Requirements for company for local and foreign company
At least 3 to 5 names proposed names
A type of business(private limited, Private , Business cooperation, Trust, Coperate….)
Physical and postal address for the business
Members interest/share
The full names and id numbers
Objectives of the company
Private limited company
A private limited company is a type of business entity that is commonly used in many
countries around the world. It is a separate legal entity from its owners, who are known as
shareholders. The shareholders have limited liability, which means that they are only
responsible for the company’s debts up to the amount of their investment in the company.
Private limited companies are typically smaller than public limited companies, which are
listed on stock exchanges and can be publicly traded.
One of the main advantages of a private limited company is that it provides its owners with
limited liability protection. This means that if the company goes bankrupt, the shareholders
will not be personally liable for its debts. Instead, their liability is limited to the amount of
their investment in the company.
Documents you receive after registration
Certificate of incorporation
Summary entity document previously( cr5,cr6,articles and memorandum of association)
Price $120
PRIVATE BUSINESS COPERATION
A private business cooperation is typically owned and operated by a small group of
individuals who keep their financial information private and it can also accommodate sole
traders.
The taxes a PBC is liable for are the same with a PLC. A PBC must register with ZIMRA and
pay Income Tax on any profits they make. They are also liable to pay VAT once they reach
the minimum VAT threshold and the members and employees are liable for PAYE.
Price $80
Steps Involved in Foreign Company Registration
Determine the Type of Business Entity
Choose a Business Name
Obtain Necessary Licenses and Permit
Open a Local Bank Account
Register for Taxes
Obtain Visas and Work Permits
Click here to register your Company
NATIONAL SOCIAL SECURITY AUTHORITY
(NSSA) Registration and returns
It is legally mandated that all employers register with the National Social Security
Authority.Therefore registration enables, Compliance with Zimbabwe’s social security law,
Employee benefits in the event of injury or death at work, Employee pension benefits upon
retirement.
Requirements for NSSA registration
Company Documents
Bank statement
Directors and employee contact details
Price $50
Click here to register for NSSA
Procurement Regulatory Association of Zimbabwe PRAZ / PRAZ renewal
Registering for PRAZ makes you eligible to bid on public contracts and to supply the
government, as well as any organisations or agencies under its jurisdiction.
Requirements for PRAZ registration
Company registration documents
Company profile
Contact details
Bank statement
Price
Qaurter $45
Yearly $140
click here to register for PRAZ
Vendor Number Registration and Renewal
A vendor number is a unique number assigned to a business and is for companies that wish to
do business with government.
Vendor number Requirements
Company registration documents
Tax certificate
Copies of directors id
Bank statement
Price $
Initial registration $180
Renewal $130
click here to register for vendor number
Tax registration / renewal $50
TAX REGISTRATION / TAX RENEWAL / TAX CERTIFICATE
It’s not just a formality to register your business for taxes; it’s required by law. There may be
harsh repercussions for noncompliance, including as fines, penalties, and even legal action.
This is why it is so important. By law, everyone doing business in Zimbabwe must provide
information and returns. They also have an obligation to keep accurate books of accounts and
records of all company transactions.
Types of tax Heads/revenue heads
Pay as you earn (PAYE)
Income tax
Mining Royalties
Capital Gains tax (CGT
Surtax
Exercise duty
Value Added tax (VAT)
Requirements to register tax in Zimbabwe
Company documents
Name of Bank that you want to use
PRICE
Tax registration / renewal $50