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REGISTRATION OF A FOREIGN COMPANY A foreign company is a body corporate registered under or by virtue of the laws of another country. It is therefore registered in Zambia as a branch of the company in the country of origin. A foreign company must at all times have at least one and no more than nine (9) individuals called 'local directors', empowered and authorized to conduct and manage all the affairs, properties, business and other operations of the company in Zambia. At least one local director of the company must be resident in Zambia, and if the company has more than two local directors, more than half of them should be resident in Zambia. The company shall not decrease the number of local directors if the Registrar directs it in writing not to do so and one of the local directors, being a local director who is a resident of Zambia, must be designated as the local chairman. A person shall not be appointed as or continue to hold office as a local director of a foreign company if that person is: | 1. | A body corporate; | | 2. | An infant or any other person under legal disability; | | 3. | Any person prohibited or disqualified from so acting by any order of a court; or, | | 4. | An undischarged bankrupt. |
Click here on how to register a Foreign Company
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