Terms & Conditions

  1. PayRo-Biz aims to efficiently and effectively complete Zambian company registration within four weeks by i) choosing the optimum regulatory license for our Client’s business activities ii) reserving a company name with PACRA iii) settling our accountant and lawyer fees and iv) preparing a high quality company incorporation application for PACRA;

 

All  engagement fees (click link) are agreed and paid up front and agree to the fees published on our country web pages. Consequently, there are no hidden fees, surprises or ambushes throughout the engagement. All engagement deadlines are agreed up front in the form of a detailed project plan, mapping out deliverables by week throughout the engagement term;

 

Every week during the engagement, PayRo-Biz will email our Client a detailed status update. Our Client is immediately informed of engagement problems together with solutions. Your dedicated engagement manager is reachable by phone, Skype, live chat and email and will communicate in your preferred language;

 

 

  1. In accordance with the Zambian Companies Act (click here), each Zambian Company must appoint a company secretary, who may be a natural person or a body corporate, but the company secretary must be resident in Zambia. If required, PayRo-Biz will be the legal Zambian Company Secretary and our annual responsibilities will include i) preparation and filing of the legal Annual Return ii) securely maintain company records and chop iii) liaise with the Zambia Government on behalf of our Client and iv) legal filing of changes of company structure and v) reminding our Client of statutory deadlines;

 

In accordance with the Zambian Companies Act, a Company shall as from the date of its incorporation have a legal registered office in Zambia, to which all official Government communications and notices may be addressed. To comply with this statutory requirement, PayRo-Biz Zambia business office will be the registered office address for your Zambia Company. Thereafter, this address will be used to receive Government correspondence including i) tax letters ii) notice of the legal annual return; and iii) all government communications. Most of our Clients wish to place PayRo-Biz’ office address on invoices, contracts, websites and business cards;

 

 

  1. PayRo-Biz will be pleased to open a Zambia corporate bank account without our Client travel. It  is  a  time  consuming  task,  and  Healy  Consultants  will  shelter  our  Client  from  the associated administrative challenges. As you can appreciate, it is a difficult task to obtain bank account approval through a newly formed company when shareholders, directors and bank signatories reside overseas.  PayRo-Biz will prepare a business plan for the bank to optimize the probability of corporate bank account approval. Depending on our Client’s business and nationality, there is a 20% probability the banks will request a bank signatory to travel for a one hour bank interview. PayRo-Biz will try its best to negotiate with the bank for a travel exemption. If our Client must travel to Zambia for corporate bank account opening, PayRo-Biz will refund our Client US$950;

 

The banks enjoy ultimate power of approval of corporate bank account applications. Consequently, guaranteed success is outside of PayRo-Biz’ control. What is inside our control is the preparation and submission of a high quality bank application that maximizes the likelihood of approval.

 

Global banks continue to tighten corporate bank account opening procedures, their internal compliance departments completing more thorough due diligence of Clients. Consequently, our Clients should expect the bank account approval period to take up to 4 weeks. Furthermore, global banks now require evidence of proof of business in the country where the corporate bank account will be, including sales contracts or lease agreement;

 

 

  1. This fee is an estimate of government costs payable during your Firm’s engagement. All government fee payments will be supported by original receipts and invoices. Examples of government costs include i) reserving the company name; ii) obtaining the certificate of incorporation with PACRA; iii) registering with Zambia Revenue Authority and iv) applying for business license with Lusaka City Council. Following engagement completion, PayRo-Biz will refund our Client any excess of funds received over actual Government costs paid;

 

 

  1. In accordance with Zambia Tax Act, each entity must register for corporation tax and VAT at the Zambia Revenue Authority;

 

 

  1. For an active trading company, these accounting, audit and tax fees are an estimate of PayRo-Biz fees to efficiently and effectively discharge your annual company accounting, audit and tax obligations. Following receipt of a set of draft accounting numbers from your company, PayRo-Biz will more accurately advise accounting, audit and tax fees. For a dormant company, our fees are only US$950;

 

 

  1. All fees quoted in this invoice correspond to fees quoted on our website. Please review this invoice carefully to identify errors. During the rush of the business day, it is possible that we inadvertently made fee calculation errors, typing errors or omitted services or omitted historic fee payments from Clients. In the unfortunate event you identify invoice errors, please revert to me directly re the same. I apologize in advance if I or my staff made invoice errors;

 

 

  1. Assuming our Clients re-engage us in subsequent years, this fee is an estimate of the fees payable for the year, 12 months after the date of company registration;

 

 

  1. The fees quoted in this invoice are an estimate of the fees required to efficiently and effectively complete this engagement in a timely manner. If during the engagement Healy  Consultants realizes that the project is more complex than anticipated, requiring a large additional investment of time, my Firm will revert to request additional fees. If PayRo-Biz completes the engagement faster than expected and more easily than expected, PayRo-Biz is happy to refund some fees to our Client;

 

 

  1. Engage PayRo-Biz to project manage business set up in every country on the planet. We are the best in the world at what we do, timely completing  the A to Z of every country engagement;

 

 

  1. In accordance with Zambia Companies Act, the issued share capital of ZMK10,000 (equivalent to US$2) must be deposited to the company bank account before incorporation. To optimize engagement efficiency and minimize delays, PayRo-Biz is happy to deposit these funds on behalf of our clients;

