Ghana - Obtain Stockbroker License

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Procedure

Apply In-Person:

1. To Obtain Stockbroker License in Ghana, the applicant has to make an application to the International Trade Administration office.
2. The contact link of the International Trade Administration office can be found below. contact link
3. Visit the office of International Trade Administration with an application letter for the grant of a license to carry on the business of a Stockbroker License in Ghana.
4. The application should be addressed to the International Trade Administration office in Ghana.
5. Also, make sure that you have all the documents listed in the “Required documents” section of this page.
6. Payment of appropriate fees should be made and that can be found under the "Fees" section of this page.
7. Attach all the documents with the application letter and submit it to the Director of International Trade Administration.
8. After assessing the application and attached documents, International Trade Administration will initially issue an Approval-In-Principle.
9. Not later than six months after the grant of International Trade Administration office, the promoters of a proposed bank will receive a formal notification instructing to submit an application for the grant of final license.
10. The application should also contain some of the documents in support for the grant of the final license, addressed to the International Trade Administration Department.
11. Once the verifications of all the documents and application has been done, the applicant will be informed through phone or email to collect the final license within one month.

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Required Documents

• Application form
• Memorandum and articles of association
• Certificate of incorporation
• Business plan
• A statement of the un-audited accounts for the period of accounting year ending not earlier than six months prior to the date of application and audited annual accounts for the preceding two years. (In the case of application of license.
• A copy of the bank guarantee to be lodged with the securities exchange or the central depository (where applicable).
• A declaration by persons authorized as prescribed to accompany the application form

Office Locations & Contacts

International Trade Administration  
U.S. Commercial Service Ghana
U.S. Department of Commerce
Embassy of the United States of America
No. 24 Fourth Circular Road
Cantonments, Accra
Phone: +233 (0) 30 274 1000
Fax: +233 (0)30 274 1401
General Inquiries: [email protected]
Contact link

Eligibility

• No person is allowed to carry on or hold himself out as carrying on business as a stockbroker unless he is approved as such by the GCAA.

Fees

• An application fee of GHS. 2,500
• License fee is GHS. 100,000

Validity

Explain the time until which the certificate/document is valid.
e.g. Birth Certificate Valid Forever

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 processing time for this procedure is up to one month.

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.g In the following url 'http://www.youtube.com/watch?v=Y0US7oR_t3M' Video ID is 'Y0US7oR_t3M'.

Instructions

• Applicants are advised to complete the application form neatly and completely with absolute legibility and appropriateness to avoid rejections.
• Also, all the required documents must be furnished completely.
• The fee structure for the issuance of the license differs based on the nature of the business
• The failure to comply with pre-requisites of the trade license can also result in the closure of a business.

Required Information

• Name of company
• Registered office
• Date of incorporation
• Address
• Email
• Location, address and telephone number of principal office
• Location, address and telephone number of branch offices
• Details of capital structure
• Directors
• Particulars of other directorship(s) of the directors and secretary.
• Particulars of shares held by directors or secretary in other companies
• Business references
• Profile of the chief executive and key employees in the applicant company
• List the office facilities of the applicant

Need for the Document

• A Stockbroker is a person who carries on the business of buying or selling of securities as an agent for investors in return for a commission.

Information which might help

• However, the license does not allow the holder to any other trade or business than for it is issued
• Please follow government’s announcement to avoid un-necessary actions for not following the policy.

Other uses of the Document/Certificate

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

External Links

Link

Others

More information which might help people.