For starters, the law in Zambia is mixed (common and customary law) law. You will want to get some local advice as to how to best structure a company in Zambia. E-signatures are allowed.
The abbreviation ZM is for Zambia and the most common company type in Zambia is a LTD.
It typically takes about 7 weeks to incorporate a LTD in ZM. The minimal capitalization, or amount you're expected to put into a bank, is 0, This means you don't have any minimum share capital. The types of consideration you can use to capitalize your company is often legal tender.
Yes, one is allowed to re-domicile a LTD from ZM. You are usually allowed to change the jurisdiction of the company, pending certain procedures.
There must be at least This means it is not possible for you to own a LTD in Zambia as a sole shareholder. You must have other shareholders, they can be nominees or de facto shareholders. Corporate Shareholders are permitted, which means you can have a legal entity as a shareholder. Foreign ownership is allowed, up to 100% of the total shareholding.
There is a requirement to have at least 2 directors. Speaking of shareholders, corporate directors are permitted. Directors should not have an expectation of privacy, as they are not kept private in Zambia. There is a requirement to have annual meetings of shareholders.
A registered legal firm must be retained for an address, paid by the company on an annual basis, for a professional firm which can receive a service of process on behalf of the registered legal entity. Furthermore, a company secretary is a requirement.
There is an obligation to file yearly tax returns. However, there is oftentimes a requirement to have these accounts audited.
Thin capitalization rules are not in effect.
A corporate director is permitted, meaning this country is a good option if you are setting up a structure where you want to protect director liability.
The directors are disclosed in the public registry of Zambia, Republic of Zambia government. Shareholders are not disclosed in the Republic of Zambia government.
Typically companies take 7 weeks to setup and there are 2 director(s) required and 2 shareholder(s) required at the time of incorporation.
Overall we think Zambia is a ok option and have given it a score of 55 as an IO score, using the Incorporations.IO proprietary formula.
7 weeksto form