The 2025 Ghana GoldBod Act has introduced a new licensing regime for all entities involved in the purchase and export of gold. Foreign companies looking to legally offtake gold from Ghana must now follow a structured and government-regulated pathway. Below is a detailed step-by-step guide provided by Clinton Consultancy to help foreign companies become compliant gold offtakers.

Step 1: Incorporate a Local Entity in Ghana Foreign companies must first incorporate a Ghanaian-registered company. This entity will serve as the local presence required to apply for any license under the GoldBod regime.

Step 2: Register with the Ghana Investment Promotion Centre (GIPC) GIPC registration is mandatory for all foreign-owned companies in Ghana. It ensures compliance with investment laws and enables the company to operate legally within the country. GIPC registration also confirms that the minimum capital requirements have been met.

Step 3: Open a Local Bank Account and Obtain a Tax Identification Number (TIN) A TIN is required for all corporate tax and compliance matters. The local company must also open a corporate bank account with a licensed Ghanaian bank.

Step 4: Apply for a Foreign Offtaker License from the Ghana GoldBod Once the company is registered and GIPC-certified, it may apply for a Foreign Offtaker License. This license allows the company to purchase and export gold from licensed aggregators and miners within Ghana.

Step 5: Undergo Due Diligence and KYC Checks The GoldBod will conduct thorough due diligence on the company’s directors, shareholders, and source of funds. The company must submit all relevant corporate and personal KYC documents.

Step 6: Submit a Business Plan and Gold Offtake Strategy As part of the license application, the company must submit a credible business plan detailing its gold trading intentions, sources of gold, security protocols, and end-use markets.

Step 7: Receive Approval and Commence Operations Once approved, the company may begin offtaking gold from Ghana. Compliance audits may be conducted periodically by the GoldBod to ensure continued adherence to licensing terms.

Step 8: Renew License Annually and Maintain Compliance The license must be renewed annually. Ongoing compliance with export procedures, taxes, and operational audits is critical to maintaining good standing.

About Clinton Consultancy Clinton Consultancy is a leading law firm in Ghana specializing in gold trade compliance, company setup, investment law, and international arbitration. We provide full-service legal advisory for foreign companies entering the Ghanaian market. For tailored support on GoldBod licensing and beyond, contact us today.

Email: info@clintonconsultancy.com
Phone: +233 27 252 2695