Businesses to face sanction for non renewal of license

-

The Registrar General’s Department (RGD) has announced it will sanction companies that default in re-registering their businesses.

The caution comes even though a deadline for defaulting companies is expected to be announced by the end of October 2017.

The exercise also forms part of moves by the Registrar General’s Department to improve upon its operations.

Even though the law stipulates clear penalties for businesses that default, the RGD has decided on a flat penalty rate of three hundred Ghana cedis (GH¢300) .

Per law, Limited Liability Companies are expected to file their annual returns every eighteen months (11/2 years) while Sole proprietors renew their registration yearly.

The Public Relations Officer for the Registrar General’s Department, Constance Takyi disclosed the decision of the department to cancel businesses off the registration list when she spoke on Business Today.   

“We have given ample time, we have given over two years for people to do this; if you are in the old database come and renew and re-register and let us know that you are doing active business so as part of the press release that we sent, we said that after a period we are going to begin striking out the names.”

She added, “So the Registrar General’s Department has the power to be striking out the names of people that are dormant in the database”.

Meanwhile the Department will today, October 19th 2017, launch the electronic certificate.

This forms part of moves to reduce the turnaround time of registering businesses.

With this, clients will be able to print their certificates, forms and profiles from the comfort of their homes and offices or wherever they may be.

Additionally, the feature would reduce the number of clients who throng the Department’s offices nationwide on a daily basis to process their documents.