Change of business name in Kenya might seem complicated yet it isn’t. Upgrading your business entity to a limited company has more advantages such as:
1. It becomes an entity of it’s own rights.
2. Easier to secure loans and investments.
3. Have tax advantages.
4. It minimizes personal liability.
5. It acquires professional status.
Perhaps you are wondering how to upgrade business name to limited. It is very simple and I’ll show you the legal steps to carry out which will help you know how to convert a business name to a limited company on eCitizen.
Let us get started on how to change a business name to a limited company in Kenya:
Step 1: Apply for Cessation of Business name to convert.
Step 2: Attach a copy of your current business name registration.
Step 3: File form BN6 to deregister your business.
Step 4: Registrar issues a certificate of cessation of business to convert after application.
Step 5: Proceed to register your business as a limited company.
All the best in changing your business into a limited company.
Requirements To Change Company Name
You may also be interested in knowing the requirements for change of company name. These include:
1.Proposed company names.
2.Type of the company and its nature.
3.Legal details of the proprietors such as ID numbers, KRA certificates.
4.Physical address of the business.
5.Postal address of the company.
These requirements are always necessary as they help in the registration process.
Cost To Register Business Name
Are you curious to know how much does it cost to register a business name in Kenya? Cost of registering a business name in Kenya is approximately Ksh.1,000 in a day.
In conclusion, changing a business name to a limited company is very simple and it has more advantages.Besides,it also shows that your business has also had a progressive growth.