Main Characteristics and the basic rules of Company registration in Zimbabwe
Business expansion plans are among the priorities ambitious entrepreneurs have and they adopt various measures to implement such plans. If you want to take your existing venture to a new country- there are many choices. However, you need not always opt for the big countries with flourishing economy. Zimbabwe may not seem a great choice for business investment at first mention, but you may actually consider it for the purpose. Pushing aside the past of economic turmoil and political upheaval, the country is emerging as a choice for investors seeking newer regions for venture expansion.
The recent developments in Zimbabwe are being deemed as ideal for attracting foreign investors. The rate of unemployment and poverty is not as extreme as it used to be even a few years back and signs of economic recovery are evident. You can seek our expert consultancy services on Zimbabwe Company Formation.
The transport and telecommunication setup in the country are improving with time. The road network development has reached a peak. The rail network is also being developed. However, cellular connectivity needs improvement. The latest govt moves are expected to improve this and that can attract more foreign investors.
The good thing about business setup in Zimbabwe is that it has higher literacy rates than adjacent countries of Africa. So, you will not have to worry much about finding educated and skilled manpower for business needs.
The Zimbabwean government is going to review indigenization policy to woo more potential investors. A number of mining companies have made investments in the country. You may also think of investing in the country even if your venture does not deal with minerals and mining. The tourism sector is where companies can think of investing in. There are several niches that are yet to be explored. In this regard, seeking our Zimbabwe Company Formation service can be ideal for you.
The challenges that need to be addressed are the time required for setting up business in the country and some areas in law that need clarity. The Telecommunication setup can be improved further to encourage more investments.
Despite the existing problems, Zimbabwe has every potential to emerge as a business expansion destination. You should seek services of expert consultancy agencies to iron out the hurdles on your way. Contact the BRIS group today and make the process of business formation in Zimbabwe smoother. Our Zimbabwe Company Formation service is exactly what you need.
|Zimbabwe Company Formation||Financial Advantages|
|Double Taxation Treaty Access:||Yes Treaty Access with many countries|
|Zimbabwe Tax Information Exchange Agreements:||Yes, Zimbabwe signs Exchange Agreements|
|Account Filing Requirements:||Yes accounting or reporting requirements|
|Annual Return Filing Requirements:||Yes annual return/ reporting requirements|
|Audit Requirements:||No audit required|
|Zimbabwe Company Formation||Registration Requirements|
|Share Capital:||Standard authorised share capital: $100 Minimum paid up share capital: None|
|Classes of Share Available for Zimbabwe company formation:||Registered shares, bearer shares, shares of no par value, preference shares, redeemable shares and shares with or without voting rights are permitted.|
|Bearer Shares:||Not Allowed|
|Registered Office Required:||Yes, required and must be maintained in Zimbabwe|
|Shareholders:||Minimum number is one|
|Directors:||Minimum number is two. Can be any nationality and need not be resident in Zimbabwe. Corporate directors are allowed.|
|Your Company language:||English|
|Name of your Company must be ended:||Ltd, Limited|
|Documents required for Zimbabwe company formation:||A certified copy of your passport or ID and proof of your residential address dated less than 3 months.|
|Zimbabwe Company Formation||Restrictions|
|For Zimbabwe company formation you cannot use words in your company names without justification:||“Bank”, “Trustee Company”, “Assurance”, “Building Society”, ”Trust Company”, “Royal” etc.|
|Restrictions on Trading:||No trade restrictions|
|Not permitted without a licence:||Fund management, insurance, Banking, reinsurance, assurance, trust management, collective investment schemes, trusteeship business provision.|
|Zimbabwe Company Formation||Confidentiality and Security|
|Publicly Accessible Records:||No public register of company officers (Directors, Shareholders, Secretary)|
|Nominee Shareholders and Nominee Directors:||Yes, Allowed|
|Disclosure of Beneficial Ownership to Authorities:||No|
|Meetings of Directors and Shareholders to be held:||Anywhere|
|Stability:||Great reputation stable popular jurisdiction.|
|Region:||In southern Africa|
|Political System:||Parliamentary republic|
|Governing corporate legislation:||Companies Act 2008|
|Type of Law:||Common & Civil mixed|
|Currency:||United States Dollar, Euro, Botswana pula, UK £, South African rand|
|Language of Legislation and Corporate Documents:||English|
This publication is provided for information purposes only. This info should not be treated as a substitute for a tax or legal consultation or legislation. You should not act on the basis of the information contained in this publication without having obtained individual advice from the professional expert.
BRIS GROUP does not assume responsibility for any damage resulting from decisions made by the reader on the basis of this publication.