COUNTRY: | ZIMBABWE |
QUESTION: | ANSWER: |
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– Registering a company with a share capital of up to $2 000.00. The amount payable to the Registrar of Deeds will be $140.00. If Share Capital is above $2 000.00 the amount payable to the Registrar of Companies will be 5% of the difference. – The capital may be contributed by among others subscribers for shares and it are referred to variously as nominal or authorised share capital. – Act requires such a company to state the amount of share capital which the company proposes to be registered with and the division of that share capital into shares of fixed amounts. – The nominal share capital and share value are fixed arbitrarily.
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– As a general rule, Shareholders are not liable for debts incurred by the company |
| Infants, lunatics, aliens or directors of other companies may be disqualified by the articles but where they are not silent are not disqualified. |
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– The process takes fourteen (14) working days, although in urgent situations, one can purchase a pre-registered shelf company then amend the details of the company at a later stage. |
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– Name search $5, – Articles and Memorandum of Association $100 or part thereof of the nominal/authorized capital of the company with a minimum fee of US$100.00 – CR14 $20 – Certificate of incorporation $20
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– US$400.00 |
| – The Registrar of Deeds must be advised on any changes – The company has to register with the Zimbabwe Revenue Authority (ZIMRA); – National Social Security Authority – Manpower Development Fund – City Health Department – Newspaper – Licensing Office with Local Authority
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| – Auditor position is not mandatory where such company has no more than 10 members, – is not a subsidiary of a holding company which has itself appointed auditors and – all the members in such company agree that an auditor shall not be appointed. |