There has been a growth in the private security sector in Kenya. This has been…
When starting a business in Kenya, one of the key legal obligation to operating your business is to have it registered a company.
There are some requirements that any entrepreneur planning to register their business under the Company Act. If you are an entrepreneur who is looking to register a private limited liability company, you will need to provide the following details;
- Entrepreneur should propose names (preferably two) that must be reserved pending registration. (Tip: In order to have a high success rate and save money at the same time while searching for your business name, make sure your name is not general. For example; try using more than one letter word, like Dealpoa Enterprise Ltd. or Dealpoa Solutions Ltd.)
- Purpose of the company that the entrepreneur wants to form. Have to be very specific not general. Describe everything you want to do. (For example; If you want to do fish farming, then you need to describe if you will be buying or selling them, rather than just stating “Agriculture”, that will be too general)
- Names of fellow entrepreneurs who would like to form the company, at least one. Give their occupation and postal address. (Preferably photocopy of ID or Passport)
- Registered Office of the Company. Please get the Land Reference Number (Plot No.) of the Building and Street Name, Road, Town
- Amount of Nominal Share Capital and Division of Shares thereof. % of share holding. (For example if there are two entrepreneurs starting a business, they will need to decide on the ownership structure with share allocation like 60%-40% or 70%-30% or 90%-10%. Minimum share value is Kshs. 100,000
- Proof of Identity Document of each company director. These documents are copy of ID, copy of KRA PIN Certificate and passport photo.
So, do you have a business idea and want to start it off, well you can have it registered as limited liability company today!