How Much Does It Cost To Register A Company In Zambia
Nationals can incorporate a company under the Companys Act and register the company with the Registrar of Companies within 28 days of setting up or acquiring an established place of business. You can register a business name alone as a sole proprietor or with partners.
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This business entity has the capacity to venture into any type of business in Zambia including banking and financial services.
How much does it cost to register a company in zambia. A business name is the name your business operates under. It will cost ZMW 70700 or USD 7326 and will take two days. Registration of a Company ZMK US Private Company with Minimum Nominal Capital of K5000 Registration Fee 25 percent of Minimum.
Zambia other than a business visitor. Cost of living and prices in Zambia prices of food rent shopping etc. The Registration of Business Names Act makes mandatory for every individual or firm with a place of business in Zambia and carrying on business under a business name to.
The source of income and residence are the basis for. The minimum share capital of a company is K5000000. The law requires that half the directors of the company be resident in Zambia.
Registration of Foreign Company. Registration of Company Limited by Guarantee. Defensive Names Name Reservation.
2374a Thabo Mbeki Road Lusaka membershipzicacozm educationzicacozm 260 211 374 550-9 260 211 255 355 Fax. Registration of mortgage debenture or other charges - 1 of the amount borrowed but in no case shall the fees be more than 15000 fee units. In the case of ordinary or business visitors the start is the date of first entry into Zambia in the last 12.
A Zambian PLC is recommended for entrepreneurs looking. The Companys Act allows foreign companies to register. The fees for Company Registration are as follows.
All partners are required to include their full income from the partnership in their personal tax returns IT 12 available from the Receiver of Revenue this only carries the cost of postage some banks offer assistance with the completion of this form free of charge as a customer service. Ownership management structure or directors. The minimum share capital required to incorporate the PLC is US10000.
Accountants Park Plot No. Bordered by Angola Botswana Congo Malawi Mozambique Namibia Tanzania ZimbabweZambia covers an area of 752614 square kilometres. Business is carried on whether in partnership or otherwise other than the true names of an individual.
If you are coming to set up a new business in Zambia you will be required to have a local address and at least one local Zambian representative in your share structure and he or she must have either an equal or higher share percentageThen will go ahead and register with Zambia revenue authority and NAPSA. Zambia Institute of Estate Agents was established under Act 21 of 2000 of the laws of Zambia with responsibility of regulating the practice and Business of Estate Agency in Zambia. The fees for Company Registration are as follows.
The maximum number of partners for a business operating as a business name is 10 individuals. In most cases the total cost to register your business will be less than 300 but fees vary depending on your state and business structure. Updated Apr 2021 Zambia is country located in Eastern Africa.
Nationals can incorporate a company under the Companys Act and register the company with the Registrar of Companies within 28 days of setting up or acquiring an established place of business. Period of 12 months does not mean a calendar but rather a year. The Patents and Companies Registration Agency PACRA is a semi-autonomous executive agency of the Zambian Ministry of Commerce Trade and Industry.
All companies are required to submit annual returns with the Registrar of Companies within three months after the end of the financial year or one month after the Annual General Meeting if it is held within three months after the financial year. Tax Registration and Types of Tax in ZambiaThe Ministry of Financeis responsible for the formulation of tax policy in Zambia and the implementing agency is the Zambia Revenue Authority ZRAThe legislative frame work relating to the regulation and administration of the taxation is provided for in the IncomeTaxAct1966as amended. The information youll need typically includes.
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. One of the easiest and quickest ways to start running a business in Zambia is to register a business name. We are very excited as we enter the New Year and look forward with great anticipation to a productive and fruitful year.
While a calendar year begins on 1st January and ends on 31st December a year is simply a 12 month period whose start date can vary. DESCRIPTION FEES PAYABLE Registration of Company ZMW US Private Company -Minimum Nominal Capital - ZMW1500000 Stamp Duty. A company registration may vary between R125 and R475 R125 for a private company R475 for a non-profit company registered without members.
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