FAQ

Here are some Frequently Asked Questions about or Business

1 to 5 options of a Company name
Main Objects of the Company
Company Physical Address and Email Address
Directors Details i.e Full name and surname. ID Numbers and Physical Address
Shareholders Details i.e Full name and surname. ID Numbers, Physical Address and Shareholding structure.

1 to 5 options of a Company name
Main Objects of the Company.
Company Physical Address.
Shareholders Details i.e Full name and surname. ID Numbers, Physical Address and Shareholding structure.

Company size
PBC company is ideal for Small Medium Enterprises/Start-ups (SMEs). On the other hand, a PLC is suitable for large businesses like multinational companies wishing to expand into Zimbabwe’s market. This does not limit you to register your business as a PLC even when your business is small or still starting

Number of shareholder(s)

A PBC restricts ownership from 1 to 20 shareholders and on the other hand, a PLC can incorporate 1 to a maximum of 50 shareholders.  Also, a company cannot be a member of a PBC.

Cost of operation

In terms of registration costs, a PLC becomes more expensive than a PBC. At the end of each accounting period every Private limited company is obliged to pay annual returns to the Registrar of Companies. A PBC is not mandated to submit any Annual Returns to the Registrar of Companies.

Document outcomes

Different types Certificates are awarded when you register as a PBC or PLC company.

With PBC you get a Statement & Certificate of Incorporation which summarizes all your company information on one paper. On the other hand, after registration, PLC documents are Certificate of Incorporation, CR6, CR5 and a copy of the Memorandum and Articles of Association.

 

The majority of companies registered in Zimbabwe are Private Limited Companies (PLC’s). This is the best form of Private Company which enables you to trade and is preferred by most Tender boards. Private Limited Companies provide limited liability protection i.e. the shareholders personal finances and property is protected should the company face any financial problems.

Alternatively, if you wish to start small and still benefit from limited liability, you may opt to register a Private Business Corporation.

It will take about 5 minutes to fill in our company registration online application form where you will fill in your new company’s information. We will conduct an online company name search to determine if any of your preferred company names are available for registration and the results will be available within 24 working hours. We will then prepare and forward the company documents to the registry for final registration which usually takes between 5-7 working days and might take more days depending on the workload at the company’s registry.

You will receive a certificate of incorporation, memorandum and articles of association, CR 5 (Former CR 6) – list of addresses and CR 6 (Former CR 14) list if directors and secretaries when you register a Private Limited Company. When you register a Private Business Corporation you will receive a certificate of incorporation and a statement of incorporation.

Yes. Sanctum Business Consultancy offers online company registration in Zimbabwe. Just fill in your company registration online form and we will contact you as soon as we receive the application.

We accept many forms of payment including bank transfer, swipe, EcoCash, One Money. For international payments we accept Western Union, World Remit and Mukuru.

You do not need a tax clearance start trading. However, the law requires that every company be tax complaint. Other companies will not do business with a company that does not have a tax clearance.

Income tax – tax levied on business income for individuals or companies or any other entities and it varies with their respective income or profits (taxable income).
PAYE (Employee tax)- a withholding tax charged on salaries ( income) payable to employees.
Value Added Tax- is an indirect tax on consumption, charged on the supply of taxable goods and services. It is levied on transactions rather than directly on income or profit, and is also levied on the importation of goods and services.
Presumptive tax (informal trader’s tax) – fixed rate of tax chargeable to selected sectors within the economy such as hair salons, bottle store owners etc.
Capital Gains Tax- paid when a person/ company sells an immovable property or marketable securities.
Withholding taxes- paid by the payer and may or may not be a final tax.
Is a tax clearance certificate the same as registration
A tax clearance certificate is issued to a tax payer that is tax compliant or up to date with their tax obligations.

Registration with ZIMRA can be done online and below are the steps to follow for online registration:

Step 1:

Type the address http://efiling.zimra.co.zw on your internet browser
Click Register and complete the details of the company on the form provided
Ensure that you provide the attachments as required therein
Click on “Submit” and a message will be immediately sent to your e-mail address§ Open the message in your e-mail and click on the URL in order to complete the registration process.
Step 2

Type the address http://efiling.zimra.co.zw on the internet browser
Click Login and enter your login details. Select the heading “I do not have a Business Partner Number” and Complete all the required information and submit the application
How do I get a Tax Clearance Certificate?
After registration logon to the ZIMRA e services portal and apply for a tax clearance by following the procedure below:

Click on “MANAGE SERVICES” and select “SUBMISSIONS”
Select “General Tax Clearance” and Click on “Submit”
Go to “My History”, select “My Submissions” and check status
If status says “Committed”, click on “View Document” and print the tax clearance.
If the status says “Failed” then contact ZIMRA office for assistance.

It is an obligation for every income generating business to be registered with ZIMRA and have a tax clearance as an indication that their tax affairs are up to date. Banks are obliged to ask their clients for any documents they need including the Tax Clearance certificate.

Advise the person that they are supposed to issue you with a withholding tax certificate to enable you to have proof of the withholding tax. If the person is not sure ask them to consult ZIMRA for clarification.

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