Thursday, September 1, 2011

Easiest Way to Register Your Company in Kenya

There are 10 easy steps to company registration in Kenya. You begin at the Companies Registry at Sheria House.

1. Name search: It goes without saying. You need a name. This part take two days and costs under $5.

2. Prepare Memorandum and Article of Association: These documents describe the objectives, rules, subscribers and authorised share capital of your company.

3. Pay Stamp Duty: The amount of money that you pay depends on your declared nominal capital. You begin by collecting four forms from the Kenya Revenue Authority at Times Towers. Two copies go to the Lands Registry, one is retained by you and the other by the bank.

4. Declaration of compliance: A commissioner of oath must sign this form on your behalf.

5. File Deeds at Registrars office: You then need to file your documents at Companies Registry.

This includes your memorandum and articles of association. There is a varied fee attached to this.

6. Register for a Personal Identity Number, VAT & PAYE: This takes a day to register at Times Tower and is free.

7. Register for NHIF: NHIF stands for National Hospital Insurance Fund. This is mandatory medical contribution for your employees.

Register at the NHIF building.

8. Register for NSSF: NSSF stands for National Social Security Fund. It is mandatory to contribute to your employees retirement fund. Registration is done at the NSSF building at the bottom of Valley Road.

9. Register for a Business Permit: This application is made to the City council. You will need office space prior to submitting this application.

10. Get your Company Seal. This is the last bit. You can get good quality company seals from Seal Honey Stationers in Nairobi.