Everything You Need To Know About Company Registration In Zimbabwe
Zimbabwe is a country located in southern Africa and is known for its rich natural resources, diverse culture, and potential for economic growth.
If you are interested in starting a business in Zimbabwe, the first step is to register your company. In this article, we will provide you with a brief guide on how to register a company in Zimbabwe.
Choose A Company Name
The first step in registering a company in Zimbabwe is to choose a unique and appropriate name for your company. The name should not be similar or identical to any existing company name in Zimbabwe.
The name should also not contain any offensive or sensitive words. Once you have chosen a name, you can reserve it with the Registrar of Companies.
Determine The Type Of Company
The next step is to determine the type of company you want to register.
In Zimbabwe, there are four types of companies: private limited companies, public limited companies, partnerships, and sole proprietorships. Each type of company has its own legal structure, requirements, and benefits.
Private Limited Company
A private limited company is a type of business entity in “private” ownership used in many jurisdictions, in contrast to a publicly listed company.
It is a company whose shares are not listed on a stock exchange, has limited liability, and has a separate legal identity from the owners. Because they are not listed on a stock exchange, their shares are not traded to the general public.
Public Limited Company
A public limited company is a form of business organisation that operates as a separate legal entity from its owners. It is formed and owned by shareholders.
Shares of a public limited company are listed and traded on a stock exchange market freely. A public limited company can offer shares to the public.
A partnership is a legal relationship that is most often formed by a written agreement between two or more individuals or companies. The partners invest their money in the business, and each partner benefits from any profits and sustains part of any losses.
The partners share the ownership and profits, but they also share the work, responsibility, and potential losses. There are different types of partnerships, including general partnerships, limited partnerships, and limited liability partnerships.
A proprietorship is a type of business organisation that is owned and run by one person and in which there is no legal distinction between the owner and the business entity. The owner is responsible for all risks and benefits from all profits or losses.
A proprietorship is an unincorporated business that does not have to be registered with the state. Anyone can establish a proprietorship, and in many cases, it doesn’t even involve any paperwork
Prepare The Necessary Documents
To register your company in Zimbabwe, you will need to prepare the following documents:
- Memorandum of Association
- Articles of Association
- Notice of Registered Office
- Consent to Act as a Director
- Form CR6 (director’s details)
- Form CR14 (company secretary’s details)
Register With The Registrar Of Companies
Once you have prepared all the necessary documents, you can then submit them to the Registrar of Companies at the Deeds, Companies and Intellectual Property office located at:
38 East Nelson Mandela Avenue,
Phone: +263 242 777373 or 775545-6
You will also need to pay the registration fee, which varies depending on the type of company you are registering According to Companies Formation, they register companies from US$65 to US$130 for a Private Business Corporation and from US$120 to US$195 for a Private Limited Company.
Obtain A Business License
After registering your company, you will need to obtain a business license from the relevant authorities in Zimbabwe. The requirements and procedures for obtaining a business license vary depending on the type of business you are operating.
Registering a company in Zimbabwe can be a straightforward process as long as you follow the necessary steps and requirements.
It is important to note that the process may take several weeks or months, so it is recommended to start early and seek professional advice if needed. By registering your company in Zimbabwe, you can take advantage of the country’s potential for economic growth and contribute to its development.