Ghana - Conversion of a Business from Sole Proprietor to Partnership

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Procedure

Apply In-Person:

1. Visit the register general department (RGD) office and the applicant can get their application form for Conversion of a Business from sole Proprietor to Partnership in Ghana contact link or the application form can be downloaded from the link
2. Please read carefully through the application forms as it contains different sections.
3. Pay processing fees for this procedure is GHS 160.
4. The completed application form along with the supporting documents (listed below) are to be submitted by post, e-mail or electronically delivered to the Registrar of Business Names, P. O. Box 118, Accra, within 28 days after any change in any of the particulars registered.
5. The Business names Registration department will then Verify and process your application.
6. If the authorized official is satisfied that all the information are in order, you will be notified and issued with a partnership registration certificate and other supporting documents upon payment of the required fees.
7. Generally, the processing time for this procedure is taken 20-30 days.

Apply Online

1. Visit the Registrar general’s department (RGD) website link
2. LOGIN by entering your user ID and password then click on “GO”, If you don’t have an account you will be required to sign up click on “Ghana online portal access” to create an account.
3. In the RGD portal home page click on “service” tab, The Service page will be displayed, click on” conversion of business “under the business section.
4. Select “Associated Business / Company for conversion “Business Conversion and associated Business and Company details page will be displayed then Click the business RGD Number, you wish to update.
5. Check and Update entity name then select new Entity Type (Partnership) from dropdown list and then Click on “Proceed “button.
6. Applicant will be redirected to the next pages of the application process, which will display old details about the business i.e. business nature, address and contact details, make the necessary updates and ADD new data require, then click on “save and proceed”.
7. Update of partnership details i.e. Enter new Partners TIN then Click “Look up” icon
8. Associate TIN details Pop up window page will appear Edit partner details as required and then Click “OK” button.
9. Applicant will be required to fill out all mandatory fields and add new data required, (RGD Office Location, no. Of Employees Envisage, Revenue Envisaged, Select preferred notification mode) then click “save and proceed”
10. The next page will display the “summary details” of the application; verify that all the information is in order.
11. Then click on the “upload “button to initiate the uploading of the required documents.
12. “Document Upload” pop-up window will display, Select the Document type by clicking the Tick Box, Enter Document Description then click on “Upload “button.
13. “File Upload” will display, Select the document then click on “Open” button.
14. “Document Upload” window with Uploaded Document will display then click on “Done” button to return to the main screen.
15. The next page will display the “application summary” for verification, if all the information is in order, click on “confirm “button.
16. Success Message will display. Click on “Print” button if you wish to have a copy of the transaction.
17. The next step is making payment, Click Print Button to have a copy of transaction for payment (Payment are made at Authorize bank) or Click on “Make a Payment” link if you want to make the payment through RGD portal.
18. Click “OK” button to complete the process.
19. You will be notified of the outcome via email/SMS of the outcome and given further instruction.

Note: You may track the progress of the transaction via the Portal Dashboard.

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Required Documents

• Attach certificate of registration and form for cancellation.
• Attach letter of cancellation signed by the registered owner.
• Renew certificate of registration of date.
• Identification document (if any)
• Partnership deed.
• Conservation documents
• Declaration documents.

Office Locations & Contacts

Location: Accra
Address: the register general department
Department of social services in Accra, Ghana. Kinbu Rd, Accra, Ghana.
HQ2X+4X Accra, Ghana
Contact number- +233 30 266 4691
Location : link
Contact link

GREATER ACCRA REGION
P.O. Box 118 Accra
Tel: +233 302 664 691-93
Fax: +233 302 662043
Email: [email protected]
Digital address: GA-143-4647
Contact link

Eligibility

• All business registered with the GRD who wish to convert from Sole Proprietor to Partnership

Fees

• Pay processing fees for this procedure is GHS 160.

Validity

Explain the time until which the certificate/document is valid.
e.g. Birth Certificate Valid Forever

Documents to Use

Link

Sample Documents

Please attach sample completed documents that would help other people.

Processing Time

• The processing time for this procedure is taken 20-30 days.

Related Videos

Videos explaining the procedure or to fill the applications.
Attach videos using the following tag <&video type='website'>video ID|width|height<&/video&> from external websites.
Please remove the '&' inside the tags during implementation.
Website = allocine, blip, dailymotion, facebook, gametrailers, googlevideo, html5, metacafe, myspace, revver,
sevenload, viddler, vimeo, youku, youtube
width = 560, height = 340, Video ID = Can be obtained from the URL of webpage where the video is displayed.
e.g In the following url 'http://www.youtube.com/watch?v=Y0US7oR_t3M' Video ID is 'Y0US7oR_t3M'.

Instructions

• All business owner registered with the Registrar General’s Department (RGD) are required to notify the RGD if the wish to Convert their Business from Sole Proprietor to Partnership within 28 days after making the changes (please note a Partnership must have at least 2 Partners.)
• The sole proprietorship gets dissolved after the deed is attested and accepted by all the partners. Also, the partnership deed becomes effective.
• Registering a partnership deed with the RGD will enable the partners to file suits between them or on the behalf of the partnership firm.

Required Information

• Details such as business name and the operating locations.
• Partnership duration.
• Details on profit and loss shares of each partnership within the business.
• The business management details.
• Agreed principles of partnership
• Details of the total partners and employees employed by each partner.
• Provision and details on raising future capital.
• Partners and their distributed work within the business.
• Members and their obligations in the partnership firm.
• Bank account details.
• Partner withdrawal details.
• The business account system.
• Business premise ownership details.
• Details on goodwill division in case of partnership dissolution
• Distribution of assets and liabilities amongst partners at the time of dissolution.
• Provisions for bringing in or admitting new partners.
• Details on the ownership transfer or the status of the partnership after the demise or withdrawal of one of the partners.
• Provision for Partners dispute resolution within the business.

Need for the Document

• The prime reason to convert a Sole Proprietorship firm to a Partnership may be to join hand with other person to grow business with value addition in terms of expertise or capital intervention.

Information which might help

• A partnership firm can have a maximum of 20 partners (unless you are running a banking firm, in which case you have a maximum of 10 partners).
• A sole proprietorship is easy to start but can hamper your growth. After all, it’s difficult to build a big business as a single person. If one is looking to add partners to their business without any hassle or hindrance, then it is recommended to switch to a partnership.

Other uses of the Document/Certificate

Please explain what are other uses of obtaining this document/certificate.
e.g. Birth Certificate can be used as proof of identity.

External Links

Link

Others

More information which might help people.