How To Start A Business Firm In Kenya

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Just like any other civilized nation, Kenya has a strict legal framework that all entrepreneurs and business starters have to follow when setting up their entities. It is largely considered bureaucratic, but there is no shortcut about it. Therefore, it is always important to be on the safe side.

Procedure

  • Come up with a unique name for your firm and reserve it at the companies registry.

  • Stamp the Memorandum and articles of association plus a statement of the entity's nominal capital.

  • Settle the required stamp duty: this is usually done at the National bank which collects revenue on behalf of the Kenya Revenue Authority (KRA).

  • Sign the declaration of compliance: this usually occurs before a notary public or commissioner of oaths.

  • Register your firm with the Registrar of companies: this is done at the Attorney General Chambers in Nairobi City.

  • Register for taxes at KRA offices.

  • Apply for a business permit.

  • Fill in National Social Security Fund (NSSF) and complete registration and NSSF offices.

  • Fill in National Hospital Insurance Fund (NHIF) forms and submit at the NHIF offices.

  • Obtain a company seal: seal makers need a certificate of incorporation to perform this task.

Although this appears to be strenuous, it is the law so it has to be followed accordingly. When all the above are fulfilled, it is the owners' responsibilty to get the firm up and running.

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