Here are the ten major steps to follow when registering a business in Kenya.
1.) Choose a name – Conduct a name search online to know if your preferred business name is in existence.
2.) Reserve your name – Write a letter to the registrar of companies to reserve the name. Your request could either be accepted or rejected if it is against the regulations of registration or it is already taken by another entity.
3.) Engage an advocate to prepare your company’s Memorandum and Article of Association and Statement of Nominal Capital.
4.) Pay Stamp Duty. The amount of money to be paid is based on the nominal capital. The minimum amount payable is Sh2,140 based on the minimum nominal capital of Sh2,000.
6.) Fill in the ‘List of Directors Form 203’, which lists the directors and secretary of the company.
7.) Commissioner of oaths signs the ‘Declaration of Compliance Form 208’ on your behalf.
8.) File documents at the Companies Registry where you pay the registration fee. This includes your memorandum and articles of association. You should receive a certificate of incorporation after 21 days.
9.) Get yourself a company seal.
10.) Register for your company’s Personal Identification Number (PIN), Value Added Tax and Pay-As-You-Earn with the Kenya Revenue Authority.
You also need to register with the National Social Security Fund (NSSF) and the National Hospital Insurance Fund (NHIF).