Incentives

There are extensive and generous incentive packages in the Free Zone Act (1995) for investors interested in developing and operating free zone enclaves and single-factory free zones in Ghana include:

  • 100% exemption from payment of direct and indirect duties and levies on all imports for production and exports from free zones.
  • 100% exemption from payment of income tax on profits for 10 years and shall not exceed 15 per cent thereafter.
  • Total exemption from payment of withholding taxes from dividends arising out of free zone investments;
  • Relief from double taxation for foreign investors and employees;
  • No import licensing requirements;
  • Minimal customs formalities;
  • 100% ownership of shares by any investor – foreign or national in a free zone enterprise is allowed;
  • There are no conditions or restrictions on: repatriation of dividends or net profit; payments for foreign loan servicing; payments of fees and charges for technology transfer agreements; and remittance of proceeds from sale of any interest in a free zone investment;
  • Free Zone investors are permitted to operate foreign currency accounts with banks in Ghana;
  • At least 70% of annual production of goods and services of Free Zone Enterprises must be exported; consequently up to 30% of annual production of goods and services of a free zone enterprise are authorized for sale in the local market Free Zone investments are guaranteed against nationalization and expropriation.

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