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Starting a Business in Kenya as a Foreigner has become easy overtime especially if you engage a consultant to hold your hand throughout the process.
US $ ≥100,000
- Investment deductions
- Tax Rebates
- Tax Refunds
- Tax Holidays
Approximately US$ 110 Billion with a population of 52 million (Kenya) and 200 million (EAC) Region.
56th out of 196 Countries.
- Private Companies
- Public Companies
- Limited Companies by Guarantee
- Limited Companies by Shares
- At least 3 names for conducting a Name Search to ensure that the name is available for you.
- Copy of your valid Travel Passport or Kenyan ID Card (In case you will have a Kenyan Shareholder / Director)
- Passport size Photo
- Telephone Number, Physical, email and Postal Addresses of the Directors and Shareholders
- Occupation of the Shareholders and Directors
- Shares apportionment percentage in case the company has More than 1 shareholder.
- Once all the requirement documents are put together, the following documents area processed: CR1, CR2, CR8 and the statement of nominal capital is signed and submitted to finish the process.
- If the process is successful, the investor will be issued with a Certificate of Incorporation and CR12.
Yes. Foreigners can fully own a company in Kenya without having a Kenyan director or co-owner.
- First is to apply for an Investor Certificate, then this is followed by; Alien card, then PIN Certificate, then work Permit
- (Done by various government agencies and they’re online and it is expected that each agency will process the requests expeditiously.)
- Class A– For investors intending to engage in prospecting for Minerals or Mining.
- Class B– For investors wishing to invest in Agriculture and Animal Husbandry.
- Class D– For investors offered specific employment by a specific employer who is qualified to undertake that employment.
- Class G– For investors in Specific Trade, Business or Consultancy.
- Class I-Issued to investors in the Country for Religious or Charitable Purposes.
- Class K –For investors who have an assured income derived from sources outside and undertakes not to accept paid employment of any kind.
- Class M– Work permit issued to Conventional Refugees.
The applicable taxes are:
- Corporation Tax.
This tax levied on corporate entities such Limited companies in Kenya. This tax is also imposed on companies based outside Kenya but have subsidiaries or branches in Kenya. The corporation tax rate in Kenya is 30%.
- Value Added Tax. (VAT)
This tax is imposed on taxable goods produced in Kenya or importation of taxable goods into the country. The tax policy in Kenya has set the VAT tax rate at 16%
PAYE
EXCISE DUTY
IMPORT (customs) DUTY
- Visa issuance – Application Form
- Copy of passport (Personal Information Pages)
- Registration Certificate of a foreign-invested company
- Copy of business registration certificate or corporate registration registry
- Certificate for completion of Foreign Currency declared at the Customs on entry.
- Remittance Transaction Statement in case of remitting the investment money.
- Copy of certificate of foreign currency purchase
- Copy of office lease agreement.
- Bank Statement.
There are benefits of registering your business, these include but are not limited to:
- Identity - Once you have registered your business, it acquires a unique identity. A business cannot share the same identity with another business.
- Safety and security - Registering your business separates you (owner) from risks involved in doing business. This way, the business can attract more partners, investors and can even be insured.
- Continuity - In the eventuality that the owner of the business dies, the business still lives on. One’s next of kin or partner can take over and continue with the business.
- Growth - It is increasingly easier to grow your business once it is duly registered. With registration, you can have a bank account for your business, and this can enable you get access to credit that can help you expand it. Registering will also help you to separate your personal income from that of the business.
- Trust - Generally, clients and suppliers easily develop trust for a business that they know has been registered in Kenya. Upon registration, your business is declared legal. Registration also makes it possible to have investors.
- Whilst there are no real legalities as to how much time you have to set up your limited company after you have begun trading, it is recommended that you should have registered at least six months before the new tax year (April).
- Before commencing any business activities , one is required to register and seek all relevant permits
- Between 1 day and 30 Days
- Setting up a company in Kenya can take anywhere between 1 day and 30 Days. This depends on the type of business you wish to establish, as well as the type of registration required.19 Jul 2022
- A Business Name registration will take an average of 3 days to process. After business name registration what next? After the registration of the Business name, you shall apply for a PIN certificate.
The processing time for the certificate of incorporation is 21 days after lodging your registration documents.13 Feb 2023
Do you still have any further questions?
For any further inquiries relating to Tax Advisory services kindly feel free to speak to us by calling us on 0746190753 or filling out the form below.
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1st Floor, Suite 8,
Ngong’ Road,
P.O. Box 4700 - 00506
Nairobi, Kenya.
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