Starting a business in Zambia

Legal Forms of Companies

Limited Liability Company (LLC)

Number of partners: minimum two shareholders and two directors (at least one director must be resident in Zambia)
Capital (max/min): ZMK 15,000
Shareholders and liability: liability is limited to the assets of the company

Unlimited Liability Company

Number of partners: minimum two shareholders and two directors (of any nationality). Maximum fifty shareholders
Capital (max/min): no minimum capital required
Shareholders and liability: members have unlimited liability for the company’s debts and liabilities

Public Limited Company (PLC)

Number of partners: minimum two shareholders and two directors (of any nationality)
Capital (max/min): ZMK 1 million
Shareholders and liability: liability is limited to the assets of the company

Company Limited by Guarantee

Number of partners: minimum two partners
Capital (max/min): no minimum capital required
Shareholders and liability: each member must sign a declaration of guarantee, specifying the amount he undertakes to contribute. If the assets of the company are insufficient to cover its liabilities, the liability of its members is limited to the amount guaranteed

Business Setup Procedures

Source: Doing Business - Latest available data.