Exclusive Government Documents & Licenses Issued To Chy Mall Which Suggest They May Be Running Legit Business

- Advertisement -
- Advertisement -

After the Securities and Exchange Commission (SEC) issued a warning to Ghanaians to desist from investing their monies in Chy Mall – an international online shopping platform, many have reacted differently to it.

While investors in this company give several reasons to debunk the validity of the warning issued by the SEC and encourage others to give it a try, other Ghanaians are saying it may be another Ponzi Scheme in the making.

Those in close contact with managers of the Chy Century Heng Yue Group Limited/Sairui E-Commerce Ghana Limited which has its Ghana head office at East Legon in Accra have said it is not an investment company but an online retail shop.

According to these individuals, SEC does not superintend over e-Commerce businesses thus the warning is dead on arrival. Another argument made by some of these people is that the appropriate authorities have issued licenses to the business and they do receive their monies as scheduled; that’s what they are concerned about.

Well, Ghbase.com has delved deeper into the Chy Mall business and discovered some government documents and licenses issued to the business which may as well clear all the doubts about their dealings and the legitimacy thereof.

1, Chy Mall has TIN (Tax Identification Number).

The TIN is a special number that is issued to a person(s) and businesses by the Ghana Revenue Authority to certify that they are taxpayers.

This TIN becomes a prerequisite for the opening of bank accounts and to facilitate other government or state transactions. It was issued to Chy Mall on 19th May 2020.

2, Chy Mall has Certificate to Commence Business from the Registrar of Companies

This document gives Chy Century Heng Yue Group Limited/Sairui E-Commerce Ghana Limited the legal access to run their business in Ghana. It was issued to them on 19th May 2020.

The Certificate To Commence Business is issued by the Registrar of Companies at the Registrar Generals Department to companies to certify that they have fulfilled all requirements needed for them to operate. This license suggests that Chy Mall has passed through all the processes to have their company registered.

3, ChyMall has a Certificate Of Incorporation from the Registrar Generals Department.

This legal document was issued to Chy Century Heng Yue Group Limited on 19th May 2020 by the Registrar of Companies at the Registrar Generals Department.

This certificate is issued to businesses to certify that the government recognizes their formation and has given them the go-ahead to operate in a specific jurisdiction. It also proves that a company has been legally created and officially exists.

In this instance, Chy Mall has been recognized by the state and given the certificates to operate.

4, Chy MALL has Certificate Of Registration from GRA

The Ghana Revenue Authority has issued a certificate of registration to Chy Century Heng Yue Group Limited/Sairui E-Commerce Ghana Limited to certify that they are a company that pays taxes promptly especially Value Added Tax (VAT) and other taxes.

This certificate is only issued to businesses to prove that the GRA recognizes them as a tax compliant company. The certificate which was issued to Chy Mall on 5th August 2020 proves that the GRA is satisfied with their operations as far as paying of taxes is concerned.

5, Chy Mall is registered under GIPC

The Ghana Investment Promotion Centre (GIPC) which has jurisdiction over e-commerce businesses as claimed to be run by CHY Mall has issued a certificate of Registration to Chy Century Heng Yue Group Limited.

This also suggests that Cjhy Mall has been given the green light to operate in such an industry. This was issued to the 13th August 2020 and has to be renewed within 2 years.


Now that these legal documents clearly show that Chy Mall, after all, may be running a legit business which the governemnt of Ghana recognizes and has issued all the required documents and licenses, how then should Ghanaians welcome the new directive?

However, as SEC has warned Ghanaians to stay away from Chy Mall, does it mean they may have smelled rat or it’s just a deliberate attempt to stop Ghanaians from enjoying mouthwatering benefits? It is yours to decide.

Remember, all these documents can only be certified by the issuers.

- Advertisement -

Most Read Stories

Journalist Alberthttps://ghbase.com/
Online Journalist with Ghbase.com || Blogger || Journalistalbert@gmail.com

Leave a Reply

Latest News

Don’t be shy to ‘pour out’ your b00bs for your man to play with them – Busty GH tells ladies

Heavy-chested Ghanaian beautician, Busty GH, has advised women not to be shy to pour out their breasts in the...

More Articles Like This