How To Register A Private Limited Company In Zambia
The minimum share capital required when incorporating a Zambia private company limited by shares is ZMW15000 Approx. The Patents and Companies Registration Agency PACRA is a semi-autonomous executive agency of the Zambian Ministry of Commerce Trade and Industry.
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The Private Limited Company is known as a proprietary limited company abbreviated to Pty.
How to register a private limited company in zambia. The registration fees for a Private Limited Company with minimum capital of K10000 is K474. Applicants should fill in form 46 at a fee of K4166 A foreign company must at all times have at least one and not more than nine 9 individuals called local directors empowered and authorized to conduct and manage all the affairs properties. And b in any other case the prescribed rate of interest.
The latter can no longer be incorporated but existing CCs may continue to do business in South Africa. Any two or more persons can incorporate a company under the Companys Act. The registration form should be filled in duplicate accompanied with K80 fee which should be submitted to the Registrar of Companies.
Like for an LLC one of the directors must however be resident in Zambia. Select your jurisdiction eg. How to identify relevant licenses.
A PLC Private Limited Company accommodates all sizes of businesses from small to large enterprises. Its principal functions are to operate a legal system for registration and protection of commercial and industrial property and to serve as a legal depository of the information tendered for registration. Registration of a Business Name is governed by the Business Names Act No.
Registration is done at the Patents and Companies Registration Office. The Zambian public limited company Public company Setting up a Zambia PLC requires at least 2 shareholders and 2 directors of any nationality. Paid share for all money whether presently payable or not called or payable at a fixed time in respect of that share.
It require annual returns for a fee between 50 to 80. Healy Consultants Group incorporation team can complete the company incorporation process from A to Z on behalf of our Client without the directors or shareholders traveling to Zambia to sign forms. These Forms should be typewritten and may be accompanied by Articles of Association.
Types of Companies obtainable in Zambia. REGISTRATION LICENSES AND PERMITS COMPANY FORMATION AND REGISTRATION The Companys Act Cap 388 governs the registration of companies in Zambia. There are two types of Private Limited Liability entities in South Africa the Private Limited Company PTY and the Close Corporation CC.
US1000 to establish a private company limited by shares LLC in Zambia. Economy Profile of Zambia Doing Business 2020 Indicators in order of appearance in the document Starting a business Procedures time cost and paid-in minimum capital to start a limited liability company Dealing with construction permits Procedures time and cost to complete all formalities to build a warehouse and the quality control and safety. The government imposes a low minimum share capital requirement of ZMW15000 Approx.
Once the Registrar is satisfied with all the requirements including name clearance heshe then issues the certificate of registration as proof that a business has been legally registered. 16 of 2011 of the Laws of Zambia. To help most people to have an idea of what to do first when they want to start the process of the limited company registration in zambia.
Companies Form 2 Form 5 and Form 11. Business registration is done at the Patentsand Companies Registration Agency PACRA and takes three working daysThe registration procedure starts with Name Clearance. A if the company has by resolution fixed a raterate the so fixed.
1 The company has a first and paramount lien on every share not being a fully. Get Your Quote or Call. A private company limited by shares may be converted into an unlimited company if all its members agree in writing to its conversion.
Apply to a register of members kept in Zambia by a specified body corporate or class of bodies corporate incorporated under the law of a foreign country or countries. This is a branch of a company incorporated outside Zambia which is registered in Zambia. The law requires that the company appoint a local director who is resident in Zambia.
Another option would be to register a Private Limited Company PLC. An application for incorporation of Private Company Limited by shares consist of a set of the following. National X capital city Municipalities or Town councils followed by the industry in which your business operates.
The Companies Act provides that a foreign company may register a branch in Zambia. Businesses operating in Zambia are typically required to obtain one or more licenses and permits depending on the activities of their enterprise. No capital duty is imposed on the formation of the branch only a minimal branch registration fee.
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