What are the requirements for company registration in Kenya?
This is one question that has been on the minds of many people seeking to start a business in Kenya. This question comes up a lot because Kenya is definitely one of the most stable and fastest growing economies in the world. This is a great place to start a business as the country has international standards for doing business. To get into business in Kenya, you need to start a company, so the question of what requirements are needed for company registration in Kenya is something that you will have to decide on yourself. However, there are a few things you need to know before making your decision. First, you cannot register a business without a legal entity. A legal entity is a company, limited company or even an association, but there are 2 different types of legal entities in Kenya: Company registration and Company registration. Company registration is when you register a company in Kenya. To register a company, you need to have an established business of at least 2 years. That company needs to have at least 3 shareholders, and those shareholders need to be Kenyan citizens. To be a shareholder is to own the company, and thus make it a legal entity of your own
To Register a company in Kenya, you shall require the following.
- Name Search The Proposed company name must be searched and reserved pending registration. Names can only be reserved for thirty days. Application for reservation of a name are made filling out Form CR 14 and be accompanied with the prescribed fee.
- Documents prescribed for incorporation of a company. The company Memorandum and Articles of Association – Highlights the objectives of the company, the subscribers, the share structure of the company and the subscribers to the Memorandums and Articles of the company. – Form CR1 – Application for registration of a Limited company, Unlimited company or a company limited by guarantee. – Form CR2 – Model memorandum for a company with a share capital. – Form CR8 – Notice of Residential address of the Directors. – Statement of nominal capital – Declaration of Nominal Capital of the company.
- Only companies with a Nominal capital of over Kshs 500,000 are required to have a Certified company Secretary.
- The Statement of Nominal capital is exempted from stamp duty under the new company regulations
- Registration – Certificate of Incorporation is processed and issued thereafter.
Requirements for company registration in Kenya.
To register a company in Kenya you shall require the following information and documents.
- Proposed company names for name search approval.- 3 names in order of priority.
- Objectives of the Company. The nature of Business / activities the company shall undertake.
- Names of the shareholders in Full.
- Names of the Directors in full if different from the shareholders.
- Contact information of the directors / shareholders. – Postal addresses, Email address and Telephone Number.
- Number of shares to be held by each shareholder.
- Proposed Physical address of the company. The Physical Address includes road, plot number, town, county.
- Email address of the company. Distinct from that of the directors / shareholders.
- Contact information of the company – Postal addresses and Telephone Number.
- Copy of ID / Passport of the Shareholders / Directors.
- Passport photos of the Shareholders / Directors.
- Copy of tax PIN certificate of the Shareholders / Directors.
An application is then made to the registrar of companies. Upon a successful application, a certificate of incorporation is issued to the directors/shareholders of the Company. Notice to the Public – Notice of the registration of the company is published in the Kenya Gazette,