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What Is Company Registration?
So what exactly is company Registration? It’s a technical-sounding term — but its meaning is quite simple. Company registration services in Kenya is the process by which a new (or existing) business registers as a limited company.
A limited company is a helpful structure for entrepreneurs since it’s entirely separate from you. Your risk is — as the name suggests — limited. Any debt, losses, or legal claims associated with your company are not your responsibility. The company is a distinct legal entity. A ’person’ in its own right.
Many people in the Kenya, by comparison, are sole traders. This means the company and the owners are one and the same. A limited company clearly demarcates the person and their business.
This is a great benefit — but it’s more admin. Like anything in life, it’s a trade-off. But one that’s worth making if you’re serious about growing your business long-term.
Everyone in Kenya has a dream to start a business. Everyone wants to start a company to move forward with this dream and turn it into a reality. Therefore, there exists company registration services in Kenya. Through the Incorporation of a company, you can start your business legally where you are provided not the only infrastructure of growth but also assistance from the government.
Online Company Registration Services in Kenya.
Company registration services in Kenya is an important process for a proprietor to build a business. There are different types of Companies in Kenya, so businessmen need to select the right type of company for their business. Companies in Kenya are controlled under the Ministry of Attorney General. Registering a company in Kenya is effortless through Online, as it is processed completely online. At least one Director is needed to proceed as director and shareholder. To register a company one needs the Director’s KRA PIN, address proof, Copy of Passport, Passport photo among others.
Company incorporation service in Kenya is the lawful process to set up a legal organization or company. A corporation is an emerging lawful entity that is resulted from the detachment of the company’s assets and earnings from its owners and investors. We provide quick and inexpensive company registration services in Kenya through a 100% online procedure. Our services are trustworthy as thousands of companies in Kenya have been registered through us.
Can a Foreigner Register a Company in Kenya?
Foreign nationals wishing to register and own a company in Kenya may do so under either appointing a local representative/local director or registering as an Investor
What are the types of Companies you can register in Kenya?
To start any business in Kenya, you need to register your company with the Kenya registrar of companies. Registration with Kenya Revenue Authority PIN number is also needed for tax returns. There are several types of business entities that you can register to do business in Kenya.
Registration of a Business Name/Sole Proprietorship
The Business Name is the simplest business form under which one can operate a business. The Business Name is not a legal entity. It simply refers to a person who owns the business and is personally responsible for its debts.
Registration of a Private Limited Company
A company is limited by shares if the liability of its members is limited by the memorandum to the amount, if any, unpaid on the shares respectively held by them. A Private Company is also a company that is restricted from inviting the public to subscribe to its shares. The membership of a Private Company is restricted to a maximum of 50 members.
Registration of a Public Limited Company
Its Articles allow its members the right to transfer their shares in the company and the articles do not prohibit invitations to the public to subscribe for shares or debentures of the company. The name must end with the expression “Public Limited Company” or the abbreviation “PLC”.
Registration of a Company Limited by Guarantee
A company limited by guarantee (CLG) is an alternative type of corporation used primarily for non-profit organizations that require legal personality. This type of company does not have share capital and its members are guarantors rather than shareholders. The liability of members is limited to the amount they agree to contribute to the company’s assets if it is liquidated.
Registration of a Registration of a Foreign Company
This type of a Company is a Branch of a Company registered outside of Kenya, that has established a place of business in Kenya.
Registration of a Limited Liability Partnership
Limited liability partnerships commonly referred to as LLPs are unique forms of business association that combines elements of a company with those of a partnership. Upon registration, an LLP becomes a body corporate with a legal personality separate from its partners.
Process of Company Registration in Kenya.
The Kenya Business Registration Services Act 2015 aims at easing the operation of businesses in the country. The Business Registration Service has its headquarters in Nairobi but has branches in every county for easy access to services. This in essence means that the services such as incorporation of companies, registration of business names and partnerships are devolved to the counties promoting local business ideas/legal entities reduce costs of registration and operations, which were initially being offered in Nairobi only.
STEP 1: Company Name Reservation
You must first Register on eCitizen and apply for company name reservation,once the name is available and confirmed,you will be able to download name reservation certificate.
STEP 2: Company Registration
Execution of forms CR1, CR2, CR8 and statement of Nominal capital. Once the name is approved and reserved. The company registration forms are executed and signed by the subscribers and directors of the company.
STEP 3: Taxpayer Registration
Once the Company is Registered, You must Apply for company Kenya Revenue Authority (KRA) pin Certificate downloadable after approval.
STEP 5: Obtain Unified Business Permit
Once the company is Registered and pin Obtained, you are ready to start doing business but you need a trading license in respective counties to start doing business.
STEP 6: National Hospital Insurance Fund (NHIF)
Every Employer in Kenya is supposed to submit a hospital insurance fund for Registered Companies in Kenya. This is But of business Compliance and is advisable to be done immediately you register your Company in Kenya.
This fund is mandatory for all employers in Kenya.Must be submitted on monthly basis to the authority.
Company Registration requirements in Kenya
Registration, and by extension incorporation of both private and public companies follow the same procedure in Kenya. The necessary requirements for registration are;
1. Proposed Company/Business name
The proposed business name search is conducted to ensure it is not similar to an existing registered business. If approved, it is reserved for 30 days. BRS requires a minimum of 3 names to be submitted.
2. Objectives of the Business
This is essentially the business that the company is being set up to carry out. This business must be entirely legal and not against public policy.
3. Names of the Directors, contact details and email
For transparency and accountability purposes, KRA requires that the director’s information be indicated on the application for registration.
4. Proof of Identification
A valid and unexpired proof of identification must be provided for each director. A national identity card suffices for Kenyan citizens
5. Passport Photo
A clear and recent passport photograph must be provided for each director and officer of the company.
6. KRA PIN
All directors whether resident or non-resident are required to provide a Kenya Revenue Authority (KRA) Personal Identification Number (PIN) certificate copy to prove registration with the tax authority.
The following forms must be signed by all directors and submitted during registration
7. Form CR1 – This is the company registration form.
8. Form CR2 – This is the Memorandum of company with share capital
9. Form CR8 – This is the notice of registered address form and
10. Statement of Nominal capital by all Directors.