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How To Start A Business in Zambia

 

How To Start A Small Business In Zambia – The Basics

Are you one of those who dream of owning your own small business in Zambia? You’ll be your own boss, and the captain of your destiny—–maybe even a captain of an industry. Is it hard? Without a doubt. Is it challenging? Absolutely. Do you have to be wealthy and well-educated with a lengthy resumé? Not at all! Can you do it? As the magic 8-ball says, “All signs point to yes!” So how do you do it, and make it work? Plan, plan, plan! There are some tried and true ways head down the path of creating your own business, and there is no time like the present to get started!

Now let’s be honest. The Zambian government is not going to provide jobs for everyone. If you are solely depending on the government to improve your livelihood,

Starting a small business in Zambia is not as hard as you think. Gone are the days of having thousands of dollars in the bank before starting a worthwhile business adventure. Thumbs up to all the small businesses in Zambia that are sprouting up everyday.

Unemployment amongst Zambian youth is causing chaos. Zambian youths are being taken advantage of by political parties to do their dirty jobs because of the high unemployment rates.:

 

No.ProcedureTime to CompleteAssociated Costs
 1Check name for uniqueness at PACRA
Agency: Patent and Companies Registration Agency

The name clearance is done at the Patent And Companies Registration Agency (PACRA). Recently, the online name search was also introduced on the website of PACRA.
Less than one day (online procedure) ZMK 56 for name search/clearance and ZMK 111 for name reservation
 2Register the company at PACRA
Agency: Patent and Companies Registration Agency

The registrar is located at the PACRA. PACRA is a stand-alone office with a customer service center designed in a process chain platform, where the applicant goes through various steps: check name, submit the completed Form 2: Application for Incorporation, Form 5: Declaration of Consent to act as a Director or Secretary, Form 11: Declaration of compliance, receive a case number to track the application status, and pay the fees at the cashier. At the end of the process, the applicant returns to PACRA to obtain the certificate of incorporation and the certificate of share capital.

The fees payable to PACRA are as follows:
- Registration Fee: 2.5% of nominal capital
- Certificate of incorporation: ZMK 56
- Certificate of share capital: ZMK 56
- Certificate of minimum capital: ZMK 56
- Companies Form 5: ZMK 56
- Companies Form 11: ZMK 56
3 days see comments
 3Register with the local Zambia Revenue Authority (ZRA) office, direct tax division to obtain a corporate tax number
Agency: Zambia Revenue Authority

The corporate tax number is obtained from the Zambia Revenue Authority (ZRA).
1 day no charge
 4Register with National Pension Scheme Authority for Social Security
Agency: National Pensions Scheme Authority

In order to register with the National Pension Scheme Authority, the Employer must file an Employer registration form and attach a copy of the company's certificate of incorporation. The Employees must complete a membership registration form and attach copies of their National Registration Cards.
1 day no charge
 5Pay business levy to the Lusaka City Council
Agency: Lusaka City Council

All Businesses are required to pay a business levy to commence business activities.
1 day ZMK 450
 6Register for VAT
Agency: Zambia Revenue Authority

The VAT registration annual turnover threshold is ZMK 800,000 as per the VAT Act Cap 331 and Regulations. The case-study company would need to register for VAT. To obtain a VAT tax number at the Zambia Revenue Authority (ZRA), promoters must file the certificate of incorporation.
1 day no charge