DOING BUSINESS IN ZAMBIA

There are a number of requirements for Investors to do business in Zambia;
 COMPANY FORMATION AND REGISTRATION
The Company’s Act Cap 388 governs the registration of companies in Zambia. Registration is done at the Patents and Companies
Registration Office. Any two or more persons can incorporate a company under the Company’s Act. The persons will be required to submit the following documents:

  •  Application for name clearance, in order to avoid use of an existing or similar name
  • Application for incorporation by subscribing the names of directors and secretaries of the company
  •  Articles of the company
  •  Statutory declaration as to compliance with the Company’s Act
  •  Signed consent to act as director or secretary by each person named in the company’s application
  • Declaration of guarantee, if a company is limited by guarantee.

The minimum share capital of a company is K10, 000 (about US$ 770).The law requires that half the directors of the company be
resident in Zambia. All companies are required to submit annual returns to the Registrar of Companies within three months after the
end of the financial year or one month after the Annual General Meeting if it is held within three months after the financial year.
The Company’s Act allows foreign companies to register with the Registrar of Companies within 28 days of setting up or acquiring an
established place of business. The documentation requirement may be obtained from the Office of the Registrar of Companies.

  •  THE CERTIFICATE OF REGISTRATION

The Zambia Development Act No. 11 of 2006 provides for investment incentives and investment guarantees. Applications for a
certificate of registration should be submitted to the Zambia Development Agency, a statutory body mandated by government to
foster economic development through the promotion and facilitation of investment and international trade.
The documents required to support an application for an Investment Certificate include:

  • Copy of Certificate of Incorporation, issued by the Registrar of Companies
  •  Certificate of Share capital
  • Official list of shareholders / directors
  • Proof of finance (audited financial statements, certificate of deposit at bank or latest bank statement)
  •  Detailed Business Plan
  •  Proof of having secured a place / land to operate from (Lease Agreements or Title Deed or Letter of Offer)

Applications for a Certificate of Registration in some sectors of the Economy require proof that applications for subsidiary permits
from relevant institutions or ministries have been lodged.

 EMPLOYMENT LICENCES / PERMITS

The following employment licenses and permits are required in all sectors of the economy;
a) Investors permit
Immigration Headquarters are responsible for issuance of Investors Permits to deserving foreign investors. An application
for the permit should be supported by the following documents:
Two passport-size photos

  •  Bank statement
  •  Valid copy of the company’s certificate of incorporation
  •  Copy of the certificate of registration issued by the Zambia Development Agency

b) Employment permit
Immigration Headquarters, may issue employment permits after an investor submits the following documents:

  •  Certified copy of the applicant’s highest education qualification and any other additional qualifications and

certificate of employment from previous employers;

  • Letter from the prospective employer explaining steps taken to employ Zambian citizens to fill the vacancy

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