Published
Sep 4, 2023
Updates:
Dec 3, 2024
Zimbabwe
The country is under sanctions by the United Nation’s Security Council and/or the UK Government. Currently B2B Hub is not providing legal and financial services for the present country.
Price:
Delivery:
Legal forms:
Payment methods:
3 months
Sorry, I don't understand your question. Please rephrase it.
Document checklist:
1.Passport
2.Proof of Residence
Requirements:
Local legal address (Handled by B2B Hub)
Zimbabwe
$
3000
.png)
Registrar
Abbreviation
Phone
Companies and Intellectual Property Office of Zimbabwe
CIPZ
+263242773443
Location
Capital
Official languages
Population
Currency
ISO 4217
Harare
Zimbabwe
English, Shona, Ndebele
16,665,409
ZWL
Zimbabwean Dollar
Delivery
-
Certificate of incorporation
-
Articles of association
-
Meeting minutes
-
Company stamp
Certificate of incorporation
Company stamp (By stempil.com)
Registration documents and guidance
FAQ for company formation in Zimbabwe
FAQ for Company Formation in Zimbabwe
Q: What are the different types of companies that can be formed in Zimbabwe?
A: The types of companies that can be formed in Zimbabwe are Private Limited Companies, Public Limited Companies, Partnerships, and Sole Proprietorships.
Q: What is a Private Limited Company (PLC)?
A: A Private Limited Company (PLC) is a company that has a separate legal entity from its owners, and its shareholders have limited liability for the company's debts. A PLC can have up to 50 shareholders, and it is not allowed to issue shares to the public.
Q: What is a Public Limited Company (PLC)?
A: A Public Limited Company (PLC) is a company that is allowed to issue shares to the public and is required to have at least two directors. Shareholders have limited liability for the company's debts.
Q: What is a Partnership?
A: A Partnership is a business that is owned by two or more people who share the profits and losses of the business. The partners have unlimited liability for the debts of the business.
Q: What is a Sole Proprietorship?
A: A Sole Proprietorship is a business that is owned and operated by one person who has unlimited liability for the debts of the business.
Q: What are the steps to form a company in Zimbabwe?
A: The steps to form a company in Zimbabwe are as follows:
1. Reserve a company name with the Registrar of Companies.
2. Prepare the company's Memorandum and Articles of Association.
3. Register the company with the Registrar of Companies.
4. Obtain a tax clearance certificate from the Zimbabwe Revenue Authority.
5. Obtain any necessary licenses or permits.
Q: What are the requirements for registering a company in Zimbabwe?
A: The requirements for registering a company in Zimbabwe are:
1. At least one director who is a resident of Zimbabwe.
2. A minimum of two shareholders.
3. A registered office in Zimbabwe.
4. A Memorandum and Articles of Association.
5. Payment of the appropriate registration fees.
Q: What is the minimum share capital required to form a company in Zimbabwe?
A: There is no minimum share capital required to form a company in Zimbabwe.
Q: What are the taxes that companies need to pay in Zimbabwe?
A: Companies in Zimbabwe are required to pay corporate income tax, value-added tax (VAT), and withholding tax on certain payments made to non-residents.
Q: What are the benefits of incorporating a company in Zimbabwe?
A: The benefits of incorporating a company in Zimbabwe include limited liability protection for shareholders, a separate legal entity from its owners, and access to financing opportunities. Additionally, Zimbabwe has a stable economy, a skilled workforce, and a business-friendly environment that makes it an attractive destination for investors.
"Zimbabwe's economy has been struggling in recent years, with the World Bank estimating that the country's GDP per capita was only $1,077 in 2019. This is a significant decrease from the $1,821 GDP per capita in 2017. The country's unemployment rate is also high, with the International Labour Organization estimating that it was at 94.5% in 2019. Inflation has also been a major issue, with the International Monetary Fund estimating that it was at 786.5% in 2019.
The country's economic outlook is not particularly optimistic, with the World Bank predicting that the economy will contract by 6.5% in 2020. This is due to the effects of the COVID-19 pandemic, as well as the country's ongoing political and economic instability. The World Bank also estimates that poverty levels will increase, with the poverty headcount ratio expected to reach 66.7% in 2020.
Despite the difficult economic situation, the government of Zimbabwe has taken steps to improve the country's economic outlook. In 2019, the government implemented a new currency, the Zimbabwean dollar, which has helped to stabilize the economy. The government has also implemented a number of reforms, such as the Zimbabwe Investment and Development Agency, which is aimed at attracting foreign investment.
Overall, Zimbabwe's economy is in a difficult situation, but the government is taking steps to improve the country's economic outlook."
In Zimbabwe, both corporate and personal income are taxed. The corporate income tax rate is 24% for resident companies and 20% for non-resident companies. Personal income tax rates are progressive, ranging from 0% to 40%. There are also value-added tax (VAT), capital gains tax, and withholding tax on certain types of income.
The process of tax payment in Zimbabwe involves the submission of tax returns and payment of taxes to the Zimbabwe Revenue Authority (ZIMRA). Tax returns are usually due on the 30th of April for individuals and the 30th of June for companies. The tax year runs from 1st January to 31st December.
Employers are required to withhold taxes from their employees' salaries and remit them to ZIMRA on a monthly basis. In addition, companies and individuals are required to make provisional tax payments twice a year, with the first payment due by the 30th of June and the second by the 31st of December.
Late payment of taxes may attract penalties and interest, while failure to pay taxes altogether may result in legal action by ZIMRA. It is important for taxpayers to comply with their tax obligations and submit their returns on time to avoid penalties and other consequences.
Application without registration
The first director
The second director
The third director
The first shareholder
The second shareholder
The third shareholder
Articles
<txtStatus>
<txtSaving>
Please complete the form with attention to detail. Once submitted, our team will review the information. Following this, you will receive a confirmation and an invoice via email.