant,
machine, equipment etc, etc there are provisions relating to
investment guarantees, transfer of capital, profits and
dividends. There are other provisions on guarantee against
expropriation, dispute settlement procedures, immigrant, quota,
technology transfer agreement etc.
FAIR PLAY
Good faith and fair play are very vital watchwords and Foremost
Finance Ghana Limited believes that any viable co-operation with a
foreign or Ghanaian living abroad with access to foreign
financial resources must be predicated on honesty, transparency
and full disclosure.
IMMIGRATION SERVICE SUPPORT FOR INVESTORS
The Ghana Immigration Service (GIS) supports the Government's
declared policy of the 'Golden Age of Business’. The new
Immigration Law, Act 573, 2000 makes provision for long term
Residence and Indefinite Stay for foreigners in Ghana in
recognition of their contribution to the economy of Ghana
MINIMUM CAPITAL FOR INVESTMENT
A foreign investor may form a partnership with a Ghanaian
entrepreneur or company for a joint venture, usually in the form
of a partnership or a limited liability company. However, under
the GIPC Act, 1994, a minimum equity capital of US$ 10,000 is
required from any foreign investor who intends to enter into a
joint-venture partnership with a Ghanaian.
The foreign shareholder is required to satisfy this minimum
equity capital either in cash transferred through Ghana's
banking system or its equivalent in goods, plant and machinery,
vehicles or other tangible assets imported exclusively to
establish the enterprise.
The imported items must be covered by a pre-shipment certificate
issued by Société Générale de Surveillance (SGS), Inchcape
Testing Services International Ltd., Cotecna Inspection, SA, or
similar organization approved by the Ministry of Trade and
Industry, stating the value and condition of the goods.
Consideration for goodwill of a business or services rendered by
partners cannot be used to satisfy the minimum foreign equity
capital.
PROTECTING INVESTORS (2006)
The indicators below describe three dimensions of investor
protection: transparency of transactions (Extent of Disclosure
Index), liability for self-dealing (Extent of Director Liability
Index), shareholders’ ability to sue officers and directors for
misconduct (Ease of Shareholder Suits
Index) and Strength of Investor Protection Index. The indexes
vary between 0 and 10, with higher values indicating greater
disclosure, greater liability of directors, greater powers of
shareholders to challenge the transaction, and better investor
protection.
Indicator Ghana Region OECD
Disclosure Index 7 4.4 6.3
Director Liability Index 5 4.5 5.0
Shareholder Suits Index 6 5.2 6.6
Investor Protection Index 6.0 4.7 6.0
Details | Compare All Economies
BENEFITS OF THE INVESTMENT
All investors in the country have an assurance of their
investments being protected by the laws of Ghana and are free to
repatriate (send back) their earnings anytime. You will be
entitled to some exemptions on importation of equipments and
capital goods into the country and also, you will be entitled to
residential and work permit if needed.
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