What exactly is it, and what are the prerequisites?
The bank advice note is the initial step toward obtaining a corporate bank account in order to obtain a ZIMRA Tax Clearance Certificate. The bank advice note’s objective is to provide lenders with information about your company’s name, location, and directors.
THE PROCESS OF GETTING A BANK ADVICE NOTE
1. Register your company
The first step in setting up your new account is to create a corporation, which we can handle for you. To get help with company registration, click the button below. This way, you’ll be able to immediately comply with local rules and begin the procedure.
2. Apply for the bank advice note
To open a company bank account in Zimbabwe, you must first obtain a tax clearance certificate. Because it is impossible to obtain tax clearance without a bank account, the tax authorities issues a special license to the bank, allowing new businesses to open a business account without first obtaining tax clearance. A bank guidance note, or simply a bank opening letter, is what this is called. The procedure necessitates the use of your company’s original documents.
2. Apply for the bank advice note
To open a company bank account in Zimbabwe, you must first obtain a tax clearance certificate. Because it is impossible to obtain tax clearance without a bank account, the tax authorities issues a special license to the bank, allowing new businesses to open a business account without first obtaining tax clearance. A bank guidance note, or simply a bank opening letter, is what this is called. The procedure necessitates the use of your company’s original documents.
KEY THINGS THAT MUST BE INCLUDED IN YOUR TRUST DEED
The Trust Deed must set out at least the following:
- Name of Trust
- Objectives of the Trust (which must be lawful)
- Beneficiaries of the Trust
- Details of the Founder and Trustees (minimum three (3) Trustees) – The Trustees which must be identified in full name, identity number and addresses registered with the Registrar of Deeds
- Address of the Trust