If you own a licensed money lending business in Ghana and need to update the details of your directors, you must apply to the International Trade Administration (TRADE) office. This process involves submitting a formal application, including several supporting documents and the payment of required fees. Below is a step-by-step guide to applying for a change in the particulars of directors for your money lending business in Ghana.
Step 1: Apply In-Person
To begin the application process, you must visit the International Trade Administration (TRADE) office in Ghana.
- Obtain the application form from the TRADE office.
- Carefully fill out the application form, ensuring that all necessary fields are completed.
Step 2: Submit Required Documents
Ensure you have the following documents ready to submit along with your completed application form:
- Notification of Change of Particulars signed by both the outgoing and incoming directors.
- Registration form, signed by the incoming officials.
- Criminal clearance certificate (equivalent of a certificate of good conduct in Ghana).
- Original minutes authorizing the change of directors, signed by both the outgoing and incoming officials.
- Death certificate (if applicable) for a deceased director, along with an affidavit from local administration, eulogy, or a newspaper advertisement.
- Two passport-size photographs of the incoming officials on a white background.
- Copy of ID/Passport of the incoming official(s).
- ID proof of the applicant (PAN card, driving license, passport, or bank passbook).
- Address proof of the applicant (driving license, passport, bank passbook).
Make sure all documents are legible and in the required format.
Step 3: Submit the Application
After filling out the form and collecting the required documents, submit the completed application to the International Trade Administration office in Ghana.
- You may need to provide an introductory/recommendation letter from the money lending business showing the new appointed directors.
Step 4: Pay the Required Fees
Once your application and documents are submitted, ensure you pay the required fee for the application process.
- Registration fee for the change of directors, secretaries, or physical address is GHS 100,000. The fee can be paid via cash, cheque, or credit card (Visa or MasterCard).
Step 5: Processing and Verification
Once the application and payment are received, the TRADE office will verify the application and supporting documents.
- The TRADE office will conduct due diligence on the incoming and outgoing directors.
- If the TRADE office is satisfied with the new management, they will issue a Notice of No Objection to the changes.
- If there are concerns, a Notice of Objection will be issued.
Step 6: Final Approval and License Update
Upon successful verification, the TRADE office will update the company’s director particulars and issue an updated license reflecting the changes.
- If your application is accepted, the update will be made to the official records, and you will receive confirmation from the TRADE office.
Required Documents for Director Change Application
Ensure that you submit the following documents:
- Notification of change of particulars signed by both outgoing and incoming directors
- Registration form filled and signed by the incoming directors
- Criminal clearance certificate (or certificate of good conduct)
- Original minutes authorizing the change in directors, signed by both outgoing and incoming officials
- Death certificate (if applicable) and affidavit or newspaper advertisement
- Two passport-sized photos of incoming directors
- Copy of ID/Passport of incoming official(s)
- ID proof of the applicant (PAN card, driving license, passport)
- Address proof of the applicant (driving license, passport, bank passbook)
Fees
The fee for changing the particulars of directors for a licensed money lending business is GHS 100,000.
Eligibility
The following are eligible to apply for a change of directors for a licensed money lending business:
- A registered money lending business operating in Ghana.
- The applicant must be a valid business entity seeking to update its director particulars.
Validity
The change of directors certificate is valid as long as the registered company operates under the updated management and continues to comply with regulations.
Processing Time
The processing time for this application is approximately 2 days after submission.
Common Mistakes to Avoid
To avoid delays or rejections, make sure to:
- Submit accurately filled forms.
- Ensure all required documents are included and signed.
- Pay the correct fees on time.
- Ensure the criminal clearance certificate and other proofs are valid.
Final Tips for a Successful Application
- Double-check that the application form is completely filled out.
- Ensure all documents are legible and correctly formatted.
- Be proactive in following up with the TRADE office if you don’t hear back within the processing time.
Contact Information for TRADE Office
- Address:
International Trade Administration
U.S. Commercial Service Ghana
Embassy of the United States of America, No. 24 Fourth Circular Road, Cantonments, Accra, Ghana - Phone: +233 (0) 30 274 1000
- Email: [email protected]
This guide provides the necessary steps to apply for a change in directors for your licensed money lending business in Ghana. Ensure that you submit the required documents and pay the appropriate fees to successfully update the directors of your business. For further assistance, contact the International Trade Administration directly.
