General Investment (GI) License
GI License refers to the allocation of private capital by individual or institutional investors into various projects or assets, typically without the need for a partnership with government entities. In this context, private investors independently decide where to deploy their funds, whether it be in stocks, bonds, real estate, startups, or other investment opportunities. The absence of a mandatory government or public sector partnership distinguishes general investments from certain public-private partnerships where collaboration with government entities is a prerequisite for participation.
Benefits of a General Investment (GI) License
An Investment Licence as issued by ZIDA is recognition of the foreign investment and activity that the investor wishes to undertake, hence proof that an investment is bona-fide in the country. It therefore gives added confidence to the investor to go ahead and establish the business activity in the country.
It assists the investor in securing post investment licensing permits/ approvals most of which are issued through Agencies/ Ministries in the OSISC located within ZIDA such as residence and work permits, mining permits, power generation permits, tourism permits, social security registration, ZIMRA registration, land acquisition, importation of equipment or any other requirements, accessing investment incentives where applicable.
Affords the investor protection of his investment in accordance with the laws of the country.
It enables an investor to raise capital needed for the implementation of the investment activity in the source country
Enables an investment to get priority in aftercare services when faced with specific challenges which may inhibit their operations through the Agency and its OSISC entities and other relevant stakeholders.
GI Application Requirements List:
- Non-Refundable application fee of USD500.
- Fully completed ZIDA 1 Application Form.
- Company registration documents including Memorandum and Articles of Association.
- Official List of Shareholders and or Directors.
- License fee of USD4500 upon approval.
NB: Power of attorney where application is made by an Agent or representative other than the investor
Requirements for renewal / amendment of GI License
Application letter addressed to the Chief Executive Officer stating the approval sought (amendment or renewal) and the following, if applicable:
- Change of company name
- Change of Address
- Change of financing
- Change of
- shareholding (attach CR2 and Capital Gains Tax Certificate in support of company shareholding structure)
Detailed Progress report (stating actual location of project, actual activity being undertaken, actual investment made to date against initial projection, actual jobs created, opportunities/future plans, challenges faced/ being faced in implementing project. The following should be attached in support of submission:
- Proof of investment in form of bank statement/ letter from bank/ ZIMRA declaration form in case of forex injection; bills of entry/ ZIMRA stamped invoices in case of capital equipment from abroad
- Three Months Company Bank Statement
- Employees list on company letterhead or bearing company stamp (showing name, ID number, date of engagement and position)
- Financial statements for the past 2 years of operation and projections for the next 2 years
- Current Tax Clearance Certificate
- NSSA Clearance Letter
- Factory Licence from Local Authority where applicable
- Sector permit where applicable
- EIA certificate where applicable
- Board Resolution on change being sought
- Letter of confirmation of resignation from outgoing shareholders addressed to the ZIDA CEO
- Proof of funds/ investment for incoming shareholder
- Certified Passport Copy of shareholder
- Notarised Copy of Certificate of Incorporation, Directors in case of a company
- Company registration documents and profile in case of a company
Any other relevant documents may be requested on a case-by-case basis
US$3 000 Renewal Fee to be paid upon submission of application.