Most young people (and a lot of older ones) have a brilliant idea waiting to happen but most times they are constrained by the old age wolf, funds, from embarking on their business and miss out on a lot of opportunities because their business lacks the legitimacy that a Private Limited Company offers. But we all know the process of registering a Private Limited Company can be not only quite hectic but also quite costly for the dreamer who simply wants the chance to start.
By Chirambadare Lindani
I would know, I have been there. And this is why I want to tell you that there is a legitimate way to set up your business and you can afford it. For Just $27.00 you can have your very own company. A Private Business Corporation.
What is a Private Business Corporation?
It is a legal entity that allows you to transact for purposes of business. Only it doesn’t require such complicated processes as articles of association and Memorandum of Association. For the purposes of brevity I will not dwell on the features of a PBC in this article. Watch out for the next one. Now here are the steps for you to get your very own PBC.
COMPANY NAME SEARCH
You can do your company name search for just $5 and from the comfort of your couch. Or feet. However you are persuaded. Simply visit https://www.pfms.gov.zw and register your details, make your online payment for the $5 and submit names that you want your business to be called by. You can do this until you have found something that suits your vision. Once your name has been approved you can now move on to the next step.
Fill in your PBC forms
You can get these from any bookshop worth its salt. You need two of these forms and they should cost you at most $2. Basically the form requires the Full names and ID numbers of between 1-20 members as shareholders or directors of the PBC. These names go on the statement of incorporation. You will also need to fill in the details of each member interest in the PBC and this interest can be in the form of money or services. The combined stake of the PBC should be 1 00%. You will also provide the Physical and postal address of the PBC AND FINALLY Every member must sign the incorporation statement before the registrar affixes his seal, stamp and signature.
Accounting officer certificate
You will also need to attach a certificate from an accounting officer and attach it to your PBC. Start calling our Accounting officer friends NOW.
You will need to pay this amount on submission at the deeds and companies Registry. Make sure to greet the guard in your way in. And then thats it! You wait for 3-5 business days and you have your brand new company! Well Done and Good luck.
Comments and Questions are welcome.
This article was first published on www.yalicreatives.com