Registration of a sole proprietorship Company for foreigners
Registration of a sole proprietorship or business name is just a simple entity the address and date of registration. The first step in registering it is to do a name search. This is done on the “e Citizens” platform and enables the person to reserve a name they wish to give to their business, after which the registration can take place. Tits type of entity can be wholly owned by a foreigner. The form to be completed is called a BN2 form, which lists out details of the business owner. One requires a copy of their Passport. This whole process is done online on the eCitizen portal. It normally takes 7 days to complete.
Incorporation of limited liability partnership for foreigners
The second entity to start a business in Kenya as a foreigner is a limited liability partnership (LLP). Limited companies are a type of entity that allows the partners to separate their personal liability from the liability of the partnership. with the flexibility of a partnership. The minimum number of partners for this entity is two while the maximum is twenty. The partners can either be natural persons or corporate bodies. A manager who is resident in Kenya must be appointed at the point of registration.
How to register a limited liability partnership business in Kenya as a foreigner
If you want to register a LLP, you should first look for a name on the eCitizen portal. Afterwards, you fill out an LLP1 form. An agreement between the partners is called a limited liability partnership partnership agreement should also be signed by all the partners at the time of registration. However, with respect to the provision of the official agreement during registration, although it is legal, it is not required. A letter of consent from the manager is also required KRA PIN certificates, and copies of the IDs, both local and alien, of the partners and manager are required. KRA PIN registration is currently done at the Registrar of Companies, currently located at Sheria House.A limited liability company is among the best business entities for a person who wants to start a business in Kenya as a foreigner. It can be wholly owned by a foreigner and some argue that a work permit is not necessary.
Requirements for A Foreigner to open a company in Kenya
A business needs to be registered in order to start a business in Kenya. The name reservation forms and the CR1, CR2, CR8 and Statement of Nominal Capital are required to be filled.Starting a public company is more complicated for a foreigner than for a Kenyan. A public company is an entity mainly intended for business and public investment. If you, as a foreigner, are looking for an entity in which to invest your money, if you want to start this type of business in Kenya as a foreigner, keep in mind that it requires a resident Kenyan representative and at least 30% of the shares must be held by Kenyans.,i would say reword it. A minimum of seven shareholders are required for this type of company. A Kenyan resident company secretary is also required. Shareholders and directors can be corporate bodies, but at least one of each must be natural persons. To register it, the CR1, CR8 and Statement of Capital forms need to be filled, and a memorandum of the companyy and its articles of association should be drafted. The names,addresses, passport photos, KRA PIN certificates and a copy of their IDs, local or alien, of the directors and shareholders, are also required. The company’s name and the address of the registered office should be given in the CR1 form. A foreign company can be formed to operate within the country, or it can be formed to be registered overseas. It is possible to form a foreign company in Kenya, but it may be held by a Kenyan. It is best to form a foreign company in the country where the business will be located so that, if any tax requirements must be met, the Kenyan company can collect the necessary tax, not the international company. Other Requirements for Foreign Companies in Kenya The Kenyan law states that a foreign company has a maximum duration of ten years. After seven years, the company must undergo a re-registration process and be registered in the statutory name of the company. All the shareholders and managers who formed the company in Kenya must also re-register by filing a CR2 form,