Kenya, authoritatively known as the Republic of Kenya is encircled by Uganda, Tanzania, South Sudan, and Ethiopia. Being quite possibly of the quickest developing country in the Sub-Saharan region is thought of. This blog will explain the documents required for company registration in Kenya.
Numerous documents required for company registration in Kenya
You will need to present the following documents in order to register a business in Kenya:
Name of proposed company
You must offer a name for your prospective firm. To make sure it is not already in use, this name will be compared to the corporate name database.
Memorandum of Association (MOA)
This document describes the goals of the organisation, its operations, and the members’ rights and obligations.
Articles of Association (AOA)
This document outlines the internal policies of the corporation, including those that control how the corporation is run, how directors are chosen and removed, and how earnings are allocated.
Form CR1 for company registration
This form, which can be received from the company registrar, contains fundamental details about the firm, including the proposed name, the kind of businesses it engages in, and the names of the directors.
Copy of the directors’ national identification cards or passports
Each director is required to present a copy of their passport or national identification card.
Declaration of compliance (CR8)
A lawyer or notary public’s signature is required on this declaration of compliance (CR8), which certifies that the company’s incorporation complies with the Companies Act.
Share allocation and ownership
This document indicates the number of shares in the company and their respective ownership.
Tax identification number (TIN)
You will need to obtain a TIN for your company from the Kenya Revenue Authority (KRA).
A business permit or license
Depending on the type of business, you may require a permit or license from the relevant government agency.
Proof of payment
You will need to pay the registration fee, which varies depending on the type of company.
It is advisable to seek professional advice from a lawyer or accountant to ensure that you have all the necessary documents and comply with all legal requirements for company registration in Kenya.
The legal requirements for company registration in Kenya
These are the legal prerequisites for registering a business in Kenya:
- Company name: Pick an original company name for your business that is distinct from any others already operating in Kenya.
- Memorandum and Articles of Association: The company’s goals, operations, governing principles, and members’ rights and obligations are all described in the Memorandum and Articles of Association.
- Shareholding: One shareholder are required as a minimum and fifty shareholders as a maximum for a company to be registered in Kenya. Individuals or business entities may own the shares.
- Directors: A business must have at least one natural person director who is over the age of 18 and is also a natural person. The director(s) must additionally reside in Kenya and not be in bankruptcy.
- Company Secretary: A corporation must have a natural person who is a Kenyan resident and is also the company secretary. They must also be a part of a professional organisation that the Kenyan government has approved.
- Registered Office: A firm must have a registered office in Kenya where it can receive service of process for any legal documents.
- Capital: Kenya does not have a minimum capital requirement for the formation of a corporation.
- Taxation: All businesses in Kenya must register with the Kenya Revenue Authority (KRA) for tax purposes and get a Tax Identification Number (TIN).
- Licenses and Permits: Depending on the nature of the business, a company may need licences and permissions from the appropriate governmental organisations.
- Registration Fee: Upon registering, a business must pay the Registrar of Companies a registration cost.
It is significant to note that depending on the type of company and the commercial activities it plans to engage in, the requirements for company registration in Kenya may change. To make sure that you are in compliance with all legal obligations, it is advisable to seek expert guidance from Odint Consulting.