Post Purchase Support

You can start trading through your company as soon as you receive your company documents that is usually in not more than 24 working hours.

If you choose to start trading straight away, your company is ‘active’ and you must register with the Zimbabwe Revenue Authority (ZIMRA) for your tax obligations within 1 month of starting to trade. If you do not want to trade until a later date, you do not have to register with ZIMRA. When you are eventually ready to trade, you will need to register for income tax and/or PAYE.

Changing your company name

You can change the registered name of your company whenever you like, but you must adhere to some rules and guidelines. It cannot be the ‘same as’ or too like’ an existing company name.

You can change your company name by special resolution of the shareholders.

You should notify the Companies Registry immediately upon choosing a new name – it will not be official until the change has been approved by the Companies Registry and you receive a Certificate of Name Change. You will then be able to update your company signage, stationery and online materials accordingly.

Changing your company addresses

You can change your company addresses (phyical, postal and email) whenever you like, but the physical address must remain a Zimbabwean address. The Companies Registry should be notified of any such changes and the public register will be updated accordingly.

Remember to update your company stationery and online material with your new addresses.

Registering your company for tax

If your company is actively trading, you must register with ZIMRA for income tax within 1 month of beginning any business activity. You may also have to register for VAT if your company generates over ZWL1 000 000 of VAT taxable turnover in one year, or it is likely to exceed this threshold within the next 30 days alone.

If your company is registered for income tax, you will be required to send monthly returns, quaterly, and annual Company Tax Returns to ZIMRA and pay any income tax that is owed.

Setting up a business bank account

You really should have a separate business bank account for all company finances. If you use your personal account, however it will make it difficult to distinguish company money from personal money and very difficult to operate.

Annual reporting requirements

You must send an annual return (a snapshot of company details and information about shares) and declaration of annual general meeting to the Companies Registry every year by the deadlines you are given.

Selling shares

You can issue more shares by increasing the share capital or selling/transferring existing shares at any time. The directors are responsible for such matters, but shareholder approval may be required in some situations.