Renewal fee for business names to increase from December 31 - ORC

The Office of the Registrar of Companies (ORC) has announced an upward adjustment in the cost of the renewal of business names from GHȼ25 to GHȼ30 from December 31, 2022.

It also stated that a penalty fee for Companies and Partnerships in default will also increase from GHȼ450 to GHȼ600.

A statement issued by the Office of the Registrar said: “This increment in fees would apply to all Sole Proprietorships and Subsidiary Business Names as well as Companies in default including Churches, Associations, Unions, Foundations, Schools, Fun Clubs, External Companies, and Professional Bodies.”

It also urged companies to file their Financial Statements together with their Annual Returns at a cost of GHȼ60 per year to renew their Companies.

External Companies are to submit their Group Accounts to the ORC at a cost of $690.00 per year or in default pay a penalty of $750.00 in addition to fees for all the years in default. Partnerships are to renew their Partnerships at GHȼ60.00 per year.

The Registrar, therefore, added that some 2584 companies in default whose names had been earmarked for strike off from the Companies Register during the clean-up exercise can still be in good standing by filing their Annual Returns by the end of the year.

Also, “all Business Entities (Companies, Partnerships, and Sole Proprietorships) yet to migrate their business records onto the e-Registrar application dubbed ‘Re-Registration’ have up to 31st January 2023 to do so and be in good standing to avoid sanctions.”

See the full release below

The Office of the Registrar of Companies (ORC) wishes to inform its Stakeholders, Company Officials, Business Owners, cherished Clients and the General Public that there will be an increase in the renewal fee for Business Names from GHȼ25.00 to GHȼ30.00 and a penalty fee for Companies and Partnerships in default from GHȼ450.00 to GHȼ600.00 effective 31st December, 2022.

This increment in fees would apply to all Sole Proprietorships and Subsidiary Business Names as well as Companies in default including Churches, Associations, Unions, Foundations, Schools, Fun Clubs, External Companies and Professional Bodies. Companies are to file their Financial Statements together with their Annual Returns at a cost of GHȼ60.00 per year to renew their Companies. External Companies are to submit their Group Accounts to the ORC at a cost of $690.00 per year or in default pay a penalty of $750.00 in addition to fees for all the years in default. Partnerships are to renew their Partnerships at GHȼ60.00 per year.

Further to the above, the 2,584 Companies in default whose names had been earmarked for strike off from the Companies Register during the clean-up exercise can still be in good standing by filing their Annual Returns by end of year, 2022.

All Business Entities (Companies, Partnerships, and Sole Proprietorships) yet to migrate their business records onto the e-Registrar application dubbed ‘Re-Registration’ have up to 31st January, 2023 to do so and be in good standing to avoid sanctions.

In compliance with the provisions of the Companies Act, 2019 (Act 992), the Company Secretary is to submit a Special Resolution for a change of their Company Name if they have not complied as yet to our directive, by the addition of an appropriate ‘suffix’ to the end of their Company’s Name by 31st December, 2022. All Companies who have not as yet adopted a Registered Constitution reflecting the changed name in place of their Company’s Regulations are also being reminded to do so before the end of the year, 2022.

The Office entreats our cherished clients to make payments on transactions at our in-house Fidelity Bank or any Fidelity Bank branch across the country. We kindly bring to the attention of our clients and issue a caution to ignore any calls from fraudsters, for mobile money (MOMO) transfers in the name of ORC/RGD or persons claiming to be Lawyers or Staff of the Office of the Registrar of Companies(ORC). The ORC does not operate a MOBILE MONEY NUMBER and any Company Official who pays out monies to these calls do so at their own risk.

For further enquiries please contact the Public Relations Unit on 055-765-3130 (Telegram/WhatsApp) or 030-266-6081. Follow us on our social media handles on Facebook, Twitter, LinkedIn and Instagram @ORC Ghana.

ORC –BRINGING EFFICIENCY TO BUSINESS REGISTRATION AND REGULATION IN GHANA.

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