What are the market entrance requirements in Zimbabwe for foreign investors?
There is no requirement for registration with any institution before a stockbroker can commence trading for a foreign client. However, there might be identification document and other requirements to be met by the client as required by stockbrokers.
Are there foreign restrictions on repatriation of initial invested capital and dividends?
There are no restrictions on repatriation of capital and dividends.
The sub custodian must confirm proof of inward remittance prior to repatriating funds. Delays may occur if the position was transferred from another custodian or the original foreign exchange inflow was done through a third-party bank.
Are there any foreign ownership restrictions and what disclosures are required?
The limit for an individual foreign investor is 15% of total issued share capital whilst the aggregate limit per counter is 49%. Foreign investors may exceed these thresholds with prior approval from the Reserve Bank of Zimbabwe (RBZ) and the ZSE.