Navigating the Zimbabwean Economic Structure
As a corporate law firm in Zimbabwe we are constantly encountering questions about how to do business in Zimbabwe? Interested parties are keen to ascertain the difference between the rhetoric and perceptions they hear and come across and the reality of operating in this environment.
It is important as a corporate law firm in Zimbabwe to highlight that Zimbabwe notwithstanding its challenges, has continued to maintain an economic structure that is synonymous with a formalised way of operating. There are defined rules and laws to be complied with and these are a pre-requisite to operating.
The economy retains a fiscal regime, as well as a monetary framework albeit facing liquidity challenges. The pillars of the economy in our view continue to be Mining, Agriculture and Tourism.
However, there is a mixture of multinational players operating in all sectors of the economy. There is a well-documented taxation regime. Therefore, our general advice as a corporate law firm in Zimbabwe is to encourage those willing to operate in Zimbabwe to adopt normal business structures/ models. Simplify your business structures without compromising the essence of your enterprises. This will make it easier to navigate the local environment which still retains the hallmarks of conventional economic structures, crises notwithstanding!