Registration of public limited company in Kenya
Below are the requirements for a Local Public Limited Company as per the New Companies Act 2015
In the new Act, a Public Limited Company is defined under Section 10 to mean;
⦁ A company whose articles permit its members to the right to transfer their shares in the company
⦁ Its articles does not prohibit invitations for the public to subscribe for shares or debentures of the company and
⦁ A company whose incorporation or formation states that is a public company
The process of registering a public limited company shall be completed upon meeting of the following requirements.
⦁ Company name proposed for name search approval.
⦁ Company objectives. The nature of Business and activities the company will
⦁ Names of the shareholders in Full.
⦁ Names of the Directors in full if different from the shareholders.
⦁ If any of the directors are foreigners then a Kenyan director and shareholder is needed. ocl business associates can also act as their Kenyan nominee director at a nominal fee since the new Companies Act provides for a minimum of 2 directors for a public limited company.
⦁ Postal and Email address and Telephone Numbers of the shareholders and Directors.
⦁ Number of shares to be held by each shareholder.
⦁ Proposed Company’s physical address and the Directors. The Physical Address should includes road, plot number, town, county.
⦁ Copy of ID / Passport of the Shareholders / Directors.
⦁ Passport photos of the Shareholders / Directors.
⦁ Copy of iTax PIN certificate of the Shareholders / Directors.
The documents to be filed for registration are CR 1, CR 2, CR8, CR 10, CR 12 and Statement of Nominal Capital
Under Section 516 a public limited company cannot be issued with a trading certificate unless it meets the minimum kshs 6,750,000 nominal value of a public listed company’s allotted share capital. The Public Limited Company should have a Company Secretary at all times.
Initial Nominal capital is exempt from payment of Stamp duty.
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