Non-Private Companies (Public) is a company that has more than 50 shareholders and whose shares are offered for public subscription and is traded on at least one stock exchange or in the over-the-counter market.
Requirements:
Open ended company.
No restriction on the maximum number of members.
The minimum number must be seven.
Any person may subscribe and buy shares in the company listed in the stock market and traded in shares.
The issuance of a prospectus in which the objectives, the proposed share capital, source of finances and general prospects of the company are stated.
A private company may be converted to a public one by merely amending its Articles of Association, increasing the minimum number to seven and issuing a prospectus.
Effective articles of association to regulate their relationships between members and directors and between dealers and stock brokers.
Procedures:
Pay a prescribed registrations fees Tshs. 45,000 for the whole application process.
Pay Tshs. 6,000 for Stamp Duty of the original Memorandum and Articles of Association,
Filing all the forms following all the directives.
Attach all supporting documents as prescribed.
Submit memorandum and Articles of Association, 14a and 14b
Note:
All payments are payable to the Registrar of Companies.
Source: Government Portal Content Team, Last Reviewed on: 24-11-2015