Before you can be able to start trading and running business legally in Kenya, it is advisable to register your company. Registering a company in Kenya, especially in Nairobi, is not tedious tasks unlike many people in Kenya are misled to think. People might be wary of the long queues at the auditor general’s office at Sheria House in Nairobi, but that should not deter you from having your business registered. The Auditor General’s office in Nairobi is in Sheria House near Treasury House in the city square. In that case, if you have been thinking about registering your business in Kenya, today is the right time for you to do just that.
In Kenya, there are five legally recognized business classifications. These include; Registered Companies in Kenya (both private and public), Branch Offices of any companies registered out of the country, Business Partnerships in Kenya, Co-Operatives and Sole Proprietorships in Kenya. If you want to register a start-up business in Kenya, you will have to consider the registered private company option, sole proprietorship or partnerships.
In this article, I will discuss the process of registering a private company in Kenya. There are a few things or requirements which you ought to satisfy before the commencement of the entire process. Here is a look at the major requirements in this case;
Company Name of the new business in Kenya
You need to come up with a unique company name or name for your business that you want to start in Kenya. The registrar of businesses in Kenya will conduct a search before registration so as to make sure that you are not using a similar name with another business that has already been registered. When you are asking for the initial name search, you will have to submit your application to the offices at Sheria House in Nairobi together with an application fee that is Ksh. 500. Once the name has been confirmed available, you will be issued with a letter that allows you to go ahead and register your business in Kenya. Here are some tips that will help you in choosing a good business or company name in Kenya;
When choosing a company name in Kenya, remember it has to be memorable and easy to spell, It needs to be a visual element that closely relates with your service industry, It ought to have a very positive connotation, It has to be short and It has to include some information about what you do.
Registration Forms when registering a new business/company in Kenya
You can get your business registration forms from Auditor General Offices in Nairobi Kenya. The offices are in the CBD of Nairobi in Sheria House. After that, you can proceed to fill in the details and then return the forms for action. Business registration in Kenya normally takes up to a month, but you can work with reputable brokers and have the process completed in less than two weeks. Of course, that depends on how fast you would like to have things running in your business.
Fees for legal services and stamp duty in Kenya
In this case, you will have to seek the services offered by legal advisors in Kenya. It is advisable to go for the best in Nairobi town. If you already know of some established business minds in Nairobi that might be the best place to start from. You cannot go wrong when you are dealing with the experts in Kenya since they understand about business registration process in Kenya.
Include the Business Address in Kenya
The address where your business would be located is the other most important requirement in Kenya to satisfy when you are registering your private company. In this case, all the details you give have to be true and credible. The address should reflect your ideal business location in Nairobi.
A business plan for Your New Business in Kenya
Last but not least, you will have to come up with a simple business plan for your business in Kenya. A business plan in Kenya is basically an outline of what your business does, where it is located, the kind of people it serves, your objectives and goals, capital investment and shareholder agreements. Once you have these details right, you can rest assured that registering your business here in Kenya would be more of a walk in the park.