What is a Company?
A company abbreviated as co., is a legal entity representing an association of people, whether natural, legal, or a mixture of both, with a specific objective.
Company members share a common purpose and unite to achieve specific, declared goals.
How To Register A Company In Zambia
Pay business levy.
Health clearance and food hygiene license.
Fire clearance certificate.
License to manufacture excisable goods.
How long does it take to register a company in Zambia?
The process is completed within 24 hours. At least two (2) or more directors: The number of directors, including the executive director,
who should be resident in Zambia, shall not be less than half the number of directors appointed. Age – 18 years and above.
How much does it cost to register a company in Zambia?
The company should also indicate the name of the firm, corporate body, or individual resident in Zambia that would be authorized to act as the documentary agent.
The application fee to be paid upon completion of the process is ZMW 4,166.
How can a foreigner register a company in Zambia?
1. Acquiring a tax ID number
In order to acquire a TIN (tax identification number), the investor has to file a certificate of incorporation and register with Zambia Revenue Authority.
2. Registering with Social Security
If you are an investor then you are required to register with National Pension Scheme Authority. Registering with NPSA requires you to file a certificate of Incorporation.
3. Clearing business Levy
Before business operations commence, the investor has to pay the business levy first. The business levy fee has to be cleared with Lusaka City Council.
4. Registering for Value Added Tax (VAT)
Registering for VAT is mainly for businesses or companies that manufacture goods. An investor must get a VAT tax number only if the value of taxable supplies exceeds approximately 800,000 in twelve consecutive months or ZMK 200,000 in three consecutive months. Registering for VAT must be done with the Zambia Revenue Authority.
5. Acquiring an investment registration certificate
Getting an investment registration certificate is optional for all investors. To get this certificate, you must have invested at least $250,000.
6. Opening a bank account
If you are an investor, you are free to open a bank account only if you have successfully obtained a foreign taxpayer registration ID. However, there are several banks in Zambia that investors can access to secure accounts for their businesses.
7. Acquire the necessary licenses and permits
The kind of licenses and permits that an Investor has to acquire must specifically depend on the type of business or company one runs.
8. Obtaining a fire clearance certificate
A fire clearance certificate must be obtained by all businesses. The issuance of this certificate is based on the council in which business activities take place. The fire clearance certificate lasts for a year, and it’s renewable.
Added clearances:
(a) Business operation permit
The business permit is harmonized and processed throughout the country. However, the issuance is done at the council level.
Business activity is chargeable, and the fee depends on the investor’s activity and the number of workers. A business operation permit is issued only when business premises are ready.
(b) License to manufacture excisable goods
Businesses involved in manufacturing and importation (excisable goods) have to get an excisable goods license from the Revenue Authority of Zambia.