Ghana - Apply for Corporate Trustees License

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Procedure

Apply In-Person:

1. Application form for Corporate Trustees License is available in the National Pensions Regulatory Authority office in Ghana.
2. Address and contact details can be found in the following contact link
3. Then, the applicants can get their application form.
4. Applicant has to enter all information in the application form.
5. Applicant must make sure to carry both photocopies and originals of all documents are necessary for completing this procedure.
6. Applicant must make sure to carry all necessary documents that are mentioned under “Required Documents” section of this page. (Both photocopies and originals)
7. Applicant should attach photocopies of documents (whichever is necessary) along with the applicant from while submitting it at the office.
8. The Fee for this procedure has to be paid as per authority’s request.
9. If all the above mentioned procedures were followed properly by the applicant, the application form will be viewed by concerned authorities and the applicant will be notified regarding their License.
10. This application will be processed and information will be verified by the NPRA.
11. If the verification is successful, notification will be sent to the applicant.
12. After the notified period applicant gets certificate as per applicable delivery norms.
13. The process will takes a minimum of 15 days.

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Required Documents

As part of the licensing requirements, the Applicant must submit to the NPRA, evidence that:

• It is trust Company with a registered company name including the word “Trust” or “Trustee”, and its business is restricted to trust business.
• Satisfies the minimum capital and net asset value requirement.
• It has sufficient expertise and management resources including human resources to conduct its business operations effectively.
• Have at least three (3) Directors all of whom shall be individual persons with at least one of the Directors being an independent Director.
• A Certified True Copy of the Regulation of the Applicant Company.
• Duly completed application form and supporting documents should be submitted in both hard and soft copies in sealed envelopes to the following address.

Office Locations & Contacts

Address: CHIEF EXECUTIVE OFFICER NATIONAL PENSIONS REGULATORY AUTHORITY
PMB, MINISTRIES POST OFFICE, ACCRA.
Government office in Accra, Ghana
Su tower, No.18CastleRd, Ridge Accra
HQ7X+C4Accra.Ghana.
Hours: Closed ⋅ Opens 8AM
Phone: +233 30 296 8692/ +233 (302) 968 693
Toll free number: 0800766000 (MTN Toll Free)
Email id: [email protected]
Contact Link
Location link

Eligibility

An Applicant shall not qualify to be appointed as Corporate Trustee unless that Applicant:

• Is a body corporate incorporated inGhana.
  
• Is a Trust Company with a registered company name including the word “Trust” or “Trustee”anditsbusinessisrestrictedtotrustbusiness.
  
• Satisfiestheminimumcapitalandnetassetvaluerequirement.
  
• Haveatleastthree(3)Directorsallofwhomshallbeindividualpersonswithat least oneoftheDirectorsbeinganindependentDirector
  
• Has Controllers who are persons of good reputation and character and, in particular, have not been convicted by a Court of competent jurisdiction whether in Ghana or elsewhere, ofanoffenceinvolvingfraudordishonesty.
  
• HasemployedaComplianceOfficerwiththerelevantprofessionalqualificationand experience.
  

Fees

• The Fee for this procedure has to be paid as per authority’s request.

Validity

• Corporate Trustees License validity for 1 year.

Documents to Use

Please attach documents that can be used by people. e.g. links

Sample Documents

Please attach sample completed documents that would help other people.

Processing Time

• The process will takes a minimum of 15 days.

Related Videos

Videos explaining the procedure or to fill the applications.
Attach videos using the following tag <&video type='website'>video ID|width|height<&/video&> from external websites.
Please remove the '&' inside the tags during implementation.
Website = allocine, blip, dailymotion, facebook, gametrailers, googlevideo, html5, metacafe, myspace, revver,
sevenload, viddler, vimeo, youku, youtube
width = 560, height = 340, Video ID = Can be obtained from the URL of webpage where the video is displayed.
e.gIn the following url 'http://www.youtube.com/watch?v=Y0US7oR_t3M' Video ID is 'Y0US7oR_t3M'.

Instructions

Please provide other instructions related to the certificate/documents.
E.g. the state office holds birth records since January 1908.

Required Information

• Applicant name
• Applicant address
• Contact number
• Email id
• Name, Address (physical and electronic) telephone numbers of the person to whom enquiries may be referred.
• Addressandlocationof the Applicant’s Registered Office, and Head Office if different from the Registered Office.

Need for the Document

• Occupational Pension Schemes, Provident Fund Schemes, Personal Pension Schemes and other Privately-Managed Schemes shall only be managed by Trustees licensed by the Authority.

Information which might help

• In developing these requirements, the National Pensions Regulatory Authority (NPRA) has provided Pension Fund Custodians with the minimum requirements as to how it could achieve the prudential objectives of the requirements.
• Furthermore, these requirements are not intended to be all encompassing, references to the Act and the Regulations shall always be taken into consideration.

Other uses of the Document/Certificate

Please explain what are other uses of obtaining this document/certificate.
e.g. Birth Certificate can be used as proof of identity.

External Links

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Others

More information which might help people.