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How To Start A Business Firm In Kenya

How To Start A Business Firm In Kenya

May 11, 2023 8:16 pm

Kinlark-nafas Nafasi

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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.

About the Author

Kinlark-nafas Nafasi

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Born amidst the bustling economic hub of Nairobi, Kinlark Nafasi's story is deeply rooted in the entrepreneurial spirit that defines Kenya's capital. As a young boy, Kinlark's inquisitiveness was piqued by the vibrant business activities around him, from the busy street vendors to the towering corporate offices that painted the city's skyline.

This early intrigue was the catalyst for his academic pursuits at one of Kenya's top universities, where he majored in Business Administration. While in university, Kinlark's natural flair for articulating complex business concepts and trends became evident. His articles, often peppered with astute observations and data-driven insights, caught the attention of not just his professors, but local business periodicals as well.

Upon graduation, Kinlark quickly established himself in the world of business journalism. His deep understanding of the African market dynamics, combined with a global perspective, made his writings invaluable. He covered a wide array of topics, from the challenges faced by startups in Nairobi to the macroeconomic policies shaping the East African community.

Kinlark's articles have since been published in renowned international business journals, earning him a reputation as a leading voice on African business matters. Beyond journalism, he has been instrumental in organizing business forums and conferences, fostering a dialogue between entrepreneurs, policymakers, and investors.

Today, Kinlark Nafasi continues to chronicle the evolving business landscape of Kenya and Africa as a whole. Through his writings, he endeavors to inspire the next generation of African entrepreneurs while providing critical insights to investors and business leaders worldwide.