Information you'll need to supply:
1 to 5 proposed names for your company, the one you want the most on top and the least on the bottom
The main objectives of the company which will be listed in the Memorandum of Association for the Pvt Ltd and Incorporation Statement for a PBC.
The full names, ID numbers and addresses of the shareholders/members/directors
Pvt Ltd requires at least two directors and one shareholder, note that one can be a shareholder, director and company secretary on the same company
Physical and postal address of the business. In a PBC this goes on the Incorporation Statement and in a Private Limited Company it goes on the CR6
- Each member of the PBC must sign the Incorporation Statement before the Registrar appends his/her seal, stamp and signature. In a Pvt Ltd the shareholders must sign and state the number of shares they are taking in the Memorandum of Association.
Comparison: Private Limited or PBC?
Register a Private Limited
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Mainly meant for medium to large businesses
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Minimum of 2 (two) people can register
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Has a legal persona of its own apart from its owners
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Has perpetual succession
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Can have a maximum of 50 directors
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Shareholders are owners and can be different from the directors
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Companies, individuals, organizations can be shareholders in a Pvt Ltd
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Comprised of directors and shareholders
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Has a certificate of incorporation, memorandum and articles of association, CR6 and CR14
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Registered articles of association
Register a PBC
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For small to medium businesses
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Minimum of One person can register
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Has a legal persona of its own apart from its owners
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Has perpetual succession
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Can have a maximum of 20 members/owners
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Members are the same as shareholders/owners/directors
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Companies cannot be shareholders or hold a member’s interest in a PBC, only individuals can be members
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Comprised of members
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Has an incorporation statement
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Articles of association are not required
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Company registration FAQs
Company registration can take anywhere between 3 to 10 days. We offer several packages, ranging from standard registrations to expedited processing.
The PBC is a lot cheaper to register as it is government’s attempt to formalise the informal sector. It’s also specifically designed for small to medium businesses hence the attempt to reduce the price to accommodate smaller businesses who cannot afford the higher costs of registering a Pvt Ltd. Not only is a PBC cheaper to register, it’s also cheaper and easier to maintain. It has no annual returns and laws that govern it are pretty straight-forward.
Not automatically. Tax Registration and ITF263 (Tax Clearance) registration is another process which requires a separate fee. It also takes anywhere between 3–10 days to process.
A PBC just like Pvt Ltd it can obtain a ITF263 (Tax Clearance) at Zimra, it can also be listed as a government supplier in the government gazette and you can also get a bank account of your choice in Zimbabwe.
