12 steps to incorporating in Zambia in 2021
Incorporation of a company in Zambia is a time consuming process, which can be completed in an average of three months. Our Client will not have to travel to the country, provided a Power of Attorney is issued to the Zambia incorporation agent who will then complete all procedures on our Client’s behalf. The typical procedures are as follow:
- Prior to incorporation, Healy Consultants expects our Clients to i) settle Healy Consultants’ engagement fees ii) sign and return us the engagement letter and iii) provide us with all required due diligence documents;
- Thereafter, Healy Consultants drafts a detailed project plan mapping out all Zambia business incorporation procedures, week by week. This document optimizes transparency and sets our Client’s expectations with regards to expected timelines for completion of their engagement;
- Healy Consultants’ Incorporation Team conducts a company name search with the Zambia Patent and Companies Registration Agency (PACRA) to ensure the uniqueness of the proposed company name;
- After agreeing with the Client on the best corporate structure for the proposed company, Healy Consultants prepares the required incorporation forms for the Client’s signature;
- Healy Consultants then prepares and sends our Client the Memorandum and Articles of Association, along with the shareholders and directors consent forms for the Client’s signature. These documents must be signed in the presence of a Notary Public and subsequently couriered back to us.
Company incorporation steps
- Our Zambian incorporation team will then submit all the required company incorporation documents and proceed to register the company with PACRA and obtains i) certificate of incorporation and ii) certificate of share capital;
- Following successful incorporation, Healy Consultants will then register the company for tax at the Zambia Revenue Authority to secure a corporate tax number and to ensure adherence to Zambia’s tax legislation;
- If required by the Client, Healy Consultants will apply for an Investment Certificate with the Zambia Development Agency to support the Clients’ intended business venture in Zambia;
- Healy Consultants Banking Team assists our Client to open a multicurrency corporate bank account with excellent internet banking facility. To provide our Client with the best possible corporate banking options in Zambia, Healy Consultants partners with globally recognized banks such as Standard Chartered bank, Barclays bank and Citibank as well as local banks;
- Healy Consultants will assist our Client to register the new company with the Zambia National Pension Scheme Authority (NAPSA) for the purposes of social security as doing so is required by the Zambia Company Law;
- After successful completion of the engagement, Healy Consultants will courier the complete company kit containing the original corporate documents, the unopened bank correspondence and a Client feedback survey regarding the quality of our Zambian business incorporation services;
- When the Client is ready to commence business, Healy Consultants will be happy to assist our Client to settle the business ley fees with the Lusaka City Council and commence operations.