Starting and operating a business in Kenya can be hectic at times if you do not have the basic requirements. The hustle of court cases, to the struggles of getting credible employees, is just a time consuming experience.
For now if you are out there and you are interesting in starting up a business in Kenya, I did a research and came up with various things you should consider before you transform your business ideas into a reality.
First and foremost you need to apply for business permit. A business permit must be obtained by any business operator wishing to conduct business in Kenya. The fee to apply for a business permit varies by type of business, number of employees, and size of the company’s premises. The fee is payable to the Nairobi City Council, Licensing Department. The City Council then issues a business permit. If it is a company you are registering then you need to;
- Reserve a company name and get it approved Registrar of Companies
- Prepare the Memorandum of Association and Articles of Association
- Complete various forms including Statement of Nominal Capital, Particulars of Directors and Shareholders, Situation of Registered Office and Certificate of a Lawyer involved in the Formation of the Company,
- Stamp the Memorandum of Association and Articles of Association and the Statement of Nominal Capital at the Lands Office together with payment of stamp duty on Nominal Capital.
- File all the forms together with one stamped copy of the Memorandum of Association and Articles of Association with the Registrar of Companies.
You will then be issued with a Certificate of Incorporation by the Registrar of Companies. For public companies, in addition to the Certificate of Incorporation, the Registrar will issue a Trading Certificate
After you are issued with a permit, you need to make a company seal. Seals are made by private entities that require evidence of a copy of the certificate of incorporation.
If you have cleared all that then you are ready to go!