Company Formation in Zambia | Business Registration | IMC
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SET UP A BUSINESS IN ZAMBIA

Zambia located in the Southern Africa sub-region. The country is bordered by Tanzania (in the north), Malawi (in the east), Zimbabwe (in the south), Mozambique (in the south-east), Angola (in the west) Botswana and Namibia (in the South West), and the Democratic Republic of Congo (in the north-west). No sectors are barred to foreign investors and no restrictions on the percentage of equity they might hold. The creation of world-class infrastructure in designated areas known as Multi Facility Economic Zones (MFEZ) to facilitate entry of businesses and duty free access to regional, wider Africa, EU and USA markets

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 COMPANY FORMATION IN ZAMBIA

  • A private limited company (LLC) must have a minimum of two shareholders, and may not have more than fifty shareholders and with the minimum capital of ZMK 5,000,000.
  • Company registration is undertaken through the Registrar of Companies, which is located at the Patent and Companies Registration Office (PACRO).
  • At least two directors required and at least one director must be a resident in Zambia

COMPANY REGISTRATION IN ZAMBIA – LICENSING

  • License issued by the various Ministries depends upon the sector. For e.g., The Energy Regulations Board is responsible for issuance of licenses in the energy sector

ACCOUNTING AND TAX FOR COMPANY REGISTERED IN ZAMBIA

  • Corporate tax rate is 35% and the value added tax rate is 16%
  • The rate of withholding on dividends is 15% and it is the final tax for residents and non – residents.  Withholding on dividends for Companies carrying on mining is 0%.
  • Income tax is tax on profits made by Limited Companies, as well as on emoluments earned by employees

TypeLimited Liability Company/Branch office
Under Zambian law, foreigners can own100%
Share CapitalZMK 5,000,000
DirectorsMinimum Two and at least half must be resident in Zambia
ShareholdersMinimum Two
Memorandum and Articles of
Association
Yes
Can the entity hire expatriate staff in
Zambia
Yes
Tax Registration Certificate requiredYes
Statutory audit requiredYes
SecretaryYes
How long to open Corporate Bank Account1 week
Timeframe to Incorporation2-4 weeks
Annual ReturnYes
Annual TaxYes
Access to Zambia
double tax treaties
Yes