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Business Registration in Kenya for foreigners
Kenya is the leading economy in East and central Africa and hence attracts a good number of foreign investors. Business Registration in Kenya for foreigners follows a process and has various requirements. What is registration of a business?
Registration is an act of recording information or a name on an official list. Business is an organization or any entity engaged in commercial, professional servicers or industrial actives.
Business registration refers to the process of enlisting a business entity or enterprise with the registrar of companies within a particular jurisdiction.
Why international investors usually consider registering and operating businesses in Kenya;
- Availability of highly skilled labor.
- It is the hub of trade in east and central Africa hence more suitable for penetrating the whole region.
- Easy to maintain the business operation due to low taxes charge.
- Easy to market and advertise products since there is a wide range of digital platforms and 70% of the population is connected to internet.
- It is a peaceful country.
Requirement for registration of a company or business in Kenya;
- You need 3-5 names to search. The first available name is the one to be registered.
- Must have at least one Kenyan director with 30% shareholding.
- Articles of Association of which one can choose to adopt the ones in the system
- Location of business: street, building, floor and office number.
- Estimated annual turnover of the business
- Email address of business.
- Posta address of the business.
- Total number of shares and value for each share
- Phone number that will be used by the business
Directors and shareholders need to have the following:
- Full Names of the shareholders and directors
- National ID number(s) or passport(s)
- KRA PIN number,
- passport size photos,
- Postal address,
- phone contacts,
- email address
- Director’s residential location
- Number of shares that each director is supposed to get
- Purpose or objective of the Business
- Type of influence that each director will be having. It can either be direct or indirect. One should also state who has the powers to appoint directors in the company.
What one should have after registration
- Company Certificate
- CR 8
- Statement of Nominal Capital
- KRA PIN certificate
- KRA tax compliance certificates
Registration and compliance services maybe tiring to those doing it for the first time. Suitable Network is always there to make sure that we support startups during this process. If you are looking forward to start any type of business in Kenya, get in touch with us and we will be able to guide and any assistance within our capability to you. You can contact us via email, calls, text messages or whatsapp. The email address is email@example.com while the phone number in +254722717744.