The Legislation governing Company Registration in Zimbabwe?

Companies and Other Business Entities Act [CHAPTER 24:31] oversees the company registration in Zimbabwe. Section 5 of the Act states that the following types of business entities are;

Registrable business entities.

Registrable business entities
(1) The following types of business entities are registrable under this Act—
(a) a public limited company;
(b) a private limited company;
(c) a company limited by guarantee;
(d) a co-operative company;
(e) a foreign company;
(f) a private business corporation;
(g) subject to section 278 (“Voluntary registration of partnership agreements, etc.”), partnerships, syndicates, joint ventures and certain associations of persons.

For the mean time we will articulate on company registration of a Private Business Corporation (PBC) and Private Limited Company (PLC).

Requirements for company registration as a Private Business Registration (PBC).

• 1 to 5 proposed names for your Private Business Corporation, these need to be submitted in order of preference. The names should be provided via the link, https://lucent.co.zw/register-pbc/ with the most preferred on first option and least preferred as the last option.
• The object of the business. It is business pursuing motive, or what the business will be focused on.
• The full names and ID numbers of between 1 to 20 members. These will serve as the owners, shareholders and directors of the Private Business Corporation.
• Each members interest or stake or share in the PBC. The total interest of all the members combined must add up to 100%.
• The physical and postal address of the business.
• Date of financial year end. This is the date when you close your financial accounts for your business.
• Each member of the PBC must sign the Incorporation Statement before the Registrar affixes his seal, stamp and signature.
• At least one Zimbabwean as part of the PBC members.

Requirements for company registration as a Private Limited Company (PLC).

• 1 to 5 proposed company names for your Private Limited Company, these need to be submitted in order of preference.
• The names should be provided via the link, https://lucent.co.zw/register-plc/ with the most preferred on first option and least preferred as the last option.
• The object of the business. It is business pursuing motive, or what the business will be focused on.
• The full names, ID numbers and addresses of the shareholders or owners of the Private Limited Company. Their details go on the Memorandum.
• The full names, ID numbers and addresses of the directors (between 2 to 50 directors are needed). Their details go on the CR6 (former CR14).
• The issued shared capital of the company.
• The number of shares issued to each shareholder.
• Physical and postal address of the business.
• The signature of each shareholder of the Private Limited Company is needed on the Memorandum & Articles of Association, and 1 Director or company secretary must sign the CR5 (former CR6) and CR6 (former CR14).
• At least one Zimbabwean as part of the company directors.