Registration of a Kenyan Company and Charges
The inception, growth and maturity of a personal company is an individual's trophy in the entrepreneural and business world at large. However, the process requires a number of activities achieved such as its registration which will go a long way in creating its identity as well as marketing it to the consumer of its products. Writerstake.com takes the reader vividly through the now simplified registration process of a company below:
1. Business name
To begin with, identify, and reserve your company's name for at least 30 days by parting with ksh100/= for the process at any nearest Huduma Centre or through the e-citizen platform. The search process allows for the search of a single company name each time.
2. Download and complete the registration form through a provided link.
3. Thirdly, acquire the services of a commissioner of oaths or advocate to aid in preparation of a modifiable MOA and AOA which imply the Memorandum of Association and Articles of Association respectively.
4. Information is required after reservations of the company name to facilitate your venture's documentation process. The type of information required entails:
a) The Directors' details
The Director's details in the form of full official names as indicated on passport, their current occupation, a postal and residential address, share allocations of each director with none below 1%, and proof of your identification details through a copy of the original ID or passport, KRA PIN certificate(foreigners need none) and clear passport size photos.
b) Company Details
• You will provide two or more names for the company when conducting a search.
• You will be required to disclose the business's nature; the 2015 Company Act allows free trade in consultancy businesses.
• You will have to disclose your company's location highlighting the land, premises and have your residence serve if there's none yet.
• Each director is then required to put sign to the following documents:
Company Registration Application Form (Form CR1), Memorandum (CR2), Notice of Directors' Residential Address (CR8), Notice of Nominal capital share and Cessation form where applicable.
The signed documents are submitted to the Companies' Registrar while parting with a few for incorporation of ksh2800/=. The Certificate of Incorporation if registration(ksh1000/=) is affirmed, will reach you in about a fortnight.
Your company's registration is proceeded by initializing a company bank account with an internationally renowned commercial bank for instance Standard Chartered and a deposit of the share capital proposed. This done, the business floor is all yours.