The Ultimate Solution for Company Setup in Kenya
The Ultimate Solution for Company setup in Kenya – Company formation is one of the most important step for an entrepreneur looking to have is entity legally registered. Registering the company in a particular country makes it a resident company and hence it has to follow the relevant company law in that specific country. Usually, business owners prefer to start their new setup in any country where they can get a good return on investment after the sale of their products and services. It is often easy for successful companies to scale their business in new territories by setting up branch or subsidiary companies.
Company Setup in Kenya is now governed by the companies act 2015. This new act has made the process to register and maintain an entity in Kenya much easier.
Here are some of the reasons why investors prefer to invest and engage in Company Setup in Kenya
- Kenya has a diversified economy with lots of opportunities in all the sectors.
- Kenya has an affordable and available skulled labor force
- Kenya’s high & middle income earners has greatly increased and hence creating more demand in the economy
- Kenya ranks very well in the ease of doing business index
- Kenya is stable politically and has favorable investment policies.
How to Register a Company in Kenya?
The companies act 2015 gives the registrar of companies to register companies and keep a record of all entities registered in Kenya.
A business owner who is willing to register a company in Kenya should have to lodge with the registrar with the following documents.
The applicant should submit a unique company or business name. The business or company name will only be registered if it is nor similar to any other registered name.
- Once the name is reserved, you will receive a name search reservation certificate valid for 30 days.
- The following additional details will be required in order to complete Company Setup in Kenya
- Proposed Office physical and postal address of the Company in Kenya
- Complete detail of directors and shareholders ie, copies of their travel passport, passport size photographs, National ID, phone number, share apportionment percentages, occupation and the residential, email and postal address
3. Once the above documents are available, the consultant / company secretary will then prepare the requisite form to be signed by the director and shareholder in order to complete the Company Setup in Kenya.
4. Once the duly signed documents are submitted to the registrar of companies, the companies undergoes a few approval stages before eventually being approved in about 3 days.
5. On approval, the business owner is issued with the company Registration certificate, Company CR12 and a company Tax Registration number
Read more about the Costs of registering a company here
These are the basic steps for company setup in Kenya. The process is slightly different for companies 100% owned by foreign companies or individuals. This is because the company KRA pin will not be automatically issued. The foreign director / shareholder will have to show a bank statement with at least USD 100,000 in order to process their individual tx registration and eventually apply for the company tax registration.
How to find an expert to guide you on company setup in Kenya
Fortunately, the internet has made it easy for us to search for experts in a particular field. Once you search get a list pf professionals in company setup in Kenya, be keen to carefully choose the consultant who is most knowledgeable in your industry, one with a proven track record and fits your budget. You have the option to request for a physical or online meeting so that you can easily agree on the deliverables as the consultant gets to understand your needs in depth. It is beneficial to engage a consultant to assist you with the process because they are usually updated on the recent policies in the business environment and company setup in Kenya
In summary, it is important to protect your interest by registering your business or company name to deter any one else from using such a name in Kenya. The company set up process is now much easier and straightforward and usually takes about 7 working days to fully complete the process,
Feel free to contact us for more info on company setup in Kenya
