Starting a business in Kenya can be a great way to achieve financial independence and build a successful career. However, it’s important to understand the steps involved in registering a company before you get started.
Here’s a guide on how to register a company in Kenya:
Choose a company name
The first step is to choose a company name. The name must be unique and not already in use by another company. You can search for available names on the Registrar of Companies website on the ecitizen.
Prepare the necessary documents
Once you’ve chosen a name, you’ll need to prepare the following documents:
- Memorandum of Association: This document outlines the company’s objectives, structure, and management.
- Articles of Association: This document sets out the company’s rules and regulations.
- Statutory Declaration: This document is signed by the company’s directors and declares that the company has been formed in accordance with Kenyan law.
File the documents with the Registrar of Companies
Once you have the necessary documents, you can file them with the Registrar of Companies. The filing fee is KES 10,000.
Pay the stamp duty
The stamp duty for registering a company in Kenya is KES 5,000.
Get a company registration certificate
Once you have filed the documents and paid the stamp duty, you will receive a company registration certificate from the Registrar of Companies. This certificate is proof that your company is legally registered in Kenya.
Open a bank account
Once you have your company registration certificate, you can open a bank account in the name of your company. This will allow you to receive payments and make payments on behalf of your company.
Get a business permit
If you plan to operate a physical business in Kenya, you will need to obtain a business permit from the relevant authorities. The requirements for obtaining a business permit vary depending on the type of business you are operating.
As a business owner, you will be responsible for paying taxes to the Kenyan government. The types of taxes you will need to pay depend on the type of business you are operating.
It is important to get insurance for your business in case of any unforeseen circumstances. The type of insurance you need will depend on the type of business you are operating.
Market your business
Once you have registered your company and obtained the necessary permits and licenses, you can start marketing your business. There are a number of ways to market your business in Kenya, including online marketing, print advertising, and public relations.
Following these steps will help you register your company in Kenya and start operating your business legally.