 

  1. In accordance with Zambia Companies Act, each Zambia LLC must have at least one individual director ordinarily resident in Zambia. If required, PayRo-Biz will be pleased to provide your firm with a professional nominee director in Zambia. Our fee amounts to US$6,150 per annum;

 

 

  1. If our Client and PayRo-Biz properly plan this engagement, our Clients’ will not have to travel during this engagement. PayRo-Biz will efficiently  and  effectively  complete  company registration and corporate bank account opening in a timely manner without our Client presence. Instead, our Client will need to i) sign and get  documents  legalized  in  the  embassy  in  their  country  of  origin and ii) courier the originals to PayRo-Biz office;

 

 

  1. Depending on our Client’s business and nationality, the Zambian Government may require a special regulatory license to carry on your business in the country. PayRo-Biz will assist our Client secure license approval; there may be additional engagement fees. However, the Government enjoys ultimate power of approval of company registrations and business licenses;

 

 

  1. If our Client requires non-resident nominee shareholder and director services (click link), PayRo-Biz will be pleased to assist. Our fee for professional, passive nominee non-resident corporate shareholder amounts to US$2,100 per annum. Our fee to be both non-resident nominee director and shareholder amounts to US$6,600 per annum. Being the sole shareholders and sole director of a Client’s company exposes PayRo-Biz to reputation, litigation and financial risk;

 

 

  1. If required, Healy  Consultants  will  be  pleased  to  assist  your  firm  to  secure  employee   visa approvals.   Our fee is US$3,950 for the first employee, US$2,950 for the second employee, US$1,950 per employee thereafter. Our employee visa fees includes preparation of a quality visa application and  submitting  to  the  correct  Government  immigration  officers.  The  Government enjoys ultimate power of approval of visa applications. Consequently, guaranteed success is outside of PayRo-Biz’ control. What is inside our control is the preparation and submission of a high quality immigration visa application that maximizes the likelihood of visa approval;

 

 

  1. Some of our Clients request PayRo-Biz to provide temporary shared office space for 6 months until their preferred business premises is found. If your Firm requires this service, our one- time fee is US$950. Monthly rental thereafter is paid directly to the landlord, independently of PayRo-Biz;

 

 

  1. Monthly, quarterly and mid-year Government tax obligations include monthly and quarterly payroll reporting, VAT and corporation tax return filing. If you need our help, PayRo-Biz can complete monthly Government reporting for a monthly fee of US$860. PayRo-Biz monthly support will include i) receive in dropbox the monthly invoices from our client ii) label monthly bank statement transactions iii) preparation and submission of VAT returns and iv) submission of monthly employee payroll reporting;

 

 

  1. It is important our Clients are aware of their personal and corporate tax obligations in their country of residence and domicile. Let us know if you need PayRo-Biz help to clarify your local and international annual tax reporting obligations;

 

 

  1. During the engagement, shareholders and directors’ documents may need to be translated into the local language;  before  the  Government  and  Bank  approves  company  registration  and corporate bank account opening respectively. Consequently, our Client should budget for possible additional translation and embassy attestation fees. Either our Client or PayRo-Biz can complete this administrative task;

 

As always, PayRo-Biz will negotiate with all third parties to eliminate or reduce additional engagement costs. For transparency purposes, all third party fee payments will be supported by original receipts and invoices. Examples of possible third party payments include i) embassy fees ii) notary public costs iii) official translator fees;

 

 

  1. Some of our Clients’ require an immediate country solution. With this strategy, within a day PayRo-Biz can supply our Client i) an existing dormant Zambian company number and ii) an already approved Zambian corporate bank account number and iii) a business address. Turnkey solutions are attractive to those entrepreneurs who wish to immediately close a country deal, sign a contract or invoice a customer;

 

 

  1. As stipulated on  our  business  website  and  in  section  3  of  our  engagement  letter,  PayRo-Biz will  only commence  the  engagement following  i) settlement of our fees and  ii) completion and signing of our legal engagement letter;

 

 

  1. PayRo-Biz will only incorporate your company after 75% of due diligence documentation is received by email. PayRo-Biz will only open a corporate bank account after 100% of the Client’s original due diligence documentation is received by courier;

 

 

  1. During the annual renewal engagement with our Client, our in-house Legal and Compliance Department (click link) reviews the quality and completeness of our Client file. Consequently, PayRo-Biz may revert to our Client to ask for more up to date due diligence documentation;

 

 

  1. To assist our Clients to minimize foreign exchange costs, we offer the payment in SG$, Euro, Pounds or US$. Kindly let me know in which currency your Firm prefers to settle our fees and I will send an updated invoice, thank you;

 

 

  1. Some of our Clients’ engage PayRo-Biz to recruit (click link) local employees. We have a lot of experience in this area and we are quite skilled at securing quality candidates for our Clients’;

 

 

  1. To efficiently and effectively complete your engagement in a timely manner, we recommend your Firm transfers these funds to PayRo-Biz corporate bank account. Thereafter, our Incorporation and Banking Team will aggressively advance your engagement, providing your Firm daily feedback as to engagement status. I would be grateful if you email us the bank transfer advice slip to enable my Accounting Department to accurately and timely identify bank receipts:

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