Incentives

To attract investors into the Free Zones Scheme and to create a viable and sustainable business environment, the GFZA offers extensive and generous incentives to potential investors interested in developing and operating free zone enclaves and single-factory free zones in Ghana.

The monetary incentives offered 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 which will 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 where Ghana has a double taxation agreement with the country of the investors or employees.

Other non-monetary incentives are:

• 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 also guaranteed against nationalization and expropriation.