How To Register A Company In Kenya
Before you start trading legally, it is advisable to register a company in Kenya. There are 5 legally recognised business entities which include Registered Companies(private and public), Branch offices of companies registered outside Kenya, Partnerships, Sole proprietorships and Co-operatives. For the startup business, you are mainly going to consider registered private company, partnership or sole proprietorship. In this article, we will cover registering a private company. There are only a few things that you need to have in place before you start off. You need to have
- Company Name. See tips on how to choose your company name
- Registration Forms. The business registration forms are now simpler.
- Correct Fees for Stamp Duty and Professional Legal Services. I recommend that you get the best Kenyan legal advisor you can afford
- Address where your Company will be Registered
- A simple business plan
Once you have these in place, you need to get the business documentation ready. Of course I assume that you already have your vision statement, mission statement, goals and objectives. The business documentation that you need to prepare to support your registration are the Company Memorandum and Articles of Association. You will submit these during the registration process therefore it is important you understand what the function of each is. Again you will need the services of your legal advisor to ensure that you complete the correct paperwork and submit them to the appropriate office. The final step will be to purchase a company seal which is required to open a business bank account and also acts as the company signature. Success! You have registered your company. Now you need to run your business profitably - that takes work and effort. Are you stuck for great Kenya business ideas?