PRIVATE BUSINESS CORPORATION (PBC)
Select a PBC Package suitable for you or call, text or WhatsApp to speak to one of our experts about registering your Private Business Corporation, ready to trade in 5-7 working days.
Read more about Private Business Corporation including the advantages of registering a Private Business Corporation and what information you need to provide below ↓.
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Here are some key things to know about a Private Business Corporation (PBC):
- A PBC is a business structure that allows for limited liability as in a Private Limited Company but where all partners/members are involved in management decisions.
- At least one member is required to register a PBC. The maximum number is twenty.
- Members’ liability is limited. Personal assets are protected from business debts like in a private limited company.
- It must have PBC as part of its legal name.
- Members should be individuals not other businesses.
- Declaration of continuance annual filing and other ongoing reporting is required to the Companies Registry.
- Profits/losses are distributed among members.
- PBC’s are taxed similar to a Private Limited Company.
- It provides advantages of shared management and liability protection of a company structure.
- Common use cases include partnerships of professionals like lawyers, accountants, architects, etc.
- Can be suitable for startups where founders want control like a partnership.
- Provides a flexible alternative to a private limited company for small businesses.
What are the advantages?
- Limited liability – Members are not personally liable for debts/liabilities of the PBC, protecting their personal assets like a private limited company.
- Flexible governance – Decision making power rests equally with all members like a traditional partnership through member participation.
- Shared management – Control and management is equally shared between participating members as opposed to rigid company structure.
- Continuity of business – A PBC continues operating even if a member leaves, retires or dies.
- Credibility with clients – Being a registered legal structure provides air of legitimacy for business dealings.
- Ownership incentives – Members are directly involved and motivated by profit share unlike diffuse public company shareholders.
- Asset protection – Personal assets of members remain protected even if the PBC incurs major liabilities.
Once an entity is set up, we provide a range of services to keep it in good standing—from post incorporation technical support to ongoing renewal and maintenance services—allowing clients to focus on their core business.
NUMERI OFFERS SERVICES TO INDIVIDUALS, SMALL TO MEDIUM ENTERPRISES (SME's), FAMILY OWNED BUSINESSES (FOB's) OR THOSE COMING IN THE ZIMBABWEAN JURIDICTION FOR THE VERY FIRST TIME, SPECIALISING IN BUSINESS ESTABLISHMENT, CORPORATE SECRETARIAL, TAXATION, FIDUCIARY SERVICES AND ADVISORY.
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