Knowing what’s needed to register a business sets you up to start a successful business. Below are the requirements for company registration in Zimbabwe explored in detail. 1. Four (4) …
Attract Bigger Business
- Many registered companies avoids doing business with unregistered companies because they lack compliance with the tax authorities.
- This is the same reason why large government tenders are only open to registered businesses possessing a valid ITF263 Zimra Tax Clearance Certificates.
Enjoy Limited Liability
- A registered company exists as a separate legal entity with its own rights to sue and to be sued.
- This safeguards you as a member or shareholder from losing your personal property to cover up business debts.
- You only lose what you would have invested into the business and nothing more.
Continuity of Business
- The death of a shareholder will not disrupt business operations as with the sole trading or partnership business.
- All registered companies can continue to operate into the unforeseeable future with the shareholders at liberty to join or leave as they pleases if there are not violating preset conditions.
Easy Business Growth
- You can easily raise more capital for business growth and expansion purposes through adding more members or shareholders who bring more financial resources.
- A registered company can also be listed public on the Zimbabwe Stock Exchange and appeal for funds from the general public.