Business / Agribusiness Local

Registrar of Companies to Remove Non-Compliant Businesses from Registry, Affecting Over 500,000 Companies

Registrar of Companies to Remove Non-Compliant Businesses from Registry, Affecting Over 500,000 Companies

The Registrar of Companies has restated its intention to remove businesses from the registry if they have failed to renew their certificates or file their annual returns since their inception. This directive is

The Registrar of Companies has reiterated its plans to remove over 500,000 companies from the registry if they have failed to renew their certificates or file their annual returns since inception. Jemima Oware, the Registrar of Companies, stressed the importance of maintaining updated financial records and filing annual returns to stay compliant.

Metro Lens

She made these remarks during an event organized by the UK Ghana Chamber of Commerce, where she urged non-compliant firms to renew their certificates and avoid being removed from the registry.

Jemima Oware referred to Section 5A(2) of the Registration of Business Names Act, 1962 (Act 151) on Annual Renewals, which states that the Registrar may remove a business name from the register if it is not renewed in accordance with this section after the prescribed renewal period expires.

She further advised companies that have not renewed their license to do so promptly or risk being expelled from the register. The cost of renewing a business name has increased from ¢25 to ¢60.

The Registrar of Companies’ primary goal is to maintain an accurate and up-to-date register, according to Jemima Oware. Therefore, businesses must ensure that they comply with the annual renewal requirements to avoid being removed from the registry.

The Registrar’s action will affect over 500,000 companies that have not fulfilled the renewal or filing requirements since their inception. Companies are therefore advised to take prompt action and renew their licenses to avoid being struck off the register.

Leave feedback about this

  • Quality
  • Price
  • Service

PROS

+
Add Field

CONS

+
Add Field
Choose Image
Choose Video
X