Gold Licensing

Diamond Licensing

Licensing Procedure

For Gold and Diamond Buying Agents

1.

Purchase Application Form at Head Office or Download on PMMC website

2.

Submit fully completed Application form with Application Letter addressed to MD PMMC

3.

The applicant must be either a duly registered Sole Proprietorship or Limited Liability company.

4.

Application must include the following:

  • Fully registered company documents from Registrar- General Department of Ghana. (Certificate of Incorporation, Certificate of Registration (Sole Proprietorship), Form 3 and Form 4.
  • A Company with foreign participation shall produce a copy of the Ghana Investment Promotion Company GIPC Certificate.

5.

Provide copies of such Documents as:

  • Proof of location of the Registered Company (Utility Bill within the last 6months).
  • Ghana National ID.
  • 2 passport size photographs of the Directors and Shareholders of the Company.

6.

Processing Fees:

  • GHS 100 ( Wholly Ghanaian-owned Companies)
  • USD 500 (Companies with foreign participation)

License Fee:

  • GHS7,000 (New Application) and GHS5,000 (Renewal) – (Wholly Ghanaian-owned Companies)
  •  US$5,000 (New Application) and US$3,000(Renewal) – (Companies with foreign participation)

7.

PMMC on receipt of a satisfactory response from the police, shall issue the licence to the Applicants subject to terms and conditions.

8.

PMMC shall also issue five (5) ID cards to five (5) members of staff of the Applicants on receipt of 2 passport pictures and copies of valid Ghana National IDs of each staff.

9.

The License once issued shall be valid for Twelve (12) calendar months from the date of issuance.

10.

PMMC reserves the exclusive rights to revoke the License upon stated grounds including but not limited to a breach of the terms and conditions of the License.

11.

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.

Conditions for Renewal

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 license.
• A satisfactory police clearance report.
• Receipt of proof of location for the Registered Company. (Utility bill within the last 6 months).
• Payment of appropriate fees.

Acquisition of Gold License

To be able to act as a third party gold dealer in Ghana, the requirements are as follows:
1. Interested companies should be limited liability companies duly registered in Ghana.
2. Present copies of the following:
– Certificate of incorporation
– Certificate to Commence Business
– Form 3 and 4 from Registrar General
– Utility Bill
– Valid ID Card (Any of these: Voter ID, Driver’s License, Passport, National ID)
– Two (2) Passport Size Photo
3. Download, complete and submit PMMC Application form

Download Gold License Forms

Cancellation of Gold License

A breach in any of the following will lead to a cancellation of license:
1. Making any false statement about your operations with the license which you know or ought to have known to be false.
2. If you export gold through any entity other than an accredited Licensed Gold Exporter LG or Licensed Gold Purchasing Company.
3. If you are involved in any illegal transaction using the license.
4. Purchasing gold from only some selected local winners.

PMMC is located in the Diamond House building in Accra, situated on the Kinbu Road adjacent to the Registrar-General’s Department and next to the Ministry of Foreign Affairs.

Acquisition of Diamond License

Procedures for Local Licensed Buying Agents

1. The interested company should be a limited liability company duly registered in Ghana.
2. Present copies of the following:
– Certificate of incorporation
– Certificate to Commence Business
– Form 3 and 4 from Registrar General
– Resident Utility Bill
– Valid ID Card (Any of these: Voter ID, Driver’s License, Passport, National ID)
– Two (2) Passport Size Photo
3. Download, complete and submit PMMC Application form

Download Diamond License Forms

Procedures for the Purchase and Export of Diamonds

1. Interested Companies are required to send applications to PMMC for a license to purchase rough diamonds in Ghana
2. PMMC will make available the requisite forms for the license. The form is to be completed and returned.
3. The receipt of a satisfactory due diligence report will entitle the company to a license.
4. Companies issued with a license will be provided with a furnished office on the first floor in the Diamond House building in Accra, Ghana.
5. All purchasing of rough diamonds must be done in the office of Diamond House.
6. Companies issued with licenses will be required to have a Diamond Valuer who will be resident in Accra, Ghana to purchase the rough diamonds on their behalf, directly from the local winners and companies.
7. Funds for the purchase of the diamonds in Ghana are to be transferred from the license holder’s bank to a designated bank by PMMC before the commencement of purchase
8. Rough diamonds are not to be purchased by direct cash payments but through Bank-to Bank payments. PMMC will pay the winners based on invoices presented by the LBCS.
9. Rough diamonds purchased by LBCS will be secured in metal specie boxes at the end of each working day, to be kept in the PMMC vault.

10. Exports of the rough diamonds purchased will be undertaken by PMMC upon a written request by the license holder to the designated overseas address given by the license holder. All rough diamonds purchased must be paid for before export.

11. PMMC will complete all the required export documents and organize the sealing of the parcel on behalf of the license holder
12. All rough diamond exports will be subjected to pre-shipment inspections.
13. The diamond to be exported will be accompanied by the following documents:
– Packing list
– Ghana Kimberly Process Certificate
– Airway bill
– Invoice indicating quantity in carats and value in both US Dollars and Ghana Cedi
– Bank of Ghana and Customs Export documents
14. PMMC will be responsible for delivering the parcel to be exported to the Airline at the Kotoka International Airport, Accra.
15. PMMC charges an export fee of a two-point percent (2.3%) on the value of rough diamonds to be exported.
16. The exporter must give a day’s advance official notice before export.

Cancellation of Diamond License

A license may be cancelled or revoked for any of the following offences.

  1. Unsatisfactory due diligence report on the Company
  2. Inactivity of the license holder for a period of one month without prior notice to PMMC
  3. Purchasing diamonds outside the Diamond House Office.
  4. Purchasing diamonds from only some selected local winners
  5. Using the office allocated for purposes other than the purchase of rough diamonds.

PMMC is located in the Diamond House building in Accra situated on the Kinbu Road adjacent to the Registrar-General’s Department and next to the Ministry of Foreign Affairs.