During the registration process, a foreigner will only use their passport to register the company unlike for locals who require a Kenya Revenue Authority PIN for registration. Company registration is done online through the ecitizen portal.
Can a foreigner set up a company in Kenya?
Generally, Kenya requires that foreigners wanting to own, or run a business in Kenya to obtain a work permit from the Ministry of Immigration. The type of permit applied for will depend on whether the foreigner will be an owner of the business or simply an employee (to be elaborated further below).
Can a foreigner be a director of a Kenyan company?
It can be wholly owned by a foreigner and some argue that a work permit may not be required in its formation. There is no requirement for a resident director or a company secretary.
How can a foreigner get a business license in Kenya?
To register it, the CR1, CR8 and Statement of Capital forms need to be filled, and a memorandum of the company and its articles of association should be drafted. The names, addresses, passport photos, KRA PIN certificates and a copy of their IDs, local or alien, of the directors and shareholders, are also required.
Can a foreign national or non resident of Kenya register an independent firm in Kenya?
Can a foreign national or a non resident of Kenya register an independent firm in Kenya? Yes, a foreign national or a non resident of Kenya can register an independent firm by following the legal procedure of registering a foreign firm in Kenya.
Can a foreigner start a business?
Starting a Foreign Citizen Business in the US
In fact, there are no restrictions on foreign citizens generally. You do not even need to have a green card to start your business or purchase a corporation or Limited Liability Company (LLC) that is headquartered in the US.
How do I register a limited company in Kenya?
How to register a Limited company in Kenya.
- Name Search. The proposes company name has to be searched and reserved by the registrar of companies.
- Execution of forms CR1, CR2, CR8 and statement of Nominal capital. …
- Application for registration. …
- Registration and issuance of certificate of Incorporation.
- PIN application.
Can a foreigner own land in Kenya?
Foreigners can own property in Kenya in their name. The Constitution (2010), the Lands Act (6/2012) and the Land Registration Act (3/2012), subject to certain limitations, grant the right to any person, either individually or in association with others, to acquire and own land in Kenya.
What is a private limited company in Kenya?
The Kenya private limited company (also known as a limited liability company) is the type of business entity most commonly used for Kenya business setup by both local and foreign entrepreneurs; … In accordance with the Kenya Companies Act, there is no minimum share capital requirement when setting up a company in Kenya.
How much is Kenya residence permit?
The annual fee for the permit is USD 2000 which translates to Kshs. 200,000 and the permit lasts for a period of two years. The applicant may also be required to provide a security bond amounting to Kshs. 100,000/= for a period of three years.
What is required to register a company in Kenya?
To register a company in Kenya you shall require the following information and documents.
- Proposed company names for name search approval. …
- Objectives of the Company. …
- Names of the shareholders in Full.
- Names of the Directors in full if different from the shareholders.
- Contact information of the directors / shareholders.
How can I get capital to start a business in Kenya?
6 Creative Ways to Raise Capital For your Small Business in Kenya
- #1: Use Retained Profits.
- #2: Take Advantage of Asset-Based Financing.
- #3: Look For a Venture Capitalist to Fund You.
- #4: Join a Chama and save.
- #5: Take Advantage of Angel Investors.
- #6: Use Peer-to-peer Lending Networks.
How does a foreigner get KRA PIN?
PIN registration is an online process done on iTax. Residents receive their PIN Certificate instantly after completing the online registration form. Non-residents receive an acknowledgement receipt which they should present to Times Tower, alongside other relevant documents, to complete their registration process.
What is Pvt Ltd company?
A private limited company is a company which is privately held for small businesses. The liability of the members of a Private Limited Company is limited to the amount of shares respectively held by them. Shares of Private Limited Company cannot be publically traded.
Who is a non resident in Kenya?
do not have a permanent home in Kenya but were: present in Kenya for 183 days or more in that year of income, or. present in Kenya in that year of income and in each of the two preceding years of income for periods averaging more than 122 days in each year of income.
Does a sole proprietor need a business license in Kenya?
Business permits are necessary for Kenyan sole proprietors due to regulations and requirements depending on the type of business.