The process of registering a business in Kenya is rigorous and is guided by a number of provisions under the law. When registering a company in Kenya you begin by reserving a name at the registrars of companies, the process takes 30 days at a cost of KES (Kenyan Shilling) 100 per name. The next step is to stamp the memorandum, articles of association and a statement of nominal capital. The process is handled by the Kenya Revenue Authority (KRA).
The parties requiring to register the company are supposed to provide their personal identification number to the stamp duty officer and then to the KRA for payment through their designated banks. The process is charged at about 1% of the nominal capital plus KES 2,020 on memorandum and articles of association. The payment to the KRA at the bank has a KES 100 commission fee. Following the payment, you sign the declaration of compliance before a commissioner of oaths of notary public at a cost of KES 200.
After your documents have been approved and deemed compliant for registration, you may then go on to register the company at the registrar of companies which is under the attorney general's office in Nairobi.
The entrepreneur is expected to provide:
The incorporation deed
A statement of capital
AOA (articles of association)
Notice of situation of the registrar office
Particulars of directors and secretary
Declaration of compliance with the companies act
Company name approval
If you are working with KES 100,000, you will pay KES 2,200 for every KES 2,000 for the first KES 100,000, there is KES 120 subject to maximum of KES 600. The filing fee for all the three forms is KES 600. You then register for tax at the Kenya Revenue Authorities at no charge.
Next, you need to apply for a business permit which will be at the cost of KES 1000, this takes a minimum of 5 days to process. You also need to register with the social services providers including the National Social Security Fund (NSSF) and the National Hospital Insurance Fund (NHIF). Lastly you need to make a company seal, required to provide the certificate of incorporation, the cost of which ranges from KES 2,500 - KES 3,500.