Online Registration Experience
Company Registration FAQs
Why should I register a company?
Incorporating a company has many benefits including but not limited to the following:
(i) a company has separate legal entity, and therefore you are not liable personally for debts as you would be as a sole trader,
(ii) as you only pay corporation tax on taxable profits at a fixed rate, you are not susceptible to paying higher rates of income tax as you would on your personal income,
(iii) you are also eligible to claim more respite in terms of tax-deductible costs that can help lower the amount of your corporation taxable income each year,
(iv) the ability to raise capital and encourage investment into your business,
(v) as your company has a more established profile, investors are more likely to have confidence than when dealing with a sole trader,
(vi) a company has perpetual succession, it exists beyond a natural person, and
(vii) operating under a limited status can often improve your credibility and create a more professional impression, which can lead to more business and higher profits in the long run.
What type of a company do you recommend me to register?
- A private limited company.
What information/ documentation do you require from me?
(i) 1 to 5 proposed names for your company (in order of preference),
(ii) the main objectives of the company,
(iii) the full names, ID numbers and addresses of at least one shareholder, two directors and company secretary (with copies of the ID’s), and
(iv) physical and postal address of the business.
Do I get a tax clearance after registering a company?
Tax Registration and ITF263 (Tax Clearance registration) is another process which takes from two to ten days.
What are the payment methods you accept for Registration Fees?
How will I be kept informed about my case?
We have numerous ways of updating our clients including the conventional email, mobile message or call. We also have a portal in which our clients can login and obtain further details on the matters we are handling for them. In addition, we have developed an App which allows users to also obtain updates on their matters.
Trust Registration FAQs
Who are the Key Players in a Trust?
The three main roles in a Trust are a Trustee, a Settlor/ Founder and Beneficiaries.
Is the Trustee Subject to any Rules or Regulations?
In short yes, the Companies and Business Entities Act (Chapter 24:31) regulates the registration and regulation of Trusts in Zimbabwe. The trust deed sets out the scope of a trustee’s powers. So, if you have specific requirements, consider drafting a deed to limit/constrain/manage their powers. Trustees are also subject to a variety of other requirements imposed by both common law and statute.
Importantly, a trustee has a fiduciary relationship with the beneficiaries. This relationship exists because of the trust placed in the trustee. To protect those in a vulnerable position (those putting trust in the trustee) the law recognises this special relationship and places duties on the trustee to ensure they act in good faith and the best interests of the trust.
How is a trust registered?
What are the advantages of registering a trust?
Some of the advantages include the following: (i) Asset protection (protection of assets from creditors and matrimonial and inheritance disputes), (ii) Continuity (A trust can ensure perpetual succession), (iii) Tax benefits – trusts do not pay estate duty (tax payable by a deceased estate).
What information/ documentation do you require from me?
(i) Proposed name for the trust
(ii) names, ID’s, addresses, DOB’s of the trustees and the settlor/founder
(iii) the beneficiaries, and
(iv) objectives of the trust.
How many trustees can a Trust have?
A trust should have a minimum of two (2) trustees.
Can a Trustee or Donor be a beneficiary of a Trust?
It is possible.
What are the payment methods you accept for Registration Fees?
How will I be kept informed about my case?
We have numerous ways of updating our clients including the conventional email, mobile message or call. We also have a portal in which our clients can login and obtain further details on the matters we are handling for them. In addition, we have developed an App which allows users to also obtain updates on their matters.