Starting a business in Zambia: foreigner's guide (2026)

The Companies Act 2017 imposes no blanket cap on foreign equity; 100% foreign-owned private companies are permissible. A single foreign national may serve as the sole director. Citizen-reserved activities (artisanal/small-scale mining, certain retail and agriculture sub-sectors) are carved out under the Schedule to the Investment, Trade and Business Development Act 2022.

The process is: (1) name clearance at PACRA (up to 3 proposed names); (2) submit Companies Form 3 (local) or Form 38 (foreign branch) plus Declaration of Compliance (Form 11) notarised before a Commissioner of Oaths; (3) PACRA issues a Certificate of Incorporation, typically within 7 business days. Submission is available online or in-person.

The statutory minimum nominal share capital for a private company limited by shares is ZMW 15,000 (approximately USD 550 at mid-2025 rates). No paid-up capital must be deposited before incorporation. Public companies require ZMW 1.5 million. Sector-specific regulators (banking, insurance) impose higher minimums.

Foreign investors who wish to obtain ZDA registration (granting investment protections and facilitation) must demonstrate a minimum new investment of USD 1,000,000 for a wholly foreign-owned startup. A separate Investor's Permit from the Department of Immigration (to reside and manage the company) requires proof of at least USD 250,000 in new capital. The ZDA certificate is valid for 10 years and processing takes 10–30 working days.

After PACRA incorporation, a company must: register with the Zambia Revenue Authority (ZRA) for a Taxpayer Identification Number and relevant taxes (including VAT if turnover exceeds the threshold); register employees with NAPSA (pension), NHIMA (health), and the Workers' Compensation Fund Control Board. These steps add roughly 1–2 weeks but are largely processable online.

Act No. 18 of 2022, amended by Act No. 3 of 2024, is the primary FDI framework. It defines protected investments, dispute-resolution guarantees, and the list of reserved industries. The 2024 amendment refined investor definitions and updated facilitation provisions. UNCTAD's Investment Laws Navigator hosts the full text.