Applications Requirements
Legal and Regulatory Requirements
- Company Documents
A certified true copy of the following Company documents should be provided:
- Name of company in full
- Other names used in the past
- Date of incorporation
- Place of issue of certificate of incorporation
- Reference no. of certificate
- Postal address
- Registered address
- Ghana Post GPS address
- Telephone contact
- Company’s e-mail address
- Director’s e-mail & phone number
- Director’s e-mail & phone number
- Director’s e-mail & phone number
- Police clearance report
- Testimonial on the operation as well as the details of the key management personnel and shareholders
- Litigation disclosures
- IDs of key management personnel and shareholders
- Names and Address of Shareholders of Company
- Name
- Date of birth
- Place of birth
- Nationality (attach national ID card)
- Address (attach utility bill)
- Percentage of shares held
- Names and Address of Board of Directors of Company
- Name
- Date of birth
- Place of birth
- Nationality (attach national ID card)
- Address (attach utility bill)
Operational Requirement
- Premises of Proposed Applicants (Aggregation Centers and Offices)
- Title deed and/or lease agreement of all premises
- Approval by relevant authorities (e.g., business operating permit, EPA, etc.)
- Health and Safety
- Adequate business space
- Staff operating area
- Ventilation
- Lighting
- Adequate security of premises including adequacy of alarm systems, fire extinguishers, vaults or safes, etc.
- Independent security assessor’s report
- Insurance – goods-in-transit, bullion, fire, burglary, fidelity guarantee, etc.
- Assay Equipment for Gold
- Balances
- XRF
- Other assay facilities
- List of Countries Covered by This License
- Togo
- Cote D’Ivoire
- Burkina Faso
- Experience in Gold Trading
Under the PMMC and/or MLNR for at least 1 year
Financial Requirements
- Working Capital
A minimum capital requirement of at least cedi equivalent of One (1) Hundred Thousand US Dollars.
- Documentary evidence of the working capital of the applicant, including the original sources of funds
- Financial Performance and Records for the Past 1 Year for Gold Trade
- Business Plan and Financial Projections for the First Three Years
- Audited Financial Statement for a Year
- Tax Clearance Certificate
- SSNIT Clearance Certificate
- Other Business Interests
- Fees and Charges
Description Amount Application Processing Fees GHS100,000.00 License Fee Cedi Equivalent of $10,000.00 Annual License Renewal Fee Cedi Equivalent of $3,000.00 - Important Notes
- An application for a license must be accompanied by an application processing fee.
- After final approval is granted, the applicant would be required to pay the license fee before the license will be issued.
- A licensed importer is required to pay an annual license renewal fee.
- All the above-stated fees are payable by cheque or payment order to the GOLDBOD.
Interview
The GOLDBOD Technical Directorate shall conduct interviews of shortlisted applicants.
Governance, Risk and Policies
- The Facility Should Have the Following in Place
- Chartered accountant in good standing
- Security coordinator
- An external audit firm
- Internal control process
- Management plan and Standard Operating Procedures (SOPs) for the operations
- Policies for Gold Sourced
- Responsible sourcing
- Anti Money Laundering (AML)
- Counter Terrorism Financing (CTF)
- Anti Bribery and Corruption
- Supply Chain
Changes in Licensing Conditions
It should be noted that the above conditions for license are subject to review and could affect an application in process.
The GOLDBOD relies on other agencies both local and external in the processing of applications.
Terms and
Conditions
Grant of Licence
This non-transferable licence is issued and granted pursuant to GoldBod’s statutory mandate to appoint licenced buying agents for the purchase of gold from small-scale miners.
Appointment of Agents
Upon a written request of the Licence Holder, GoldBod may issue ID Cards to employees of the Licence Holder who shall act as its agents for the purpose of carrying on gold purchases from small-scale miners. The ID Cards shall be limited to five employees of the Licence Holder.
Filing of Returns
The Licence Holder shall file monthly returns on all gold purchases. The returns shall be filed in the manner and format as directed by GoldBod.
Pre-emptory Right Of GoldBod
GoldBod shall have the first option to purchase all or part of the gold from the Licence Holder. Should GoldBod not exercise this right, the Licence Holder may sell only to a Licenced Gold Dealer and/or Exporter.
Exports
Gold purchased shall only be exported through GoldBod
Duration of Licence and Renewal
i. The Licence once issued shall be valid for Twelve (12) calendar months from the date of issuance.
ii. Upon expiry, an Applicant may apply for renewal of the Licence within three (3) months from the date of expiry, provided always that any application for renewal beyond the stated period shall be treated as a new application.
iii. An Application for renewal shall be considered and granted on the following conditions:
The Applicant has submitted (up-to-date returns) on gold purchases made during the subsistence of the licence to returns@goldbod.gov.gh.
A satisfactory police clearance report.
Proof of location of the registered office of the Applicant.
Payment of appropriate fees.
Provided always that GoldBod reserves the right to renew or refuse the renewal of the trading licence.
Compliance with Laws
The License Holder shall at all times abide by the laws of Ghana, including other relevant international laws. The License Holder solemnly declares that it shall not use or permit the use of the License granted hereby in any criminal enterprise or for any transaction which is criminal in nature or facilitates money laundering.
Revocation of Licence
GoldBod reserves the exclusive right to revoke the License upon stated grounds, including but not limited to a breach of the terms and conditions of the License.
