Investment, Enterprise and why Ghana does not recognize dual citizenship

Investment, Enterprise and why Ghana does not recognize dual citizenship

 

Ghana Investment Promotion Centre, (GIPC) Act 865

27. ACTIVITIES RESERVED FOR GHANAIANS AND GHANAIAN OWNED ENTERPRISES

(1) A person who is not a citizen or an enterprise which is not wholly owned by citizen shall not
invest or participate in—
a. the sale of goods or provision of services in a market, petty trading or hawking or selling
of goods in a stall at any place;

b. the operation of taxi or car hire service in an enterprise that has a fleet of less than
twenty-five vehicles;

c. the operation of a beauty salon or a barber shop;

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d. the printing of recharge scratch cards for the use of subscribers of telecommunication
services;

e. the production of exercise books and other basic stationery;

f. the retail of finished pharmaceutical products;

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g. the production, supply and retail of sachet water; and

h. all aspects of pool betting business and lotteries, except football pool


28. ENTERPRISES ELIGIBLE FOR FOREIGN PARTICIPATION AND MINIMUM FOREIGN CAPITAL REQUIREMENT

(1) A person who is not a citizen may participate in an enterprise other than an enterprise specified in section 27 if that person

a. in the case of a joint enterprise with a partner who is a citizen, invests a foreign capital of not less than two hundred thousand United States dollars in cash or capital goods relevant to the investment or a combination of both by way of equity participation and the partner who is a citizen does not have less than ten percent equity participation in the joint enterprise; or

 

b. where the enterprise is wholly owned by that person, invests a foreign capital of not less than five hundred thousand United States dollars in cash or capital goods relevant to the investment or a combination of both by way of equity capital in the enterprise.


(2) A person who is not a citizen may engage in a trading enterprise if that person invests in the enterprise, not less than one million United States dollars in cash or goods and services relevant to the investments.

 

(3) For the purpose of this section, “trading” includes the purchasing and selling of imported goods and services.

(4) An enterprise referred to in subsection (2) shall employ at least twenty skilled Ghanaians.

(5) The minimum foreign capital requirement of this section shall not apply to the foreign spouse of a citizen of Ghana to the extent that

a. the foreign spouse is or has been married to a citizen of Ghana for a minimum period of
five years continuously or holds an indefinite resident permit prior to registration of an
enterprise;

b. the marriage has been duly verified as having been validly conducted; and


c. the foreign spouse is ordinarily resident in Ghana.

 

(6) A citizen of Ghana who loses the citizenship by reason of the assumption of the citizenship of another country shall not be required to comply with the minimum capital requirement of this section.

Investment, Enterprise and why Ghana does not recognize dual citizenship
Investment, Enterprise and why Ghana does not recognize dual citizenship

Section 6 shows that Ghana does not recognize dual citizenship but recognises Ghana as country of origin for Ghanaians who have adopted citizenship of another country – ile Baba Ọmọ ko le yi pada l’aiye – l’aiye!


Sudan has the same country of origin law but accepts dual citizenship. Hence, you remain a Sudanese by origin even if you renounce Sudanese citizenship – this has impact on their census figures. Their commercial and property laws are based on protective and inclusive investment approach.

 

Regarding the commercial law in Ghana, I am in total agreement with it if it has been passed as a legislation of the country – the law is protective for Ghana nationals, especially the vulnerable ones in the informal sector. It is also inclusive for foreigners who have economic values to contribute towards the development of Ghana.

 

What are our commercial law and property law in Nigeria – kindly share them with me.

 

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