Company Limited by Guarantee Registration

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Company Limited by Guarantee Frequently asked questions

What is a Company Limited by Guarantee?

A company limited by guarantee is a type of company that is not a profit-making entity. It is formed by a group of people who agree to contribute a certain amount of money to the company in the event that it is wound up. The members of the company are not personally liable for the debts of the company, and the company’s assets are used to pay off its debts before any money is returned to the members.

Company limited by guarantee are often used for non-profit organizations, such as charities, clubs, and societies. They can also be used for commercial businesses, but they are not as common as other types of companies, such as limited companies and public companies.

The main advantage of a company limited by guarantee is that the members are not personally liable for the debts of the company. This can be a significant advantage for non-profit organizations, which often have limited funds.

Who owns a Company Limited by Guarantee?

The guarntors of a company limited by guarantee are the owners of the company. The guarantors are responsible for managing the company and making decisions about its future. They are also responsible for paying the company’s debts and taxes.

The members of a company limited by guarantee are not personally liable for the debts of the company. This means that if the company goes into debt, the members’ personal assets are not at risk. However, the members may be required to contribute a certain amount of money to the company if it is wound up.

What are the key features of a Company Limited by Guarantee?

• This type of company has guarantors and guarantees instead of shareholders and shares.
• The members of the company are not personally liable for the debts of the company.
• The company’s assets are used to pay off its debts before any money is returned to the members.
• Company limited by guarantee are often used for non-profit organizations, such as charities, clubs, and societies.

How can I order a Company Limited by Guarantee?

You can order by calling, texting or WhatsApp at (0242) 753 168 or 0787 828 513 or email at info@companyformations.co.zw.

What are the requirements for registering a Company Limited by Guarantee?

The requirements are as follows:

• Proposed company names
• Company core objectives
• Company directors information i.e. names. national identity number, nationality and addresses
• Company gurantors information i.e. names and addresses
• Company addresses i.e. physical, postal and email addresses

What documents will I receive after I register a Company Limited by Guarantee?

You will receive the following:

• Certificate of incorporation
• CR 6
• CR 5
• Memorandum and articles of association
• Guarantors certificates

How long does it take to register a Company Limited by Guarantee?

It takes upto 30 working days.

How much does it cost to register a Company Limited by Guarantee?

Registering a Company Limited by Guarantee costs US$350.00 only.