(0242) 709 883 | +263 787 828 513

About Private Business Corporations

 

 

About Private Business Corporations

What is a Private Business Corporation

A Private Business Corporation is an alternative company structure to a Private Limited Company that is registered with the Companies Registry – the Registrar of Companies in Zimbabwe – through the process of incorporation. When a Private Business Corporation is registered through the Companies Registry, it becomes an individual in the eyes of the law. As such, a Private Business Corporation is a completely separate entity from its owners, because it is responsible for its own actions, finances and liabilities.

Who owns a Private Private Business Corporation?

A Private Business Corporation is owned by one or more members (shareholders). One person can be the sole shareholder and director of the company, or multiple people can be shareholders and/or directors of the Private Business Corporation company. This means you can register a Private Business Corporation on your own.

Private Business Corporations members are required to provide capital to the business. This determines how much of the company each shareholder owns.

Private Business Corporations must pay income tax on all taxable income. Post-tax profits are then issued to shareholders in relation to the number and value of their shares. Alternatively, the company may choose to reinvest surplus income in the business.

Key features and benefits

  • Can be owned and managed by one person or multiple people.
  • Personal liability of shareholders is limited to the value of their shares.
  • Company enjoys limited status which is more appealing to clients, investors and lenders.
  • A tax-efficient way to run a profit-making business.
  • Shareholders can keep all company profits for their personal use.

The legal requirements

  • Can be owned and managed by one person or multiple people.
  • Personal liability of shareholders is limited to the value of their shares.
  • Company enjoys limited status which is more appealing to clients, investors and lenders.
  • Company can sell shares to raise capital.
  • A tax-efficient way to run a profit-making business.
  • Shareholders can keep all company profits for their personal use.

FREE

Get a FREE e-book to help you kickstart your business plus FREE share certificates for every shareholder with every company registration package.

Special Offer for limited time only - ends 31 February 2021.

Get Started

''''''''''

 

Full Company Secretary Service

Director changes are FREE with our Full Company Secretary Service (as one of your 3 company changes per year).

US$149 per year

 

Read more

 

I registered my Private Business Corporation with Company Formations with no problem whatsoever.

Pearson Ncube

Founder, Perlson Enterprises

T: (263) (0242) 709 883
M: (263) 787 828 513

info@companyformations.co.zw

Social Media

Follow us for advice on company registration in Zimbabwe, corporate secretarial and business services plus great entrepreneur tips.

Accreditation

"The Companies Registry does not do business with unlicensed or unregistered individuals, agents or consultants." Company Formations is a licensed company registration agent with the Deeds, Companies, & Intellectual Property (DCIP) which licenses company registration agents in Zimbabwe.

Company Formations is a member of ZACRA, the association of company registration agents in Zimbabwe with the purpose of encouraging high standards amongst agents and acting as an open forum for  professionals working in the industry.

ZACRA is a recognised association for company registration and ZACRA works closely with government departments such as the Companies Registry and Zimbabwe Revenue Authority (ZIMRA).

Our ZACRA membership is an endorsement of the quality of service we provide and gives our customers the confidence that they are dealing with an agent they can trust.

Company Formations 'CF' is a service by Numeri Incorporated (Private) Limited a registered entity in Zimbabwe at Hungwe House, 69 Jason Moyo Avenue, First Floor, North Wing, Harare, Zimbabwe. Numeri offers company registration in Zimbabwe and related corporate secretarial services.

Company Number : 15985/2019.

The Company Formations name and logo are registered trade marks.

Company Formations (Since 2015).

Copyright 2022 © Numeri Incorporated (Private) Limited.