On 22 January 2025, the Office of the Registrar of Companies (ORC) Ghana, issued Directive No. 5, introducing changes to company classifications and compliance requirements under the Companies Act 2019 (Act 992) and the Companies Regulations 2023 (L.I. 2473).

The directive classifies companies based on revenue and assets, with small and medium-sized companies benefiting from exemptions on filing full annual returns and mandatory external audits. These updates aim to streamline compliance, reduce administrative burdens, and lower costs for smaller businesses.

If you require any clarifications regarding the implications of this directive for your company in Ghana, please contact TEMPLARS Partner, Sarpong Odame, and Senior Associate, Aasiya Sarku Nettey.