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THE FOURTH QUARTER Provisional Income Tax Returns 2023 and NOVEMBER 2023 VAT RETURNS ARE DUE THIS 20TH DECEMBER 2023. TARMS MIGRATION WHICH WAS LAUNCHED ON 12TH OCTOBER 2023 IS STILL ONGOING, IF YOUR ORGANISATION IS NOT YET MIGRATED TO THE NEW TAX AND REVENUE MANAGEMENT SYSTEM, PLEASE VISIT OUR OFFICES FOR IMMEDIATE ASSISTANCE AS ZIMRA NO LONGER ISSUE TAX CLEARANCE OR ACCEPT TAX RETURNS THROUGH THE OLD SYSTEM. THE P.A.Y.E AND PRESUMPTIVE TAX RETURNS ARE ALSO DUE THIS 10TH DECEMBER 2023!
AVOID LAST MINUTE RUSH, LET’S REGISTER YOUR COMPANY TODAY, LET’S MIGRATE YOUR BUSINESS TO THE NEW SYSTEM, LET’S PROCESS YOUR 2024 TAX CLEARANCE NOW, GO PROFESSIONAL & MAXIMIZE YOUR POTENTIAL!
TODAY WE FOCUS MORE ON THE COMPANY REGISTRATION PROCESS/PROCEDURE. INFORMATION IS POWER, ENJOY YOUR READING!
Procedure for Company Registration in Zimbabwe is divided into three (3) stages.
There is the Name Search and Reservation Stage, there is the Document Preparation and Signing and then the Incorporation and Registration stage. The procedure is basically the same for both the companies’ structure, a PBC (Private Business Corporation) or a PLC (Private Limited Company). The name search stage is the same for both company types so we shall list it the same for both.
The procedure for registering a company in Zimbabwe generally follows these three (3) steps:
1). Name Search
At this stage an application is made to the Registrar of Companies, requesting for your proposed name to be searched in the list of the register of companies in Zimbabwe.
The reason for carrying out a name search is to be granted permission to use a certain name.
If the name search application is approved, the Registrar of Companies reserves your name for the period of up to 30 days to enable you to register your company, and during this period the reserved name will not be granted for use to anyone else except you.
A list of 5 proposed unique names is required for the application. So that, in the event that one is rejected another maybe accepted. Also, these proposed names should be listed in order of preference.
Names that are similar to other company names or organizations are rejected by the registrar of companies. Also, names that are likely to mislead the public or are indecent will be rejected.
A written notice or response is issued by the registrar of companies as confirmation that your proposed name is either reserved or rejected. This is also known as a C.V.4.
The process of a Name Search will take between 3 to 6 working days depending on the workload at the Registrar’s Office.
Reasons why names may be rejected:
✍👉The proposed name/s are close to an already registered company or organization either when written down or pronounced for example: OK and Okay.
✍👉When your company name/s is deemed to be offensive, blasphemous or indecent to any person or class of people.
✍👉When your company name is likely to be deceiving, misinforming or misleading the public e.g. a company called: Auditor General.
✍👉Your company name suggests patronage of the Government or some other Authority or Organization.
✍👉Your company name is undesirable for any other reason.
2). Documents Preparation and Signing
At this stage we will prepare all your documents in accordance with the Companies Act and file the Registrar of Companies.
For a Private Limited Company (PLC) the list of directors (C.R.6), Company Address form (C.R.5) and the Memorandum of Association will be prepared in accordance with the Companies Act and filed with the Registrar’s Office.
For a Private Business Corporation (PBC) the process involves the Appointment of Members (shareholders/ directors) of the PBC. Each member is assigned a percentage of ownership in the PBC. The total percentage for all members must add up to 100%
This process will usually take 2 to 3 days at most, and the directors will be required to sign the documents before submission to the registrar.
Lastly, the documents are submitted for Registration & Incorporation.
3). Incorporation & Registration
a). Procedure for registration as a PBC (Private Business Corporation)
The Registrar will then register the PBC and assign to it a Registration Number. The Registrar will put their seal, stamp and signature to the PBC Incorporation Statement to signify its authenticity. The PBC is also entered into the Company registry and becomes searchable in the Registrar’s database. This process takes 3 to 6 working days.
b). Procedure for registration as a PLC (Private Limited Company)
The Registrar will then register the PLC and assign to it a registration number. A certificate of Incorporation is also issued. The Registrar will put their seal, stamp and signature to the Certificate of Incorporation, Memorandum & Articles of Association and the CR5 & CR6 to signify their authenticity. The PLC is also entered into the Company registry and becomes searchable in the Registrar’s database. This process takes 3 to 6 working days.
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OTHER SERVICES OFFERED
At “https://multibusinessconsultants.com” We provide the following services:
✍ Bookkeeping (from as little as $100-00)
✍ Financial Statements = $200-00
✍ Projections = $250-00
✍ Feasibility Reports = from $250-00
✍ Income Tax Returns = from as little as $50-00
✍ Value Added Tax Returns = $50-00
✍ Payroll Administration = $250-00
✍ NSSA Registration & Returns = from as little as $50-00
✍Audit = $150-00
✍ Business Advisory Services = $250-00
✍ Pay As You Earn Tax Returns = from as little as $50-00
✍ Presumptive Tax Returns = $50-00
✍ Company Registration = from $150-00
✍ Capital Gains Tax Returns = from $250-00
✍ Fiscalization = from $250-00
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