Investment in Zimbabwe

Investment Opportunities in Zimbabwe
Zimbabwe has a wealth of exploitable resources in the form of:

• Agricultural output, vast timber plantations and natural forests
  
• A wide range of minerals that include, gold, platinum, coal and diamonds among others that are under exploitation with discoveries of new ones being made all the time.
  
• A diverse wildlife in the country's many parks and sanctuaries.
  

Procedures for investing in Zimbabwe
Company Registration
All companies in Zimbabwe have to be registered by the Registrar of companies under the Companies Act or the Private Business Corporation Act. Upon successful registration, the company obtains a Certificate of Incorporation. Only the locals are allowed to operate under the corporation Act as private businesses such as sole trader.

Investment Project Approval and Registration
All new foreign investment into Zimbabwe requires an Investment Authority upon successful approval of a project proposal submitted to the authority. A completed application form (ZIA 1) acts as the project proposal. The application forms are available and can be collected from the ZIA offices or down-loaded from the ZIA website (www.zia.co.zw)

Licence Fee Structure
A processing fee of US$500 non-refundable shall be paid on submission of the application and the US$2500 shall be paid when the licence is issued.

Residence, Visa/ Work Permitts requirements
Visas are not required for certain listed countries available from the Department of Immigration and in other cases;visas may be applied for in advance of arrival from the Zimbabwe Embassy and Trade Missions. Investors who:

• Invest not less than US$1 million in a project approved by ZIA will qualify for permanent residence on application.
  
• invest at least US$300 000 in a sole business venture in a project approved by ZIA will qualify for a residence permit for 3 years at the end of which permanent residence may be granted.
  
• Invest US$100 000 in a joint venture, approved by the ZIA, with a bona fide Zimbabwean will qualify for a 3 year residence permit at the end of which permanent residence may be granted.
  

Any foreigner wishing to take up employment in Zimbabwe must first be in possession of a valid work permit. Immigration regulations permit local companies to employ foreigners under temporary work permits. Such permits are issued by the department of immigration, at their discretion, upon application by the company, which sgould provide proof that the requisite skill cannot be sourced locally. the foreigner will only be permitted to work within the capacity for which that specific permit was issued. Spouses and minors may reside in Zimbabwe provided that they do not take up employment

Exchange Control Regulations

Foreign Capital Inflows
Foreign investors and visitors may bring an unlimited amount of foreign currency into the country. Foreign investors may bring equity into the country in the form of cash or machinery and equipment. Foreign investors are not permitted to capitalize, as part of equity; raw materials, technical and licensing fees and other services.

Repatriation of Investment
The Zimbabwe Government guarantees the repatriation of 100% of the original capital investment

In the case of disinvestment.

• Up to 100% of dividends from net after tax profit may also be remitted.
  
• Investors who become permanent residents may not remit their dividends