Kenya’s economy is promising for business start ups especially with the high level of unemployment amongst the youth. Starting a business this year in line with the big four agenda might be a great reap for the entrepreneur.
According to this article, there are a number of business sectors that have great potential in 2018 including agribusiness, fashion and beauty, hospitality, real estate and construction, entertainment and media, and food among others.
Business enterprises in Kenya have five principal types including Registered Companies (Private and Public), Branch offices of companies registered outside Kenya, Partnerships, Sole Proprietorships and Societies.
Company Registration
In order to register your company, you will need to reserve a company name and get it approved Registrar of Companies. You then prepare the Memorandum of Association and Articles of Association followed by completing various forms including Statement of Nominal Capital, Particulars of Directors and Shareholders, Situation of Registered Office and Certificate of a Lawyer involved in the Formation of the Company.
Thereafter you Stamp the Memorandum of Association and Articles of Association and the Statement of Nominal Capital at the Lands Office together with payment of stamp duty on Nominal Capital.
Finally, you file all the forms together with one stamped copy of the Memorandum of Association and Articles of Association with the Registrar of Companies.
At this point you will be issued with a Certificate of Incorporation by the Registrar of Companies. For public companies, in addition to the Certificate of Incorporation, the Registrar will issue a Trading Certificate
Opening a Branch Office of an Overseas Company
Your overseas company may be wishing to open a branch office in Kenya and you do not know the way forward? Read on to know what you should deliver to the Registrar of Companies.
First, is a certified copy of the Charter, Statutes or Memorandum and Articles of Association of the Company, or other instruments defining the constitution of the company as well as a list of the directors and secretary of the company, giving full names, nationality and other directorships of companies in Kenya.
You should also provide a statement of all existing charges entered into by the company affecting properties in Kenya together with the names and postal addresses of one or more persons resident in Kenya authorised to accept, on behalf of the company, service of notices required to be served on the company.
Lastly, you must give full address of the registered or principal office of the company in its home country and full address of place of business in Kenya.
Quick Tip: Register with KenInvest
Registering with Kenya Investment Authority will help reduce the bureaucracy you might face in licensing, immigration and negotiating tax incentives and exemptions from the relevant authorities.
Go ahead and fill the Investment Application Form, engage legal advice in Kenya, register your business, submit Application Form + Certificate of Incorporation + Articles and memorandum of association to KenInvest.
You will be then be issued with an investment Certificate after your project has undergone an Environmental, Health and Security impact assessments depending on the sector.
Download the necessary documents at KenInvest.
