This article will outline how to carry out company registration in Zimbabwe.
1.Name Search : First stage of Company Registration in Zimbabwe
This is the first stage when registering a company in Zimbabwe. You need a name for your company. The Chief Registrar of Companies allows you to register your company name and reserve it for sixty days. Once the name is reserved, the name cannot be used by any other individual who wishes to register a company also. This facilitates the company registration process.
For this stage of company registration in Zimbabwe, you fill a CR 21 Form. On the CR 21 form you list a maximum of 7 names, in order of preference. The reason behind listing many names is because some of your chosen names maybe rejected by the Registrar of Companies. All the documents you fill for company registration in Zimbabwe should be in duplicate. This means you fill 2 CR 21 forms. You will pay $5 when you submit the CR21 for processing at the Registrar of Companies. Usually within 3-5 days, your CR 21 would have been processed. There are 2 outcomes. All your names maybe rejected, or one of the names will be selected. If all your names are rejected then you should start the name search process again. If 1 of the names is accepted, you then move to the next stage of company registration. Reasons for the rejection of names include: misleading names, names closely related to existing company names etc.
Details required on the CR 21 Name Search Form
- Your name
- Maximum of 7 proposed names for the company
- Main objects or the main area of business focus for the company
- Names and Addresses of the directors of the company
- Address of the company (Where the company will be operating from)
When your name is accepted you are given what is called the CV 4. This document shows the name which has been accepted by the Registart of Companies.
2. Memorandum and Articles of Association
This is the next stage of company registration in Zimbabwe after your name for the company has been approved. You should file a Memorandum of Association (Articles of Incorporation) and Articles of Association with the Registrar of Companies. The memorandum of association lists the company’s name, its sphere of business, share capital details, the number of shares for each shareholder and a statement to the effect that liabilities of shareholders are limited. The Articles of Association regulates the company’s internal operations.
The memorandum of association will contain the total shares of the business, and the amount of shares each shareholder will have. This is an important document for your company registration in Zimbabwe. You company should have at least 2 shareholders. No minimum capital requirements are contained in the Companies Act. There are no limits on the amount of share capital your company can have. There is a fee to be paid at the Registrar of companies which is tied to the amount of share capital in your memorandum of association.
A fee of $5 in each $ 100 of authorised capital is payable with a set minimum of $100. Thus to cut costs most people register a company with $2000 capital contained in the memorandum of association. At $5 in each $100 authorised capital, this means the fee payable will be $100. This is the minimum amount payable at the Registrar of companies, irrespective of the share capital you have.
Take note that the issued share capital for your business cannot exceed the authorised capital. The minimum number of issued shares is two. The shareholders must specify the number of shares for which they undertake to subscribe in the Memorandum of Association. The minimum number of shares a shareholder can subscribe to is 1.
3. CR 6 and CR 14 Forms
The CR 6 and CR 14 Forms are needed for company registration in Zimbabwe. The CR6 states the physical and postal addresses of the company. The CR 14 form states the company’s directors and the company secretary/Principal Officer. A fee of $20 is payable. The 2 forms are submitted together with the Memorandum and Articles of Association.
4. Certificate of incorporation
This is the final stage of company registration in Zimbabwe. After your company has been registered, you are issued with a Certificate of Incorporation. It usually takes 4-7 working days after the submission of the Memorandum and Articles of Association for you to get the Certificate of Incorporation. A fee of $20 is payable for a certificate of incorporation.
5. Costs for Company Registration in Zimbabwe
If you are registering a company via consultants, they charge you from $200-$500 for the whole company registration process. If you are registering a company on you own you will pay
- Name Search-$5
- Memorandum and Articles of Association submission-$100
- CR 14 submission – $20
- Certificate of Incorporation – $20
Total – $145.
Registering a company on your own is suitable for a basic company with no complex legal requirements. If you have special provisions you want included then you will have to do it via consultants.
Zimbabwe Company Registration Manual And Templates
We have a manual that will guide you step by step in the process of registering your company in Zimbabwe. Sometimes when you are starting a business you will be bootstrapping and you will not have money to pay consultants, and you may opt to do it on your own. The package includes
- CR 21 Forms- (PDF and Word format) -Blank one for you to use, and a completed one so that you know how to complete it in your own
- Articles and Memorandum of Association (PDF and Word Format) – Completed ones so that you know how to do it on your own, plus a template where you just have to edit a few details (i.e. main object, details of shareholders, names of directors, company name e.t.c.)
