What is a private limited company in Kenya?

What is a private limited company in Kenya?

Private limited company in Kenya is a legal entity established by two or more persons. There is no minimum number of shareholders. The shareholders are individuals. The shareholders can be any person of any nationality. Private limited company is taxed like a corporation under the Companies and Associations Act, Cap.68 legislation.

Private limited company is a limited liability company. A limited liability company is a company whose profit and loss is limited to the amount of the company’s shares that are held by the members at the end of the business year. The members do not personally guarantee the debts of the company. A limited liability company is formed by a member or a group of members with the intention of making a profit. Members can be individuals, partnerships or trusts.

A private limited company is a company that is owned by a specific group of people and not by the general public. The company is not required to have a name of its own and is not required to publish its accounts of income and expenditure. The shareholders of the company may hold shares for a personal or commercial purposes. Any person can be the member of a private limited company that can incorporate itself under the Companies Act. The articles of a private limited company are determined by and are registered under the Companies Act. An application for registration of a private limited company can be done online.

contact ocl business associates for private company registration in kenya