Guide On How to Obtain A Gaming Licence (Sports Betting) In Ghana.

Obtaining a gaming license for sports betting in Ghana involves a thorough process that requires adherence to regulations from key government agencies.

Here’s a breakdown of the process:

1. Registration with Registrar General’s Department:

-Incorporate a Company: The entity must be an incorporated Ghanaian company under the Companies Act, 2019 (Act 992).

-Private Company Limited by Shares: The structure for a sports betting business should be a private company limited by shares.

-Board of Directors: Appoint a minimum of two directors who are natural persons over 18 years, with at least one being ordinarily resident in Ghana.

-Company Secretary and Auditors: Appoint a company secretary, who may be a barrister or solicitor, and the first auditors.

-Business Name: Choose a business name, confirm its availability, and register with the Ghana Revenue Authority for a tax identification number (TIN).

-Constitution: Prepare and sign a constitution stating essential details about the company.

2. Registration with the Ghana Investment Promotion Centre (GIPC):

-Certificate of Compliance: After receiving the certificate of incorporation, apply for a certificate of compliance from the GIPC.

-Minimum Capital Requirement: For sports betting, the minimum foreign capital requirement is $500,000. If a Ghanaian partner is involved, the foreign investor must invest at least $200,000.

3. Registration with the Gaming Commission of Ghana:

-Company Requirements: The organization must be a limited liability company, have an identifiable office, and a registered service mark or logo.

-Minimum Stated Capital: The minimum capital requirement for sports betting is $2,000,000.

-Criminal Clearance Certificates: Obtain criminal clearance certificates for all directors, submit a tax clearance certificate, and ensure the organization is partly or wholly Ghanaian-owned.

-License Fees: Pay the license fee to the Gaming Commission

4. Additional Mandatory Registrations:

-Ghana Revenue Authority: Register for tax purposes and obtain a tax clearance certificate.

-Social Security and National Insurance Trust (SSNIT): Register and contribute for employees’ retirement benefits.

-Data Protection Commission: Register to collect and process personal data legally.

-Business Operating Permit: Obtain a permit from the local assembly where the business operates.

-Business Account: Open a corporate account with the minimum capital requirement.

5. Tax Liabilities:

-Understand and comply with Ghana’s tax structure, covering individual and corporate income taxes, Gross Gaming Revenue, and Withholding Taxes among others.

6. Legal Compliance and Reporting:

– Ensure ongoing compliance with all regulatory requirements.

– Regularly report to the relevant authorities as stipulated by the Gaming Commission and other regulatory bodies.

Important Notes:

-Joint Venture: Sports betting may require a joint venture, and foreign entities must comply with GIPC standards for joint ventures.

-Fees: Be aware of the various fees associated with registration, licensing, renewal, and operational aspects.

Source: lexology.com

About Post Author

Samuel

I am a journalist specializing in gambling in Africa and around the world. I am particularly interested in stories about games and casinos.

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Samuel

I am a journalist specializing in gambling in Africa and around the world. I am particularly interested in stories about games and casinos.