Filing Of Annual Returns And The Effects Of Non-compliance In Zimbabwe

• Published date: 21 July 2023
• Subject Matter: Corporate/Commercial Law, Corporate and Company Law, Directors and Officers
• Law Firm: Zenas Chambers, ChimwaMurombe Legal Practice
• Author: ChimwaMurombe Legal Practice

More often than not, people register their companies with the company registry and neglect the obligation that comes coupled with such registration for example the filing of annual returns amongst other things. This article therefore serves to enlighten over the implications that come with the failure to meet the obligation of filing annual returns for a company.

To begin with, annual returns refers to a statutory return in terms of the Companies and other business entities act which is supposed to be lodged by all private limited companies in Zimbabwe with the companies registry to which serves the purpose of giving a snapshot of important (non-financial) information about the company's internal structures. This information includes the company name, its registered address, the number of class shares and those taken, the company directors, auditors and secretary to mention but a few.

These annual returns are supposed to be lodged with companies registry after every 12 months from the date at...