In order to register as a company in Zimbabwe, there are certain requirements that must be met. Find out what they are here! Registering your enterprise comes with many benefits that include limited liability of owners and the company, taxation, access to financing, and partners among many others. You have an option to register your company as a Private Limited (PLC) or as a Private Business Corporation (PBC). The PBC is meant for small businesses and it should have at least one director the PLC is meant for medium to large businesses and must have 2 to 50 shareholders. The registration is now guided by the new act, Companies, and Other Business Entities Act.
The first step in starting up a new business is to register your company. This is done by submitting an application form to Companies Offices. You will need to provide information about yourself, your business, and any employees you have. Once you have submitted the application, you will receive a confirmation email which contains all the necessary details.
What you need to register your business
- Up to 5 names of choice for your business (preferably arrange the in order of choice)
- Particulars and full information of the shareholders ( Full names and addresses o the shareholders)
- Main objectives of the business (what will the business be focused on)
- The physical and postal address from which the business will be operating.
- The directors and company secretary’s information (one of the directors must be a Zimbabwean and still the shareholders can be the directors again)
The Registration Process
The Name of The Company Must Be Unique
Visit www.zimeservices.pfms.gov.zw then register yourself (Your ID Number will be your username. Submit your preferred names for the company for the name search process.
Make your payment online and a CV4 form will be sent to you or you can collect it from the companies registries’ offices. The CV4 confirms name reservation or rejection of the name.
There Must At Least Be Two Directors
Now it is time to prepare your documents and submit them. You need to prepare documents such as the Memorandum & Articles of Association which has to be submitted together with the CR5 and CR6 forms. The CR5 form contains the physical, postal, email address of the company. The CR6 form has the directors and company secretary with their particulars. The company secretary must be 16 years or older and be ordinarily a resident of Zimbabwe and must not have been previously disqualified as a company secretary.
A memorandum of association lists the objectives of the company, its nominal share capital, the name (s) of the founding members with their shareholding, and their agreement to become members of the company.
Articles of association form a documents that contain all the norms and regulations of the company. It can include things like handling of financial records, share capital, provisions on shareholder’s meetings, organization of the company, etc.
Certificate of Incorporation
Now after payment and approval of your submission to the companies registries office, you will be issued a certificate of incorporation. Your documents will be ready for submission.
All the best in your registration, this is best done with a consultant (who must be registered with the Deeds, Companies, and Intellectual Property (DCIP) department.
