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company registration fee in kenya
Company Registration Fees in Kenya
The cost of registering a company in Kenya varies depending on the type of company you are registering. The Business Registration Service (BRS) is responsible for registering companies in Kenya. The BRS has an online platform called eCitizen where you can register your company.
Types of Companies and Their Registration Fees
Here is a breakdown of the company registration fees in Kenya:
Registration of Business Name: Ksh 950 ($95)
Private Limited Company: Ksh 10,650 ($107)
Public Limited Company: Ksh 10,650 ($107)
Unlimited Companies: Ksh 20,050 ($205)
Other Costs Associated with Company Registration
In addition to the registration fees, there are other costs associated with registering a company in Kenya. These costs include:
Name Search Fee: A nominal fee charged by the BRS for conducting a name search to ensure that the chosen name is available.
Professional Fees: If you are using a company registration agent, you will need to pay their professional fees.
Stamp Duty: Stamp duty is payable on the memorandum and articles of association of the company. The amount of stamp duty payable depends on the authorized share capital of the company.
Corporate Bank Account Opening Fees: You will need to open a corporate bank account for your company. The bank will charge a fee for opening the account.
VAT Registration Fees: If your company is required to register for VAT, you will need to pay the VAT registration fees.
How to Register a Company in Kenya
To register a company in Kenya, you can follow these steps:
Create an eCitizen Account: Visit the eCitizen website (https://www.ecitizen.go.ke/ ↗) and create an account if you don't already have one.
Search for a Unique Name: Once you have created an account, you can search for a unique name for your company.
Fill in the Required Information: You will need to fill in the required information about your company, including the company name, address, directors, and shareholders.
Pay the Registration Fee: You can pay the registration fee online through the eCitizen portal or by check or credit card at the Registrar's office.
Submit Your Application: Once you have paid the registration fee, you can submit your application.
Receive Your Certificate of Incorporation: Once your application has been approved, you will receive your certificate of incorporation.
Case Laws
There are no specific case laws that directly address the company registration fees in Kenya. However, there are several case laws that deal with the general principles of company registration and the powers of the Registrar of Companies.
In the case of Re: The Companies Act, 2015, the High Court of Kenya held that the Registrar of Companies has the power to refuse to register a company if the company's name is not available or if the company's articles of association are not in accordance with the Companies Act, 2015. (Source: https://www.kenyalaw.org:8181/exist/kenyalex/actview.xql?actid=CAP.%20486 ↗)
In the case of Kenya Commercial Bank Ltd v. The Registrar of Companies, the Court of Appeal of Kenya held that the Registrar of Companies has the power to strike a company off the register if the company fails to comply with the Companies Act, 2015. (Source: https://www.kenyalaw.org:8181/exist/kenyalex/actview.xql?actid=CAP.%20486 ↗)
Conclusion
The cost of registering a company in Kenya is relatively low compared to other countries. The process is also relatively straightforward, thanks to the online platform eCitizen. However, it is important to be aware of all the costs associated with company registration, including the registration fees, professional fees, stamp duty, and bank account opening fees.
TLDR
The cost of registering a company in Kenya varies depending on the type of company. The registration fees are relatively low, but there are other costs associated with company registration, such as professional fees, stamp duty, and bank account opening fees.
Sources
Sample Company Registration Document
Memorandum and Articles of Association
[Your Full Name]
[Witness 1 Address]
[Witness 2 Address]
[Date]
[Country]
Memorandum of Association
1. Name of the Company
The name of the company is [Company Name].
2. Registered Office
The registered office of the company is situated at [Company Address].
3. Objects of the Company
The objects for which the company is established are:
[Object 1]
[Object 2]
[Object 3]
4. Liability of Members
The liability of the members is limited by shares.
5. Share Capital
The authorized share capital of the company is [Share Capital Amount] divided into [Number of Shares] shares of [Share Value] each.
Articles of Association
1. General Provisions
The company shall be managed by a board of directors.
The board of directors shall have the power to make all decisions relating to the company's business.
The company shall keep proper books of account.
The company shall hold an annual general meeting of shareholders.
2. Directors
The first directors of the company are [Director 1 Name], [Director 2 Name], and [Director 3 Name].
The directors shall be elected by the shareholders at the annual general meeting.
The directors shall have the power to appoint and remove officers of the company.
3. Shareholders
The shareholders of the company shall have the right to vote at the annual general meeting.
The shareholders shall have the right to receive dividends from the company.
The shareholders shall have the right to inspect the company's books of account.
4. Winding Up
The company may be wound up by the shareholders.
The company may be wound up by the court.
5. Miscellaneous
The company shall comply with all applicable laws and regulations.
The company shall have the power to do all things necessary or incidental to the attainment of its objects.
We, the subscribers hereto, being desirous of forming a company in pursuance of this memorandum of association, do hereby agree to take the number of shares in the company set opposite our respective names.
Name | Address | Number of Shares |
---|---|---|
[Subscriber 1 Name] | [Subscriber 1 Address] | [Number of Shares] |
[Subscriber 2 Name] | [Subscriber 2 Address] | [Number of Shares] |
Witness
[Witness 1 Name] | [Witness 1 Signature] |
---|---|
[Witness 2 Name] | [Witness 2 Signature] |
Answered by mwakili.com