PBC (Private Business Corporation) is meant mainly for small business or start ups. It is easy and cheaper to register and it is also easy to administer since it does not require annual returns which should be filed for a Private Limited Company annually for a fee between $50 to $80. You cannot register as a PBC if you want to register a pharmacy since the requirements of the MCAZ or the RBZ which requires $20000 minimum authorized share capital for a micro finance company.
The PBC has been around for quite a while. The PBC Act dates back to 1993. The reason why it’s not popular is because most consultants generally don’t want to market it because it doesn’t bring as much revenue as the Pvt Ltd which costs $350 on average.
We can register your company in a period of 3 to 12 days it depends with your budget.
The PBC is a lot cheaper to register as it is government’s attempt to formalise the informal sector. It’s also specifically designed for small to medium businesses hence the attempt to reduce the price to accommodate smaller businesses who cannot afford the higher costs of registering a Pvt Ltd. Not only is a PBC cheaper to register, it’s also cheaper and easier to maintain. It has no annual returns and laws that govern it are pretty straight-forward.
Tax Registration and ITF263 (Tax Clearance registration is another process which is done in a period of two to ten days.
A PBC just like Pvt Ltd it can obtain a ITF263 (Tax Clearance) at Zimra, it can also be listed as a government supplier in the government gazette and you can also get a bank account of your choice in Zimbabwe.