There are several steps that you need to take to register a real estate agency in Zimbabwe. This article will take you through these steps so that you know exactly what is needed. These steps will help you to be compliant with the law. Legal compliance not only helps your business grow, but to survive competition and succeed.
1. Register your company as a PLC
Register your company as a Private Limited Company.
2. Register with the Estate Agents Council
If you want to register a real estate agency, register with the Estate Agents Council for authorization.
Requirements of the Estate Agents Council
- Open a trust account with a commercial bank into which all moneys must be deposited.
- Must have a principal registered estate agent in charge of the trust account.
- Letter from bank confirming opening of trust account with initial bank deposit.
- Complete EAC 3 and annual return forms (available at the Council).
- Letter from Chartered Accountants stating that the agent has been explained the system of bookkeeping in connection with trust accounts.
- CR 14 indicating the Principal Registered Estate Agent as one of the Directors.
- Certificate of Incorporation or Partnership agreement.
- If the principal agent has been working for another firm then a closing audit is required.
- The Principal Registered Estate Agent must be an executive director and main signatory to the trust account, and a letter is required to this effect from the bank.
- Indigenization compliance certificate.
- Police clearance for the directors.
- Registration fee
3. Register with NSSA
Register with NSSA for pension and workers compensation insurance. You can get NSSA registration services can help with registration and the monthly returns.
4. Register with ZIMRA
Register with the Zimbabwe Revenue Authority for tax purposes. You can also get a tax consultant to help you with ZIMRA registration and tax returns.
5. Register with NEC
Get NEC registration with the appropriate NEC for your industry for improved work relationships.