HOW TO CONVERT A BUSINESS NAME INTO A LIMITED COMPANY IN KENYA
Convert A Business Name Into A Limited Company In Kenya – Most Start Ups in Kenya start as a Business Name and then Later on convert the it into a Company. The process to convert a Business Name into a Company in Kenya is usually undertaken so that the Business can enjoy the Benefits of a Limited company that include but are not limited to the Following;
- A Limited Company in Kenya is regarded as an Independent legal Entity, so as a shareholder your liability is limited to the extent of your share Contribution in the company.
- They outlive the life of the Shareholders in case of death of a shareholder because the shares can be transferred to another entity.
- A Limited Company has a strong competitive advantage that allows for larger profits.
- A Limited Company provides a more professional image. In some instances, certain sectors, contractors or agencies will prefer to work with a Limited Company because of the legal protection it provides.
The Procedure to Convert a Business Name into a company in Kenya is as Follows
- The First step will be to link the business on the BRS Portal so as to verify information details and Business ownership.
- The next step will be to deregister the Business Name by Filling form BN 6.
- Upon successful deregistration, the business will cease operations, and then you will be free to register a Company as per the requirements for Company Registration in Kenya under the Company’s Act.
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