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.”