We are happy to inform you that our company will be having a huge discount…
Local residents and foreigners will soon be able to register a limited company as a single director in Kenya.
Currently, to register a limited company, you require a minimum of 2 directors. But that is about to change based on the current Companies Bill 2014 which is being debated by the parliament.
According to Hon. Samuel Chepkong’a, Chairman – Justice & Legal Affairs Committee, you can now register a company as an individual as single director. You do not need to look for a partner to register the company. The current law inhibit one person to register a limited company.
During the debate that took place on the 9th July 2015, Hon. Tom Kajwang’ – MP, Ruaraka suggested that the new law should also help businesses that have an annual turnover of Ksh. 5 million or less to be not compelled to have a company secretary to perform company returns. You should be able to simply fill the returns as a director rather than hiring a company secretary.
However, if your company is generates more than Ksh. 5 Million annually, you will be required by law to acquire the services of a company secretary in order to make your company returns.
I believe this will attract more people in registering a limited company as it will be much more easy once this Bill sails through in the third reading before it becomes law.
It is commendable that the Kenyan Government is working hard to improve the environment for doing business.
I truly believe that Kenya is heading to the right direction in joining some of the developed countries who have made it very simple and easy for entrepreneurs to register their business within a short period and with less red tapes or bureaucracy.
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