How To Register A Small Company In Zambia
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. The maximum number of partners for a business operating as a business name is 10 individuals.
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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.
How to register a small company in zambia. THE INVESTMENT LICENSE The Zambia Development Act No. NAME CLEARANCE LOCAL COMPANY BUSINESS NAME TAX CLEARANCE. The Patents and Companies Registration Agency PACRA is a semi-autonomous executive agency of the Zambian Ministry of Commerce Trade and Industry.
This is a costly service to set up so register your business and start with your car in your city. Find detailed requirements to operate a business in Zambia. If you enjoy exploring different places then a courier business could be a good fit for you.
With growing number of jobless youths in Zambia entrepreneurship is the way to go. A business name is the name your business operates under. You will definitely need some form of money to invest in order to start up a business or company.
Patents and Company Registration Agency Browse More Licenses. One of the easiest and quickest ways to start running a business in Zambia is to register a business name. You can register a business name alone as a sole proprietor or with partners.
You can target business people advertising on Facebook. There are a number of small and profitable businesses individuals can venture in to make both ends meet. Zambia is a growing economy with huge potential of having significant number of entreperneursThese people will however create wealth through small businesses.
Anyone wishing to start their own business must have these requirements. It has its own requirements. To register a sole proprietorship one needs to buy Business Name Form number 111BN Form 111 which is a form designed for individuals registering businesses.
11 of 2006 provides for investment incentives and investment guarantees. Market your services to small businesses. The Zambian public limited company Public company Setting up a Zambia PLC requires at least 2 shareholders and 2 directors of any nationality.
The Act is supplemented by subsidiary legislation Statutory Instruments which stipulate feesforms and detailed procedures The. TPIN REGISTRATION CUSTOMS AND EXCISE. You can either generate this by saving or acquiring a low interest loan.
Once the registration of a company is successfully done at the Patents and Companies Registration Agency PACRA one needs to register with ZRA for a tax payer identification number TPIN No The TPIN number is then used to register for the various taxes applicable to the specific type and nature of the registered business. The WHT rate for management and consultancy fees for non-residents is 20 and is the final tax. The documentation requirement may be obtained from the Office of the Registrar of Companies.
Like for an LLC one of the directors must however be resident in Zambia. A It should be noted that Withholding Tax is deductible from a payee who is not in business in Zambia but renders a service to a person carrying on business in Zambia. 0 NAME CLEARANCE 11 A company intending to apply to operate as a microfinance institution shall be.
Starting a business is not as easy as it looks. Business Start Up Procedure. Individual or firm with a place of business in Zambia and carrying on business under a business name to be registered with PACRA s 4.
The Companys Act allows foreign companies to register with the Registrar of Companies within 28 days of setting up or acquiring an established place of business. It will cost ZMW 70700 or USD 7326 and will take two days. Development Bank of Zambia and National Savings and Credit Bank The licensing requirements may vary slightly depending on the category of financial institution.
Registration with the Securities Exchange Commission The first step would be for the company to convert to a public company and then to file in a registration statement accompanied with an application letter sent through a Designated Advisor DA. The minimum share capital required to incorporate the PLC is US10000.
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