- Objects – PDF and Word Format (This contains a list of various objects to use, to cater for different core businesses eg for a motor spares company, mining company, micro finance company etc. In the event than an object for your business is not included, you contact us and we will give you the object)
- CR 6 and CR 14 forms – (PDF and Word format) -Blank one for you to use, and a completed one so that you know how to complete it in your own
- Company Registration Manual – (PDF format) – A manual which guides you step by step what you should do to register your company in Zimbabwe using our templates.
- A list of 100 registered Zimbabwe company names so that you can see how others named their companies
The price for the Zimbabwe company registration manual is only $12.50 for the soft copy, and $16 for the hard copy. This package is suitable for a basic company with no complex legal requirements. Scroll down for details on how to make the payment.
Get the Company Registration In Zimbabwe Manual (PDF And Word)
We decided to make the manual affordable to anyone who would want to register a company, and the price is only $12.50 for soft copies, and $16 for hard copies.
You can purchase via Paynow using Ecocash, Telecash , MasterCard or Visa Card. You just click Pay now (scroll down) and you will then be taken to Pay now website where you make the payment. Just follow the instructions; you will be done with the payment process in 2 minutes. We will email the company registration in Zimbabwe manual and templates (PDF format And Microsoft word format) to you within 24 hours, using the email address you provided when you were paying.
If you have a PayPal account, you can purchase the company registration in Zimbabwe manual and templates via PayPal. You just click Buy now (scroll down) and you will then be taken to PayPal website where you make the payment. Just follow the instructions; you will be done with the payment process in 2 minutes. We will email the company registration in Zimbabwe manual and templates (PDF format And Microsoft word format) to you within 24 hours, using the email address you provided when you were paying.
You can also purchase hard copies and/or soft copies at our offices in Harare. Visit StartupBiz Zimbabwe, Office 103, First Floor, Gowero House, Cnr Mbuya Nehanda and Nelson Mandela, Harare . Hard copies cost $16 and soft copies cost $12.50.
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Can I register a company which does many things, eg supermarket, construction, transport business etc?/ I want to start a manufacturing company but later I would want to diversify into transport business, is this possible?
Answer: This is a concern for many who want to do company registration in Zimbabwe. In the memorandum of association, there is a section of objects. In simple terms, the objects of the company is the nature of businesses your company may venture into. The first object is the core object of the company, ie your core business. So you have to choose your core business, which is is what you put as the first object. After the first object, there will be many other objects covering a diverse kind of businesses, thus you can put a wide range of businesses which you think you may or may not venture into the future. On top of that, you will add another object which states that your company can carry any other business or trade which is deemed appropriate by the directors. Thus you will not be limited in the nature of businesses which you can do.
How long does it take to register a company in Zimbabwe?
The first stage for company registration in Zimbabwe is called the name search, it takes 3-5 working days. The second stage for company registration is the submission of the memorandum and articles of association, it takes 4-7 working days. So in total, the time taken is 7-12 working days. Note that you may have a time gap between the name search and submission of memos, ie you have 60 days after your name is approved to register your company. This means you can choose to reserve your name now, and then complete the company registration next month etc.
Won’t my papers be rejected?
The guys at the Registrar of Companies have a certain way they want things done e.g. the structure of your memos and articles, spacing on the first page of the memorandum of association etc. Thus you have to make sure that you follow our manual and templates, without changing the font sizes and the order of the sub headings etc to ensure that your papers are not rejected. If your memos and articles of association papers are rejected, they write down the things you did wrong, and you will have to resubmit the papers at no extra cost.
How many people are needed to register a company in Zimbabwe?
You need at least 2 shareholders and 2 directors. The shareholders can also act as directors. You also need one witness. The maximum number of shareholders is 50.
What Payments methods are accepted at the Registrar of Companies? Can I swipe?
Yes plastic money is accepted at the Registrar of Companies. You can pay cash, swipe on a POS Machine, or do an RTGS Transfer.
Where is the Registrar of companies located? Where do I submit my company registration papers?
Harare: Century House East, 38 Nelson Mandela Avenue, Harare. That is along Nelson Mandela, between Angwa Street and Julius Nyerere.
Bulawayo: Redgold building, 2nd floor, Room 222 Fort Street/leopold Takawira Street, Bulawayo
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The information in this article and manual is provided for general guidance only and on the understanding that it does not represent, and is not intended to be, advice. Any views or opinions presented in this article and manual are solely our own and do not necessarily represent those of the Registrar of Companies or any other person or organisation. Whilst care has been taken in its preparation, it should not be used as a substitute for consultation with professional legal or other advisors.