About Private Business Corporations
What you should know…
A Private Business Corporation (PBC) is an alternative type of business structure which is popular with small businesses or indivduals (sole traders) or professionals who would like to operate as partnerships, such as accountants, lawyers, doctors, architects etc. but whose members want to enjoy limited liability. The key differences between a Private Business Corporation and a Private Limited Company are:
- A PBC does not have directors, shareholders or guarantors; instead it has members. There must be at least 1 member to register a PBC, and a maximum of 20 members.
- PBCs were once governed by the PBC act but it has since changed, they are now governed by The Companies and Other Business Entities Act (Chapter 24:32) the same as a Private Limited Company.
- A PBC is governed by PBC By-Laws and a PLC an Articles of Association.
Benefits of Private Business Corporation
- It’s cheaper to register through Companies Made Easy.
Registering Private Business Corporation
Companies Made Easy offers a dedicated PBC Packages for registering Private Business Corporations. Below are the key points about PBCs:
- They must be registered with the Companies and Intellectual Property (former Deeds, Companies and Intellectual Property [DCIP]).
- They should have atleast 1 member.
- They must have a physical and postal address.
Are you ready to register your company
Frequently asked questions
Who should register a PBC?
A Private Business Corporation (PBC) is a structure used by sole traders, small businesses, professionals working in industries that traditionally operate as partnerships, such as accountants, lawyers, doctors, architects, etc.
What is a PBC member?
An PBC member is the owner and is also responsible for the day to day running of the PBC. With a PBC, a member assumes both roles of being a director and shareholder. You must have a minimum of 1 member to register a PBC in Zimbabwe.
Who can be a member in a PBC?
A PBC member can be any person of any nationality, but cannot be a corporate body. Any individual who wishes to be a PBC member must not be a disqualified or another company or an undischarged bankrupt.
How do I register a Private Business Corporation in Zimbabwe?
Companies Made Easy offers an easy and affordable company registration service – just select any one of our Private Business Corporation Packages that you need and complete our application form online or at our offices. We will prepare all the neccessary documantation and your company will be ready to trade in 5-7 working days.
What are the mandatory annual filings of a Private Business Corporation?
Every Zimbabwean registered Private Business Corporation is required to prepare and file a Declaration of Business Continuance to Companies Registry each year.
A Declaration of Business Continuance informs the Companies Registry that a PBC is still in existence.
Are you ready to register your company?
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Companies Made Easy (Private) Limited. Registered in Zimbabwe at Pockets Building, 50 Jason Moyo, 2nd Floor, Suite 208 & 209, Harare, Zimbabwe.
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Companies Made Easy (Private) Limited is a licensed business consultant with the Deeds, Companies and Intellectual Property (DCIP) Zimbabwe's official Registrar of Companies which licenses company registration agents in Zimbabwe to carry on company regstration and/or corporate secretarial services with their office on behalf of clients.
Our DCIP license gives our customers confident that they are dealing with a reputable, qualified and regulated consultant.
Companies Made Easy is a member of ZACRA, the association of company registration agents in Zimbabwe.