- July 28, 2021
- Posted by: admin
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What are Company Secretarial Services?
Company secretarial services in Kenya are not the traditional work of a secretary, as the name might suggest, but rather it refers to the level of administrative function within a business that ensures good corporate governance, effective administration and compliance with legislation, laws and regulations that govern business and industry.
Managing corporate governance is essential for businesses. Your company must adhere to the Companies Act, comply with the law and legislation that governs their business and stringently maintain records, such as the holding of meetings, conduct of board members, any interactions with shareholders and stakeholders and any engagement with government authorities.
Here’s an in-depth look at why company secretarial services are important, and why outsourcing these services can be a smart move for your business.
With an intent to bring transparency and increased governance in the working of companies in Kenya, the Corporate Laws are witnessing changes at a rapid speed. The exponential growth in the level of compliance, coupled with stringent monitoring by regulatory agencies, are forcing corporates to become more compliant and vigilant in their dealing. Such development exposes both the Company and its Directors to higher regulatory risk if the importance of compliance is not recognized.
At 2Max Group, we can not only ensure that your organization is fully compliant with the applicable Corporate Laws but can also make your organization synergize with the ever-evolving regulatory framework w.r.t company secretarial services in Kenya so that companies stay prepared to take on such challenges head-on.
Our focused and expert Corporate Secretarial services Team in Kenya offers a wide array of customized solutions to meet your various needs.
The success of critical corporate transactions depends upon careful planning and the right advisory.
We provide end to end transaction advisory right from planning till execution and post-execution compliance
- Private placement of shares/debentures and other securities
- Buy-back of Securities
- Right issue of Shares
- Removal of Directors/Auditors
- Employee Stock Options (ESOP)
- Related Party Transactions (RPT)
In House Company Secretarial
With the rapid changes in the regulatory framework, it is necessary to work with organizations closely to ensure that they are fully compliant. Our inhouse Company Secretarial Services in Kenya offers a comprehensive package where we onboard as a long-term partner and work continuously throughout the engagement.
Under this package, we primarily offer solutions on Companies Act, 2013 and allied laws. Our company secretarial services in Kenya have the following components:
- Expert Advisory On Corporate And Allied Laws
- Holding & Convening Of Board/Shareholders Meeting
- Matter Related To Appointment/Cessation Director(S)
- Secretarial Compliances For Various Corporate Actions
- Statutory Records And Filings With Registrar Of Companies
- Updating Clients With Changes In The Regulatory Framework Through Magazine Corporate Laws 4 U.
Compliance Health Check (Secretarial Compliances)
In today’s regulatory environment, companies must ensure that they are following the laws of the land. While Companies do have specific divisions handling Secretarial compliance, it is also necessary that a regular third-party compliance check gets undertaken. Such an exercise keeps the internal teams vigilant and validates the compliance status of the organization.
- Undertaking a comprehensive assessment of the compliance status of the Company vis-à-vis the legal and regulatory framework under which it operates.
- The process includes a detailed review of internal records of the Company along with filings done with regulatory agencies
- Identifying the gaps in the compliance structure and recommending corrective actions required to minimize the risk and lay a foundation for a compliant organization
Company & other entity formation
Forming the right entity is the first and foremost important step in your business. Our team can help you understand multiple available options, including the regulatory obligations related to specific structures. Keeping your business objectives in mind, we can help you in choosing the right entity which suits your requirement in medium to long run.
Please take note that certain types of business in India are regulated by specific authorities, which have prescribed detailed guidelines for setting such business. In case you are engaging in such kinds of business, it is necessary to carefully examine such guidelines before taking any step.
Corporate Documents Retrieval
We can provide you with a host of documents filed by a Company with the Registrar of Companies, the local registry in India. Such materials might be required to ascertain its legal and secretarial compliances, creditworthiness or as a part of any due-diligence process undertaken in connection with any merger, acquisition or business funding.
With our expertise, we can provide the right documents/information promptly to meet your requirements. We can help in providing the following:
- Entity Status Check
- Certificate of Good Standing
- Certificate of Incorporation
- Charter documents like Memorandum of Association and Articles of Association
- Financial Statements like Balance Sheet, Profit & Loss account etc.
- Drafting of Annual Report
- Preparation of Register of Director
- Development of Register of Charges
- Annual Return
- Details of Shareholders and Directors
- Charges Search Report
We can help in obtaining various approvals required from the Registrar of Companies, Regional Director, Ministry of Corporate Affairs. Our understanding of the subject matter and expertise in dealing in such approvals helps in the presentation of the issue in the right manner, leading to successful results.
Company ClosureWe can help with closing your company most effectively and efficiently. Our team can advise the best possible ways of settling your company, its related impact and course of actions required to complete the exercise.
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