Category Companies

Company Registration in Zimbabwe

Zimbabwe’s economy is SME and Micro driven businesses driven. For any business to be poised for growth and expansion, it requires formalization in order to attract meaningful business and investment.

Sabarm Business Solutions offers competent, efficient and excellent Company Secretarial Services in Zimbabwe. To date we have registered over two thousand companies and we take pleasure in the feedback we have been getting over the period of time we have been in business which has been fulfilling. Our turnaround time for company registration service has over the years remained at an average of three (3) working days.

Company Registration/ Incorporation is one of foundations of a successful business and as such should be done with the highest degree of competency in accordance with the laws and regulations of the jurisdiction in which the company is being incorporated. We are a company that one can entrust with their company secretarial work as our team is well knowledgeable with the laws that govern company incorporation and is capable to efficiently execute and effectively/ competently do so.

There are two types of companies that one can register, which are a Private Limited and a Private Business Corporation (PBC). The Private Business Corporation was introduced to have all businesses at least formalised as it requires a leaner budget to register as compared to a Private Limited. A PBC can also be registered by a sole trader as it can be registered by a single member.

Other Company Secretarial Statutory Requirement Services

When a company is registered in Zimbabwe, the law requires that Annual Returns (AR) be filed with the office of the Registrar of Companies annually. These are meant to furnish the Registrar with information regarding developments within the company. This is a requirement which most companies fail to comply with mainly because they just don’t know about it but failure to do is costly in late submission penalties and can result in a company being struck off the Registrar’s register.

Why a Business must be Formalised

Registering your business as either Private Limited or PBC have so many advantages that a listed below:

• Formalised business stands a much greater chance to win big orders from corporates or tenders from government owned enterprises
• A Registered Company will stand a chance to unlock loans and other funding from would be investors/ partners
• Government laws ordinarily respects and favours Registered Companies than informal traders
• Registered Companies are able to grow quicker than informal businesses

OUR SERVICES

• Company Registration
• Name search
• Preparation and filing of Annual Returns (AR)
• Change of Directors
• Mergers and acquisitions
• Allotment of shares
• Transfer of shares

Sabarm Business Solutions will take you through all stages and spare you both direct and indirect costs that comes with non-compliance of formalised businesses and of running an informal business.

Did you know that you can change your company if you no longer desire to use it for any reason. A company or private business corporation that wishes to change its name should first obtain the written approval from the Registrar. This is in terms of section 26 of the Companies and Other Business Entities Act Chapter [24:31]. The process is a bit lengthy but with the right professionals handling it for you its very easy. the following are the steps for changing the company name in terms of the Act.

Stages in change of company name

1. Get written  approval from the registrar for the change of name
2. The company  shall publish in the Gazette and in a daily newspaper circulating in the district in which the registered office of the company is situated an advertisement stating the change of name, and shall then apply for a certificate of change of name.
3. The Registrar’s office  shall enter the new name in the register in place of the former name.
4. Upon the application in writing of a registered business entity that has changed its name in terms of Section 26 of the Act and on production of the certificate of change of name, a Registrar of Deeds or mining commissioner, or other officer responsible for the registration of deeds or mining titles, shall make such alterations in his or her registers and on any title deeds and other documents evidencing title as may be necessary as a result of the changed name.

The change of company name does not affect any right or obligation of the registered business entity, or render defective any legal proceedings by or against the entity, and any legal proceedings that might have been continued or commenced by or against it under its former name may be continued or commenced under its new name. You therefore  do not lose any rights or property, neither can you evade your creditors by changing the name of the company.

Debunking Company re-registration

Did you know that all companies registered before 22 February 2020 are required by law to be re-registered in line with the new Companies and Other Business Entities Act ?

what is required for company re-registration

For company re-registration, a company has to be up to date with its annual returns. Annual returns are a statutory obligation in terms of the companies and other business entities Act and are filed every year with the registrar’s office. These are not to be confused with tax returns which are filed with the Zimbabwe Revenue Authority.