Company Registrations and Establishing an Entity in Kenya
Small scale businesses are providing more and more jobs in Kenya. With increased but simplified regulations, they are able to blossom into large, legitimate businesses that can eventually create more jobs and government revenue.
The step by step guide to registering a company in Kenya is:-
- State registration of legal entity, statistical, and tax registration with the Center for Public Registration.
- Stamp the memorandum and articles of association, and a statement of the nominal capital
- Pay Stamp Duty at a designated bank
- Sign the Declaration of Compliance before a Commissioner of Oaths or a Notary Public
- Register with the Registrar of Companies at the Attorney General Chambers in Nairobi
- Register with the Tax Department for the single taxpayer identification number online (PIN)
- Apply for a Business Permit
- Register with the National Social Security Fund (NSSF) & National Hospital Insurance Fund (NHIF)
- Make a company seal after a certificate of incorporation has been issued
Business Banking in Kenya
An in-country bank account is required to process the payroll in Kenya. Central Bank of Kenya is tasked with formulating and implementation of monetary and fiscal policies.
Working Days in Kenya
Most businesses in Kenya are open from Monday to Friday, though some also trade on Saturday. Business hours are 9:00am to 5:00pm, closing for an hour over lunch (1:00pm – 2:00pm). Banks are open from 9:00am to 3:00pm Monday to Friday. Some branches open on Saturdays from 9:00am to 11:00am.