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Understand the Jurisdiction Setup Requirement Before Proceed Your Zambia Company Incorporation Services

As a sub-tropical country with plenty of investment opportunities, Zambia is proving itself as a foreign investor-friendly country. It begins with a stable and peaceful political system, followed by an array of key strengths that offer valuable insights for investors to choose Zambia as their business destination. The country might be the right country to begin your Zambia company incorporation services.

Among the key attributes is its abundance of natural resources, brilliant trade and investment opportunities, duty-free access to its regional African, USA and EU markets, attractive investment incentives and a good place to live, work and play. It simply means there is plenty of open-air lifestyle with nature reserves, parks, waterfalls, rivers and game parks.

 

The Business Entity

There are several types of business entities that Zambia allows to incorporate. They are sole proprietorships, partnerships, and private and public companies. Foreign investments in Zambia can incorporate an unlimited liability company, a limited liability company or a company limited by guarantees.

Now let’s get straight to what a Zambia company incorporation services entail. The Zambia Companies Act states that foreign investors may incorporate a local company in Zambia without needing local shareholders. The most common business entity to foreign investors in Zambia is the Limited Liability Company (LLC).

 

The Regulation

All companies incorporated in Zambia must adhere to the Zambia Companies Act. The Patents and Companies Registration Agency (PACRA) is the regulatory body responsible for overlooking company regulations and formations. Other regulations containing provisions for companies are the Competition and Consumer Protection Act which primarily seeks to safeguard and promote fair competition for consumers. Private companies can also enjoy several investment incentives if they acquire an investment license under the Zambia Development Agency Act.

 

Incorporation Process

Business owners may begin the process with a name search and clearance. Business owners can submit a company name application using a clearance form. A company representative must also fill in a declaration on compliance (Companies Form 11) with a commissioner of oath signing the clearance form. Any name that is misleading or similar to an already existing company name will not be accepted. Do your research before this first step to avoid resubmissions.

Once PACRA approves your proposed company name, your next step is to fill out the incorporation application form. The company representative completes the form and submits it with the proposed articles of association, a statutory declaration, directors’ consent to act, and certified true copies of valid identification documents for the proposed directors. If this may sound too much, our Zambia company incorporation services will assist you with due diligence documents and work towards effortless company incorporation.

After incorporating the company, you should receive a certificate of incorporation. The certification will be handy when you need to open a corporate bank account, obtain a tax ID number, register for social security and register for VAT. Should you need more information on how to begin Zambia company incorporation services with us, you can contact us, and we will help you get up to speed on any of your needs.

If you require assistance or consultation, please feel free to get in touch with us and we will promptly reply to you within 24 hours.