Business name, partnership or company: which should I choose?

The short answer

• A business name suits one person trading on their own. It is the simplest and cheapest to register. In law, you and the business are the same.
• A partnership suits two or more people who trade together and share the profit. Liability is personal and shared between the partners.
• A company limited by shares is a separate legal person. Shareholders’ liability is limited to their shares. It suits growth, investors, larger contracts and foreign shareholders, and it carries more obligations every year.

Business name (sole proprietorship)

One owner, trading under a registered name. You need your Ghana Card, whose number doubles as your taxpayer identification number, a GhanaPostGPS digital address for the business, and a plain description of what it does.

Government fees are GHS 130 for registration and GHS 30 for the name search. Our service fee is GHS 350. The registration is renewed every year: the government renewal fee is GHS 70, and our fee to handle it is GHS 120.

Partnership

Two or more partners, each of whom verifies their own identity and approves the application. A written partnership agreement is strongly advised: it records how profit is shared and what happens if a partner leaves. You can use your own, or have a partner lawyer draft one.

Government fees are GHS 270 for registration and GHS 30 for the name search. Our service fee is GHS 750. Partnerships also renew every year.

Company limited by shares

A company is its own legal person, separate from the people who own and run it. It needs:

• At least two directors, at least one of whom is ordinarily resident in Ghana
• A company secretary with the qualifications the Companies Act, 2019 (Act 992) requires. We can introduce a partner secretarial firm.
• Shareholders, who may be individuals or companies, and a stated capital
• Its beneficial owners identified: the people who ultimately own or control it
• A registered office at a physical address in Ghana

Government fees are GHS 585 for registration and GHS 30 for the name search, plus stamp duty at 1% of stated capital, paid via the Registrar. Our service fee is GHS 1,800. Every company then files an annual return each year.

Side by side

Government fees are from the ORC schedule effective 2 February 2026 and are verified again at checkout.

Questions that usually decide it

• Will anyone else own part of it? Then a partnership or a company, not a business name.
• Do you need to limit your personal risk? Only a company separates the business’s debts from yours.
• Will a bank, a client or a tender ask for a company? Larger customers and contracts often do.
• Will any shareholder be a foreign national? You will need a company, and possibly GIPA registration. See foreign investors and the GIPA Act.
• Are you testing an idea on your own, with little at stake? A business name may be enough for now.

A common, costly pattern

Many founders register a business name because it is the cheapest option, then find they need a company within a year. Changing structure later costs time and fees, and until then they carry unlimited personal liability. If you expect to grow, take on partners or bring in investors, price the company route before you decide.