What is company registration in Zimbabwe?
Company registration in Zimbabwe is the process of incorporating a company with the Deeds Companies & Intellectual Property (DCIP). The DCIP is the regulating body that regulates the incorporation of companies in Zimbabwe.
Advantages of registering a company in Zimbabwe
- It has a distinct legal identity separate from its owners.
- The liability of the shareholders is limited to the amount they invested in purchasing its shares.
- Tax advantages.
- Professional image.
- Better financing options.
- Protected business name
Advantages of company registration in Zimbabwe
- Access to finance through Zimbabwean banks and government grants.
- Access to highly qualified human labour.
Types of companies you can register in Zimbabwe
The two most common companies registered in Zimbabwe is the Private Limited Company (PLC) and Private Business Corporation (PBC).
Advantages and disadvantages of a Private Limited Company
|Limited liability||Stringent compliance measures|
|Credibility and reputation||Strict code of conduct|
|Easy of entry|
Advantages and disadvantages of a Private Business Corporation (PBC)
|Cheaper to register||Only allows 3-5 business objectives|
|Credibility and reputation|
Requirements for company registration in Zimbabwe
- Company names
- Director: Need at least 2 directors one being ordinarily a resident of Zimbabwe. name, national identity number, nationality and address.
- Shareholders: Minimum of 1 and a maximum of 50 shareholders
- Company addresses: You need a local company physical address, postal and email address
- Company Secretary information – name, national identity number, nationality and address.
- Business objectives – the business activities of the company.
Procedure for company registration in Zimbabwe
Step 1: Getting Companies Registry Approval for Your Company Name
You start registering a new company by getting a company name approved by the Companies Registry. You should consider that your proposed company names might be rejected if the name is:
- identical to that under which another company or private business corporation is already registered
- likely to deceive
- likely to mislead the public
- blasphemous or indecent or likely to cause offence to any person or class of persons
- suggests patronage of the Government or some other authority or organisation unless the consent thereof has been obtained
Once the company name is approved, it will be automatically reserved for you for 30 days from the date of approval. If you cannot incorporate your company within this period, we can request the Companies Registry for an extension of another 30 by conducting a further name reservation.
Step 2: Prepare Company Registration Documents
- Memorandum and articles of association
- CR 5 (Former CR 6)
- CR 6 (Former CR 14)
Step 3: File company documents with the registrar of companies
File the memorandum and articles of association, CR 5 and CR 6 with the Registrar of Companies.
Company registration Frequently asked questions
What documents do I receive if I register a company in Zimbabwe?
The documents you receive depend on the company structure you have chosen to incorporate. A PBC has a different set of documents to a PLC. If you incorporate a PBC you will receive;
- Certificate of Incorporation – a legal document issued by the registrar of companies as proof that a company has been legally registered in Zimbabwe.
- Statement of incorporation – contains the name and number of the PBC, physical and postal address, the PBC’s objectives, number of members, the accounting officer’s information and the members information i.e. their names, national identity number and their percentage holding in the PBC.
If you incorporate a PLC you will receive;
- Certificate of incorporation
- CR 5 – List of company addresses i.e. physical address, postal address and email addresses.
- CR 6 – List of company directors, principal officer and secretaries i.e. their names, national identity number, nationality, business or postal address and any other directorship or secretarial.
- Memorandum and Articles of Association – this sets out the business objectives of the company, the shareholders and the rules and regulations of the company.
Can I register a company in Zimbabwe on my own?
No you can’t. Company registration in Zimbabwe is only done through a registered agent/consultant or a registered practising lawyer registered with the Deeds, Companies and Intellectual Property (DCIP).
Since you can’t register a company as an individual, what are some of the best company registration agents in Zimbabwe?
Here at SCFS we don’t recommend company registration agents for the sake of recommending. We recommend company registration agents who we have worked with and they have proved themselves to be the best in the industry. Some of the company registration agents we have worked with include:
- Zimbabwe Companies Registry – one of the first company registration agents in Zimbabwe. They have affordable company registration packages.
- Company Formations
- Register Your Company
- Companies Made Simple
- Companies Made Easy
We have also partnered with Shelf Companies to provide an excellent shelf company service.
Can I register a company in Zimbabwe if I am not a Zimbabwean resident
Yes you can register a company if you are a non Zimbabwean resident. The only sticking requirements are that you need to have at least one director who is ordinarily a resident of Zimbabwe and a Zimbabwean physical address. If you do not have any or all of these two requirements, you don’t have to worry, most of the company registration agents listed above provide non-resident packages that will allow you to register a company in Zimbabwe even if you don’t have those two requirements.
How much does it cost to register a company in Zimbabwe?
It depends with consultant you choose to register your company with. However, generally most company registration agents charge from as little as US$130.00 to register a Private Limited Company and US$70 to register a Private Business Corporation.
What else do I need after registering a company
- Open a bank account
- Get a tax clearance from the Zimbabwe Revenue Authority (ZIMRA)
- Get a business license from local authorities
- Register with National Social Security Authority (NSSA)
- Register with the National Employment Council (NEC)