Online Registration Experience

Company Registration FAQs

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.

(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.

Tax Registration and ITF263 (Tax Clearance registration) is another process which takes from two to ten days.

We accept funds transferred or deposited into our trust account details below:
Account Name: ChimukaMafunga Commercial Attorneys Trust
Bank: NMB Bank
Branch: Excellence Centre
Account Number: 350051198

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

The three main roles in a Trust are a Trustee, a Settlor/ Founder and Beneficiaries.

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.

A trust is registered at the Deeds Registry through a notarial deed. The notary public will prepare the notarial deed of trust on instructions from the founder.

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).

(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.

A trust should have a minimum of two (2) trustees.

We accept funds transferred or deposited into our trust account details below:
Account Name: ChimukaMafunga Commercial Attorneys Trust
Bank: NMB Bank
Branch: Excellence Centre
Account Number: 350051198

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.

If you need a more detailed and personalised Approach Send us your Request to set an Appointment

Company Information Updates

Trust Information Updates