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    Company Registrations in Zimbabwe

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    Emmanuel Nhachi
    A company is basically a legal entity formed by a group of individuals to engage in and operate a business—commercial or industrial—enterprise. In Zimbabwe you can register as a Public Business Corporation (PBC) or Private Limited Company (Pvt Ltd) or Public Limited Company.

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    © All Rights Reserved
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    Company Registrations in Zimbabwe

    Uploaded by

    Emmanuel Nhachi
    2K views2 pages
    A company is basically a legal entity formed by a group of individuals to engage in and operate a business—commercial or industrial—enterprise. In Zimbabwe you can register as a Public Business Corporation (PBC) or Private Limited Company (Pvt Ltd) or Public Limited Company.

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    © © All Rights Reserved

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    A company is basically a legal entity formed by a group of individuals to engage in and operate a business—commercial or industrial—enterprise. In Zimbabwe you can register as a Public Business Corporation (PBC) or Private Limited Company (Pvt Ltd) or Public Limited Company.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    2K views2 pages

    Company Registrations in Zimbabwe

    Uploaded by

    Emmanuel Nhachi
    A company is basically a legal entity formed by a group of individuals to engage in and operate a business—commercial or industrial—enterprise. In Zimbabwe you can register as a Public Business Corporation (PBC) or Private Limited Company (Pvt Ltd) or Public Limited Company.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    of 2

    COMPANY REGISTRATIONS IN ZIMBABWE.

    What is a company?

    A company is basically a legal entity formed by a group of individuals to engage in and operate a
    business—commercial or industrial—enterprise. In Zimbabwe you can register as a Public Business
    Corporation (PBC) or Private Limited Company (Pvt Ltd) or Public Limited Company.

    Why do you need to register a company?

    1. Most procurement polices require organisations to do business with entities which are
    registered, which have proper paperwork and which pay taxes.
    2. It limits the risk of doing business.
    3. It is a separate legal entity or “person” therefore it can accrue its own debts, trade in its own
    name and it limits individual liability to the amount of shares one has in a company.
    4. A company can virtually trade anywhere.
    5. You can have access to wider capital or skills base.
    6. It has perpetual existence.

    What is a Private limited company?

    This kind of company can have from 2 to 50 directors. It is suitable for small to large companies and
    international companies. This company has all the advantages listed above and liability is limited to
    the amount of shares one has. It can also own shares in other companies except a PBC. It is regarded
    as a juristic person therefore it can do almost everything a natural person can do. It is however more
    complicated and expensive in the sense that it must be audited annually, the company must file annual
    returns and it can be deregistered for not doing so in 2 years.

    What are the requirements for registering a Private Limited Company?

    1. You will need a Z$150 budget for all the fees that are paid to the company registry.
    2. There is need to supply full names, ID numbers, addresses of directors or shareholders.
    3. Have up to 5 proposed company names which are not similar to any registered company.
    4. Have the main object of your company
    5. The issued share capital and the number of shares issued to each shareholder.
    6. The signature of each shareholder of the Private Limited Company is needed on the
    Memorandum & Articles of Association, and 1 Director or company secretary must sign the
    CR6 and CR14.
    7. Physical and postal address of the business.
    8. Specific forms are prepared when one wants to set up a PLC. These are the CR6, CR14,
    Memorandum and Articles of Association.
    9. The process will normally take one a week to complete.

    What is a Public Business Corporation (PBC)?

    This is a company which has 1 – 20 members. It is suitable for sole proprietorships or small companies
    and start-ups however another company cannot hold shares in a PBC. It has very few legal
    requirements to set up and takes very little time and money to set it up. It has all the features of a
    Private limited company and it has no limit in the number of employees it can have. The advantage it
    has over Private Limited Companies is that it is cheaper to set up and operate. There is no need for
    audits or paying and filling annual returns. Meetings are not compulsory.
    What are the requirements for registering a Private Business Corporation (PBC)?

    1. The process will usually take a week to complete and you will need Z$25 to pay to the
    companies registry.
    2. Chose 1 to 4 proposed names for your Private Business Corporation, once you do the name
    search and the name is reserved, you will need to register the company within 30 days.
    3. You lodge PBC1 form with the reserved name together with PBC2, which is a statement of
    Incorporation.
    4. The forms requires the following details;
    a. Name of PBC
    b. Names of members of PBC
    c. Percentage contribution of members.
    d. Name of Accounting officer who has to sign the form PBC2.
    e. Certified copies of Accounting officer’s qualifications.
    f. Business address.
    g. State the main object of the PBC.

    Can one upgrade a PBC to a PLC?

    Yes, it is possible to upgrade using the same name.

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